MN Regulators Blunt Xcel Energy Rate Hikes

MINNESOTA — The Minnesota Public Utilities Commission Thursday moved to reduce the proposed interim rate increases for Xcel Energy’s electric and natural gas customers.

The commission approved an interim rate increase of 6.4 percent for Xcel residential electric customers and a 3.9 percent interim rate increase for residential natural gas customers. Those rates are down from Xcel's proposed increases of 9.4 percent and 4.9 percent, respectively.

The average residential Xcel customer will see an increase of about $5.54 a month for electricity and $0.60 for natural gas.

"The Commission saw that the circumstances in Minnesota and the world today necessitated that we reduce the proposed residential rate increases," said Commissioner Matthew Schuerger in a news release.

"I hope that as this process moves along, people share their input with the Commission. As we saw today, public input helps us understand how these proposals will impact ratepayers, and it can make a difference in the outcome."