Xcel Energy wants to hike Minnesota rates by 21%

Xcel Energy Inc. is asking Minnesota regulators for a 21.4% rate hike over the next three years, a move that will generate an additional $677.4 million for the Minneapolis-based utility.

Residential rates would rise by slightly less, but the Star Tribune reports the average residential customers could still see 19% increase in bills (about $15 to $21 per month, cumulatively) by 2024.

An official for Xcel (NYSE: XEL) said the increase was needed to invest in infrastructure.

Rate increase requests…


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