Xcel Rate Hike Halved 30 Mar 12

Minnesota regulators have approved an electric rate increase that’s less than half of what Xcel Energy had originally sought. On a 4-0 vote, the state Utilities Commission on Thursday approved a 2.7% rate increase for Xcel Energy’s electricity customers in Minnesota. That means that residential Xcel customers will get a refund because they had been paying higher interim rates. The average refund amounts to about $30, and Xcel customers should start seeing a $2 per-month decrease beginning in May.