Xcel Energy Rescinds Large Rate Increase for North Dakota Customers

BISMARCK, N.D. (AP) — Xcel Energy has proposed a reduced electricity rate increase for its North Dakota customers. The utility company, part of Minnesota-based Xcel Energy, has reached an agreement pending approval from the North Dakota Public Service Commission.

The new rate would increase overall rates by 10.37%, with residential customers facing an increase of 12.92%. This is a significant reduction from the company’s initial request for a 19.34% overall rate hike, with residential rates potentially rising by more than 24%.

The North Dakota Public Service Commission held a hearing to discuss the details of the proposed rate increase and the subsequent compromise between Xcel Energy and the commission. Xcel Energy’s significant prior request sparked concerns among consumers regarding higher costs.

At the hearing, several stakeholders expressed their views about the impact of the rate increase on their financial situations. One local consumer stated, “Any increase in our utility bills affects our household budget. We all need to be more mindful of our spending.”

The Public Service Commission is now tasked with reviewing the agreement before it can take effect. The final decision will determine if the proposed rates will be accepted, modified, or rejected.

Xcel Energy has emphasized its commitment to providing reliable service while managing costs for customers. “We evaluate our rates regularly to ensure we are aligned with the market and operational needs,” an Xcel representative said.

The hearing was a crucial step in the process that will ultimately affect thousands of North Dakota residents. As the commission deliberates, residents can only wait for a conclusion that could impact their electricity expenses for years to come.