Xcel cuts its electricity rate hike request for Minnesota

  • Article by: David Shaffer , Star Tribune
  • Updated: March 25, 2013 - 9:17 PM

Utility backed off call for 10.7 percent increase after criticism from customers and state agency.

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babu237Mar. 25, 13 3:32 PM

Of COURSE the general public must suffer a rate hike. Xcel's CEO only received almost $6,000,000.00 in compensation last year.. Poor guy.. We're bleeding him dry! http://www.startribune.com/business/142988075.html?refer=y

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fatredneckMar. 25, 13 4:34 PM

babu...so what's that make out to?? 10 dollars a year per customer?...yeah the CEO is the reason for the rate hike

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lou0047Mar. 25, 13 4:36 PM

Lets see, the 2012 annual rate of inflation was 1.7% and these guys need 8.2%. Yeah right.

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suzukisvMar. 25, 13 4:40 PM

How about the PUC do something really bold? How about they turn this increase into a credit where xcel owes us money? Clearly, it's all just made up anyhow (as they instantly lower their request at the slightest resistance.) So, let's just do the same thing; make up a number and tell them they owe us. Public utilities (things you have no choice in using) should not be in private hands anyhow.

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weteringMar. 25, 13 4:46 PM

Please report the per kwh rates for each type of user and how those rates compare to other communities. Thank you.

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antagonistMar. 25, 13 4:57 PM

Remember when environmentalists went to court against the EPA because of a "haze" over the boundary waters. Feb. 1st Star Tribune: "Xcel, the Minneapolis-based power company that serves 1.2 million electric customers in the state, is adding pollution controls to Sherco at a cost of $50 million. Environmental groups contend the law requires more advanced technology, called Selective Catalytic Reduction, that would cost an estimated $340 million." Who do you think is going to pay for all these upgrades? The employees? Management? No, you are.

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erikj3Mar. 25, 13 4:58 PM

Wow, a whole 2.5% how generous. How much did Xcel's CEO make last year? $6 million (a relative pittance compared to other CEOs, but still many times what the average American will make in their whole working lives).

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formergopMar. 25, 13 5:14 PM

AAhhhh, aren't they nice. What a crock!

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rusty0101Mar. 25, 13 5:38 PM

I would think that any agreement for increases should be tied to improvement of relationships with small providers. That may not be a straight pass-through to providers, but very much should include improvements to infrastructure in support of independent and residential electric farmers, assistance at zoning commission boards for city residents looking to reduce their monthly bills by making capital investments to their property, etc. If they don't want to work on that, then I think they can pick up any cost increases out of their profit margins.

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movebak2mplsMar. 25, 13 5:52 PM

First rule of negotiating a new contract: Never start where you want to end up - start much, much higher! And then, when you come down from your initial offer (no matter how ridiculously high), it looks like a concession. The opposing side feels like they won, and you got the number you really wanted in the first place.

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