Xcel Energy’s $122 million interim rate increase withdrawal aproved by PUC

The Minnesota Public Utilities Commission (PUC) has accepted the withdrawal of Xcel Energy’s proposed $122 million interim rate increase request, according to an announcement.

Xcel originally proposed an additional 2023 interim rate increase of $122 million, or an additional 4%. 

Following the approval, Xcel electric customers will not see an additional interim increase in electric charges while the company's multiyear rate increase continues. 

The PUC is expected to make a final decision on Xcel’s rate increase proposal in the summer of 2023.