Xcel Energy requests electric rate hike of about 20% in Minnesota

MINNEAPOLIS (AP) — Xcel Energy wants to increase its electricity rate by about 20% over the next three years, adding an average $15 to $21 per month cumulatively to residential customers’ bills.

Minneapolis-based Xcel filed its request with the Minnesota Public Utilities Commission, which must approve any increase.

The rate hike would generate about $677 million over the three years with a big portion directed to building out transmission lines to connect to renewable power sources. Xcel has 1.3 million electrical customers.

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