Xcel Energy has reached a potential settlement with the North Dakota Public Service Commission over an electric rate increase.
Xcel vice-president Allan Krug said the utility worked with Commission staff and the intervener in the case, Walmart. Krug said it’s about half of what the utility asked for, which was a 19 percent increase.
The increase would affect the connection fee, as well as the kilowatt hour charge.
"It will result in about an 11 percent increase overall," said Xcel Vice President Allan Krug. "If you look over a four-year period, that's probably around 2.5 to 3 percent per year, since or last case."
The settlement will also include a refund, because the interim rates that were granted are higher than the settlement rate.
"There will be a compliance filing, where we'll outline a bill credit foo our customers," Krug said.
The PSC did not take immediate action on the settlement agreement. It plans to do so later this month.
