Minnesota Regulators OK Rate Hikes for Xcel Energy Customers

ST. PAUL, Minn. (AP) — Minnesota regulators have signed off on higher electric and natural gas prices for Xcel Energy residential customers.

The state Public Service Commission issued a news release Thursday saying the utility had asked to increase electric rates by 9.4% and natural gas rates by 4.9%.

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The commission said it has approved an interim electric rate increase of 6.4% and an interim natural gas rate increase of 3.9% and has started reviewing whether to raise the rates further.

Final decisions are expected in 2023 and public comment will be welcome. All told, the interim increases will translate to $5.54 more a month for average electric customers and 60 cents more a month for average gas customers.