(KNSI) – Xcel Energy has filed a request with the Minnesota Public Utilities Commission for significant electric rate increases that would be backdated to January 1st, 2025 and impact customers statewide.
The utility is seeking approval for a 9.6% rate increase this year, totaling approximately $353.3 million. An additional 3.6% increase worth $137.5 million is being requested for 2026. If approved, the combined increases would add an average of $13.79 per month to typical residential electric bills.
The MPUC has the authority to approve, deny, or modify Xcel’s rate request, including the possibility of approving different increases for various customer classes. A final decision on the rate case is expected in the third quarter of 2026.
During the review period, Xcel will implement interim rates. If the final approved rates are lower than these temporary rates, customers will receive refunds with interest. However, if final rates exceed interim rates, customers will not be charged the difference.
Administrative Law Judge Joseph C. Meyer will oversee nine public hearings to gather customer feedback on the rate request. Seven in-person hearings and two virtual sessions are scheduled to allow Xcel Energy customers and other interested parties to comment on service quality, rate levels, and related matters.
In central Minnesota, the public hearing is scheduled for Tuesday, September 16, 2025, at 11:30 a.m. at the St. Cloud Public Library.
For information on the proposal, click here.
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