Xcel prices rise above national average as rate increase slows

MINNEAPOLIS — New analysis from state regulators shows Xcel Energy’s industrial electricity prices are rising above the national average as the company seeks to raise rates further.

The Minneapolis Star Tribune reports that the analysis found that residential prices are around the national average, but industrial customers are paying about 20% more.

State regulators want electricity rates for all Minnesotans, including industrial customers, to be at least 5% lower than the national average. The analysis comes as the utility seeks permission from regulators to increase residential rates by 17.5% and industrial rates by 14%.

The utility spokesperson says customer bills are low compared to national averages, reflecting Minnesotans’ efforts to conserve energy.

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