Xcel Energy's latest rate increase approved by regulators

Author:
Updated:
Original:

Minnesota's Public Utilities Commission unanimously approved a temporary rate increase for Xcel Energy Thursday.

The Star Tribune reports the 4.6 percent interim hike takes effect next month and is the sixth increase in eight years for Xcel. Thursday's approval means the interim hike will be in place while Xcel's request for a permanent increase winds through a yearlong regulatory process, the Star Tribune says.

The newspaper says lawyers representing the state and Twin Cities suburbs unsuccessfully urged the Commission to reject the increase or scale it back. For a residential customer using the average amount of kilowatt hours, it translates into a $4 monthly increase, bringing the average bill to $84.39.

Xcel Energy recently finished upgrades to it nuclear power plant in Monticello that wound up costing $665 million, which more than doubled its original estimates. The Public Utilities Commission is investigating the cost overruns and Xcel filed documents in October defending its handling of the Monticello project.

This week the Nuclear Regulatory Commission signed off on Xcel's request to boost the energy output at the plant by 12 percent, the St. Cloud Times reported. Xcel says the production increase at Monticello will occur gradually.

Next Up

protest, chauvin, george floyd

Walz: Demobilization of troops, police to happen 'as quickly as possible'

It's unclear just when troops and police will pull out of the Twin Cities.

Screen Shot 2021-04-20 at 5.33.13 PM

'The first step towards justice': AG Ellison calls for change after Chauvin conviction

Ellison's office led the prosecution of the former Minneapolis police officer.

chauvin

Derek Chauvin guilty on all counts in George Floyd's death

Chauvin was charged with second-degree murder, third-degree murder and second-degree manslaughter.

Screen Shot 2021-04-20 at 4.13.07 PM

LIVE UPDATES: Reaction as Derek Chauvin is found guilty on all counts

We bring you the latest reaction after the verdict in the Derek Chauvin trial.

Derek Chauvin

Watch live: Verdict in Derek Chauvin murder trial

The verdict will be announced between 3:30 p.m. and 4 p.m. Tuesday, April 20.

derek chauvin court - closing arguments

Verdict reached in Derek Chauvin murder trial

A verdict will be read Tuesday afternoon.

logan olson gofundme

18-month-old boy who nearly drowned welcomed home with police escort

Logan Olson was found in a retention pond in Stewartville on April 7.

covid, vaccine

Is Minnesota's latest surge plateauing? Expert says 'no idea'

Hospital admissions have leveled off in the past week, though ICU cases have risen.

Related