Xcel gas rate increase in Minnesota to be lower than expected

MINNEAPOLIS – (KFGO Learfield) – Minnesota Xcel Energy customers could see smaller natural gas rate hikes, and possibly a refund, under a proposed settlement in the utility’s latest rate case. Xcel had originally requested an 8.2% increase, but the agreement would cut that nearly in half to 4.1% for residential customers.

Consumers have already been paying a temporary 6.8% increase since January, meaning customers could be refunded the difference, plus interest, if the settlement is approved.

The Minnesota Public Utilities Commission is expected to make a final decision this fall. Xcel serves more than 430,000 natural gas customers statewide.