Minnesota officials urge regulators to slash Xcel's proposed electric rate hike

  • Article by: David Shaffer , Star Tribune
  • Updated: March 1, 2013 - 6:50 AM

Minnesota officials say the proposed 10.7 percent increase is creating “rate shock” and should be scaled back to 3 to 4 percent.

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ShopQcFeb. 28, 13 7:13 PM

I'm no business expert but it seems we play this game with Xcel every year and they always come out on top. They are no fools, they know they won't get 10% but they ask for it and pretend that 4-5% is too little while they laugh their way to the bank and another year of ridiculous profits with their near monopoly.

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mom2fourFeb. 28, 13 7:53 PM

Why do people get upset over a corporate jet when the same people don't even ask the question about the president and first lady jetting all over the place in separate jets, big jets and lots of them.

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fuzz48Feb. 28, 13 7:56 PM

"In its regulatory filing, Xcel disclosed that one of the most painstaking jobs — replacing or “restacking” about 400,000 small metal plates in the generator — had to be almost completely redone. The initial results were outside the margin of error of 1/32nd of an inch." - Could someone please explain how this installation ERROR is somehow the customer's fault? Seems to me that if I make a mistake in my business, I AM THE ONE who takes the fall.

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cosmicwxdudeFeb. 28, 13 7:56 PM

Environmentalist mandates are what is causing a lot of this bs. Elections have consequences!. And one more thing....you have nothing to do with what the weather and climate does....the climate and weather will smash you at will regardless of your bike riding.

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carl12345Feb. 28, 13 8:28 PM

Seniors and the poor keep soaking down these rate hikes, while CEO, etc jet around to places they could drive to. If we just said no, comes from your bottom line, maybe they'd figure it out. I love the advance rate hikes that haven't even passed muster yet. This resource is so important and yet we've done little to oversee its fair distribution.

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tacotonyFeb. 28, 13 9:02 PM

my electric bill is far less than my phone bill and I get so much more value from my electric utility. That being said the PUC could help us all out by raising the amount of electricity that individuals can generate through solar panels. Currently a residential solar system is only allowed to sell back to the utility it's own electrical requirements plus an additional 20%. I've seen rooftop solar systems that could easily be 2x to 3x larger if the PUC would permit it. Since we are being pushed into renewable energy let's be efficient about it. This might cut down dramatically the number and cost of new transmission lines that need to support the old system of generation.

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la55122Feb. 28, 13 9:35 PM

How are our rates compared to Excel's Colorado rates? Why do so many employees have to commute between Denver and Minneapolis? Haven't they heard of teleconferencing? They have no incentive to improve their financial performance as long as they can go for rate increases and see what sticks.

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thedanmanFeb. 28, 13 9:43 PM

If you read between the lines it appears there's some accounting tricks going on. "lower return on equity of 10.24 percent, and an overall rate of return of 7.71 percent. Xcel had asked for a 10.6 percent return on equity and 7.9 percent return overall." Yet the dollar amount is 2/3 less. Probably just means delaying big construction projects or when we have to pay for it. Hey, power's on, I'm content. And fuzz48 mentioned something about customer's fault to pay for a fix. I remember that thing trib had earlier about the generator they're fixing. I found the article and apparently insurance is paying for most of it. "most of the repairs should be covered by insurance." Nice to see stories when insurance pays off - when the check clears that is. Potshot - Let's leave obamacare for a different article.

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thedanmanFeb. 28, 13 9:51 PM

@tacotony. I don't think anyone has much problem paying you for your extra solar energy. But who financially subsidized your solar panels? That's the issue with that debacle in the recent news. Plus, if you're going into the power business for yourself and want to make money off the more than 20% of what you need, are you paying taxes on that income? Don't get me wrong. Solar power is great. Until someone else has to pay for it, save yourself.

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supervon2Feb. 28, 1310:07 PM

I can't wait for more green energy and my bill to go up even further! Oh please more goverment, more taxes, fees and useage increases.

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