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Behind Xcel's rate-hike request

  • November 2, 2012 - 9:03 PM
Xcel cites four reasons for its request to raise Minnesota electric rates by $285 million, or 10.7 percent overall. The biggest reason is its investment in various nuclear power plant upgrades. The effects of slack demand are the second-biggest reason.

Prairie Island and Monticello nuclear plants: $114 million 40% share of increase

Effect of slack demand: $75 million, 26% share of increase

Electricity grid, power plant upgrades: $56 million, 20%

Higher property taxes*: $40 million, 14%

* mostly due to increased investment

Source: Xcel Energy

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