Xcel gas rate deal cuts hike, offers refunds
A settlement in Xcel Energy's Minnesota gas rate case would slash the utility's proposed increase to 4.88% overall and 4.1% for residential customers, cutting the original 8.2% request roughly in half.[1]
The agreement is joined by the Minnesota Department of Commerce, the Citizens Utility Board, the Suburban Rate Authority and labor group LIUNA.[1] It is built around an implied 9.55% return on equity for Xcel.[1] Customers who have been paying a 6.8% interim gas rate since January would receive refunds with interest if regulators approve the deal.[1]
Xcel originally proposed the 8.2% increase, which triggered the regulatory review and the interim 6.8% hike implemented in January.[1] Public comments on the proposed settlement are due by June 12, and the Minnesota Public Utilities Commission is expected to decide on it this fall.[1]
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📌 Key Facts
- Settlement would set Xcel Energy’s Minnesota gas rate increase at 4.88% overall and 4.1% for residential customers, down from an 8.2% original proposal.
- Customers have been paying a 6.8% interim gas rate hike since January and would receive refunds with interest if the deal is approved.
- The settlement, joined by the Department of Commerce, Citizens Utility Board, Suburban Rate Authority and LIUNA, is built around an implied 9.55% return on equity for Xcel.
- Public comments on the proposed settlement are due by June 12, and the Minnesota Public Utilities Commission is expected to decide on it this fall.
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