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Xcel Energy seeks a $491M rate hike over two years for reliability, clean energy, and nuclear projects, raising average bills by $13.31 monthly.
Xcel Energy, Minnesota’s largest electric utility, is seeking a 9.6% rate increase in 2025 and a 3.6% rise in 2026, totaling about $491 million, to improve system reliability, fund clean energy and nuclear projects, and prepare for growing electricity demand.
Public hearings are scheduled across the state in September, allowing residents to voice concerns.
The company estimates the average residential customer would pay about $13.31 more per month if approved.
Consumer advocates warn the increase could strain households already facing high costs for essentials.
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Xcel Energy busca un aumento de tasas de $491 millones en dos años para fiabilidad, energía limpia y proyectos nucleares, aumentando las facturas promedio en $13.31 mensuales.