(KNSI) — The state’s largest electricity provider Monday proposed a rate hike of more than 20% starting next year.
Xcel Energy filed for the 21.2% electricity rate increase with the Minnesota Public Utilities Commission, which must approve the measure in order for it to take effect. The increase would be put in place over three years, with the first 12.2% increase to be collected starting January 1, 2022. The next increases of 4.8% and 4.2% would take effect January 1, 2023, and January 1, 2024.
The increase would cost customers between $15 and $21 more on average.
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