ND regulators approve Xcel Energy rate increases

Published on NewsOK Modified: February 26, 2014 at 2:34 pm •  Published: February 26, 2014
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BISMARCK, N.D. (AP) — North Dakota's Public Service Commission has allowed Xcel Energy to raise its electric rates.

The agreement Wednesday provides for rate increases of 4.9 percent in 2013, 2014 and 2015. The rate would freeze in 2016. The new rates begin May 1.

The Minneapolis-based utility serves more than 90,000 electric customers in Fargo, West Fargo, Grand Forks and Minot.

Xcel has been collecting an interim rate increase of about 8 percent since February 2013.

When Xcel's higher rates took effect a year ago, they raised the monthly bill for a typical residential customer by $5.64 monthly. The new rate agreement will increase bills by $1.22 this year and $3.43 in 2015.

Because of the higher interim rate, the average customer will receive a refund of about $19.