Minnesota Public Utilities Commission considers Minnesota Power, Xcel Energy rate increase requests
After Minnesota Power and Xcel Energy filed for an electric rate and gas rate increase, respectively, in November, last week the Minnesota Public Utilities Commission (PUC) locked in interim rates for both as it began a review of the requests.
For now, the interim rates were set at an 8.6 percent, $63.8 million increase for Minnesota Power customers and an 8.5 percent, $51.2 million increase for Xcel Gas. They will take hold on Jan. 1, 2024 and run until final rates are decided. At that time, if the final rates are lower than the interim, customers will receive refunds.
“It is important that we hear from the public during these rate cases,” PUC Chair Katie Sieben said. “Input into the record is vital as it helps us understand how utility proposals impact Minnesotans.”
The delay in starting the review was due to investigations by the Department of Commerce, Attorney General and other interested parties questioning whether the rate filings were reasonable. Until those investigations conclude, only interim rates can be levied.
All told, the rate case review and investigation process is expected to take between 12 to 15 months. At that time, the Commission will make its final decisions.
