Xcel Energy seeks a $291 million rate hike

  • Article by: David Shaffer , Star Tribune
  • Updated: November 5, 2013 - 5:44 AM

Increase over two years would cost average customer $10.29 per month.

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dirtydogsNov. 4, 13 2:40 PM

Instead of spending a ton of money on naming rights for sports venues, I wish they would spend that money to figure out how to run the company efficiently to avoid a rate increase. Of course they have a monopoly and are not really incented to do so, but it would be nice.

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commonsens4uNov. 4, 13 2:50 PM

The question that needs to be asked is: Will all MN families receive a 4.5% increase in income in 2014? If the answer is NO, then the answer for this rate increase should be the same.

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orvestaNov. 4, 13 3:14 PM

Five rate increases since 2005 might even make even conservatives conserve.

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gailycNov. 4, 13 3:19 PM

Unfortunately, my salary isn't going up 4.5% this year, nor next year for that matter. The squeeze play is on ~ too bad they are the only game in town.

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moretaxesnowNov. 4, 13 3:19 PM

I figured out a while ago that the energy business is a rigged monopoly. For that reason, I bought stock in a few energy companies, Excel being one of them. They have it made, they can set their own rates which guarantees they are profitable each and every year. I figure the dividend payouts I get from Excel each quarter offsets their price increase they charge me so at least I can break even on the deal.

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bigtmnNov. 4, 13 3:28 PM

How much of the "cost of investments in the utility’s infrastructure" are being paid for by the stockholder's?

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travis2002Nov. 4, 13 3:41 PM

Obamas war on coal and other traditional and cheap energy sources is doing what he said himself, necisssarily increasing energy prices. So far everything conservatives have said and predicted about this guy is coming true. How much longer will liberals defend his failures?

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schlar01Nov. 4, 13 3:44 PM

commonsens4u, I realize that everyone loves to make the comparison of 4.5% of an electric bill to 4.5% of salary but not all numbers are created equally. 4.5% of a $50K salary is far more than 4.5% of your $100 monthly electric bill. You would need less than 1% of your $50K salary to cover a $4.50 monthly increase in your electric bill. I'm sure many of the same people are also happy to waste $4.50 on Starbucks tomorrow, as well. No one wants rate increases but lets not act like these are all the same.

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hgolf12345Nov. 4, 13 4:02 PM

Xcel is the utility provider based in MN, Excel is a Microsoft program. We are in MN (and potentially Minneapolis) were green energy is the dominating discussion when it comes to energy. You have a choice to stop service from Xcel and go with batteries, solar and a generator.

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commonsens4uNov. 4, 13 4:09 PM

schlar01 - You stated the obvious. Clearly I think everyone understands the basic math that goes into 4.5% of your salary versus a 4.5% rate increase for your electric bill. I was more making a comment out of principal. Americans' standard of living is going down because we are constantly bombarded with 10% increase in cost of groceries, 10% tuition increases, 5% utility increases, 10% gas price increases, 7% property tax increases, 10% health insurance premium increase, and on and on. When you add them all together, they outweigh the meager 1-2% average annual raise Americans receive.

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