Minn. Officials Urge Cut In Xcel Rate Request

Minnesota officials are urging regulators to slash Xcel Energy's proposed rate increase for electric customers in the state.

 

 

 

 

ST. PAUL, Minn. (AP) - Minnesota officials are urging regulators to slash Xcel Energy's proposed rate increase for electric customers in the state.

Officials say Xcel's proposed 10.7 percent increase is creating ``rate shock'' among customers.

Instead, the state Commerce Department is recommending a smaller rate hike of about 3 percent to 4 percent.

The department analyzes utility finances on behalf of ratepayers.

It says Xcel's request for a $285 million rate hike should be reduced by more than $191 million, or two-thirds.

Even with a smaller rate hike, the department says the Minneapolis-based utility will be financially strong enough to offer safe, reliable service.

Xcel officials say they will carefully study the state's objections during the regulatory review now underway.

 

AP

   

© 2012 KFGO-AM  |  1020 S. 25th Street Fargo, ND 58103