Northern States Power Co.-Minnesota, an Xcel Energy company, has asked the Minnesota Public Utilities Commission to approve a base electric-rate increase for 2011 and 2012. The company provides electric service to 1.2 million customers in Minnesota.
The company requests an increase of approximately $150 million (5.6%) in base electric rates in 2011, and an additional $48 million (1.8%) in 2012, for a total of $198 million (7.4%), effective Jan. 1, 2012.
The majority of the 2012 increase is necessary for expected costs in the coming year for the previously approved Monticello Nuclear Generating Plant power increase and life-extension projects.
Xcel Energy has also requested to modify customers' bills by moving some costs now being recovered as separate surcharges into base rates. Since those costs are already included on customers' bills, the move will result in no change in overall bills. This includes costs for the Metropolitan Emissions Reduction Program, which included upgrading or repowering three major Twin Cities-area coal plants, as well as construction costs for the Grand Meadow Wind Farm in southeastern Minnesota and the Nobles Wind Farm in southwestern Minnesota.
SOURCE: Xcel Energy