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Xcel asking for Minnesota rate hike

MINNEAPOLIS, Minn. (KFGO AM) -- Xcel Energy is asking the Minnesota Public Utilities Commission to approve an electric rate increase.

A typical residential bill would go up $4-per-month beginning in January, followed by a $6-a-month increase in 2015.

Vice President Laura McCarten says Xcel needs the increase to invest in carbon-free energy sources such as nuclear and wind, and for investments in the power grid and other power plants.