Xcel Energy requests Minn. electric rate increaseMINNEAPOLIS (AP) — Xcel Energy wants to increase its electric rates in Minnesota over the next two years.
MINNEAPOLIS (AP) — Xcel Energy wants to increase its electric rates in Minnesota over the next two years.
Northern States Power Co.-Minnesota, an Xcel company, asked the state Public Utilities Commission on Wednesday to approve a base electric rate increase for 2011 and 2012.
NSP-Minnesota President and CEO Judy Poferl (POH'-fur-uhl) says the company needs the increase, in part, for infrastructure improvements.
The company is asking for an increase of about $150 million or 5.6 percent in base electric rates in 2011, with an additional $48 million or 1.8 percent in 2012.
As part of its filing, Xcel wants to implement interim rates effective Jan. 2, 2011.
The Minneapolis-based utility has about 1.2 million electric customers in Minnesota.