Xcel costs exceed nationwide moderate as fee building up looms

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MINNEAPOLIS – A new analysis from state regulators shows that Xcel Energy’s industrial electricity exceed the national average as the company looks to increase rates further.

The Minneapolis Star Tribune reports that the analysis found residential are around the national average but industrial customers are paying about 20% more.

State regulators want electricity rates for Minnesotans, including industrial customers, to ring in at least 5% below the national average. The analysis comes as the utility is seeking regulators’ permission to increase residential rates by 17.5% and industrial rates by 14%.

The utility’s spokesperson says customers’ bills are low relative to national averages, reflecting Minnesotans’ efforts to conserve energy.

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