Xcel Energy has filed an electric rate increase with the North Dakota Public Service Commission.
Xcel is asking for a 9.25 percent increase in overall rates, or $16.9 million. The utility says
it needs the money because of equipment and service upgrades – including plans to extend the lives of its two Minnesota nuclear plants.
Under North Dakota law, Xcel can receive interim rates. It's asking for an 8.6 percent increase as part of its interim package, or $14.7 million.
"That would be about $7 for a typical residential customer, and approximately $9 for a typical small business customer's monthly bill," said Commissioner Bonny Fetch.
Commissioner Kevin Cramer said it is hard for the PSC to deny interim rates.
"However, the back-stop to that is, should the final conclusion be that the interim rates are too high, then they (Xcel) would have to refund what they have over-collected, with interest," said Cramer.
Under a company timeline, the interim rates would take effect in February.
