Minnesota Regulators Face Calls to Reconsider Xcel Energy Rate Hike Amid Consumer Concerns
State agencies and consumer advocacy groups are urging the Minnesota Public Utilities Commission (PUC) to re-evaluate its decision allowing Xcel Energy to increase electric rates for 2025 and 2026. The PUC's July ruling permits Xcel Energy, the largest utility in the Twin Cities metro and southern Minnesota, to collect an additional $210 million from ratepayers. This translates to an average monthly bill increase of approximately $5.60 for Xcel residential customers. Minnesota Attorney General Keith Ellison and the Citizens Utility Board have specifically challenged the PUC's decision to grant Xcel a higher return on equity for infrastructure investments, arguing that the evidence does not support such an increase. The PUC has until October 19 to decide whether to address these official petitions. The rate case has drawn significant public attention, with over 8,500 comments filed online, predominantly opposing the rate increases and frequently mentioning concerns about the return on equity.
