Xcel Energy plans January rate hikeby Stephanie Hemphill, Minnesota Public Radio
ST. PAUL, Minn. — Xcel Energy customers will pay more on their electric bill starting in January as part of an interim rate increase pending a final decision next fall.
The average customer will pay about $8 more per month until the Public Utilities Commission decides in September on a final rate. A typical small business will pay about $11 more per month.
Xcel said it needs the money to extend the lives of its two nuclear power plants and upgrade and operate the grid. The company also plans to invest in its other power plants.
An administrative law judge will conduct hearings in early spring; the public can weigh in on the future proposed increases then.
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