
Xcel Energy electric rate case
Xcel Energy has asked the Minnesota Public Utilities Commission to approve a two-year rate plan to increase rates. For 2025, the company is proposing a $353.3 million increase, or 9.6%. For 2026, they are asking for an additional $137.5 million, or 3.6%. Altogether, the total requested increase over two years is $490.7 million, or 13.2%.
Xcel Energy previously submitted a rate increase request in 2021.
Interim rates
As part of a rate-case review, utilities are entitled under Minnesota law to recover a portion of their proposed costs through interim rates while the PUC conducts a comprehensive evaluation of the full rate request.
The Commission approved a $192 million interim rate, or 5.2%, which is less than the $223.7 million Xcel Energy requested. These interim rates will take effect on January 1, 2025, resulting in adjustments to monthly energy bills for residential and business customers. Importantly, these rates are subject to refund with interest if the final approved rates are lower than the interim levels.
Electric customers pay four types of charges:
-
Monthly service charge
-
Energy charge
-
Fuel Charge
-
Taxes
The reasons identified by the utility for this proposed rate increase include:
-
Modernization of the transmission and distribution system
-
Investments in cleaner electricity generation
-
Lower sales
-
Higher returns for investors
For more detailed information on the rate request, visit Xcel Energy's website.
What to expect at a public meeting
The Commission’s public process gives everyone a chance to review utility plans and provide feedback. This helps make sure decision consider input from citizens, utilities, state agencies, clean energy groups, labor unions, consumer advocates, and others. Public meetings are a great way to learn more, ask questions and make a comment.
-
Presentation – The meeting starts with a short presentation about the plan. Then an administrative law judge will take verbal comments. All comments and names of commenters are part of the public record.
-
How to comment: There will be a sign-up sheet for those who want to speak. Commenters will be called in the order they signed up. It’s best to sign up before the meeting begins. If time allows, the judge may accept additional comments.
-
Translation services: You can comment in Somali, Hmong, Spanish, and other languages with translation services available.
Additional ways to get involved
If you cannot make the meeting, but still want to comment, there are multiple ways to reach the Commission.
-
Email to consumer.puc@state.mn.us.
-
Mail your comments to:
Minnesota Public Utilities Commission,
121 7th Place East, Suite 350,
Saint Paul, MN 55101. -
Online form
When commenting on Xcel Energy Electric's rate case, reference docket numbers 24-320 and 24-321. Visit the comment page on the Commission’s website to learn more.