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Xcel Energy seeks rate hike in Minnesota

Power lines
Electrical power lines.
Justin Sullivan/Getty Images

(AP) - Xcel Energy is seeking a rate increase for electricity in Minnesota that if approved would hike the average residential customer's monthly bill by 7.6 percent.

Under the request filed Monday with the state Public Utilities Commission, the average small business customer's bills would increase by 5.2 percent a month.

The company says it's seeking the rate increase because the cost of maintainence is increasing, and it needs the extra money to maintain safe and reliable service.

Xcel Energy serves 1.2 million electricity customers in Minnesota.

As part of the filing, Xcel proposes to implement interim rates effective Jan. 2, 2009, that are expected to increase customers' bills by approximately 6 percent next year.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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