Dive Summary:
- Xcel Energy Inc. on Monday reduced its Minnesota rate increase proposal to 8.2%, coming from a request last November of 10.7%, effectively reducing the request from $285 million to $220 million.
- State regulators had criticized the original request, citing concern over potential "rate shock."
- Xcel cited changes in circumstances as motivation for submitting the new proposal.
From the article:
"... Minnesota officials had urged state regulators to slash Xcel Energy's original request, citing "rate shock" among customers. The state Commerce Department recommended a smaller rate hike of about 3 percent to 4 percent. ..."
