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For Immediate Release:
February 13, 2025
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Minnesota Public Utilities Commission
Contact: Charley Bruce, 651-201-2251
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PUC approves Xcel Energy’s natural gas rate case settlement
St. Paul, Minn. — On Thursday, the Minnesota Public Utilities Commission (PUC) approved a settlement in Xcel Energy’s natural gas rate case. Under the agreement, Xcel Energy will receive an annual rate increase of $46.31 million, or 7.5%, a reduction from its initial request of $59.03 million, or 9.6%.
State law allows utilities to implement temporary rate increases while a rate case is under review. As a result, an 8.5% interim rate increase took effect in January 2024. Since the approved settlement results in a lower increase than the interim rate, customers will receive a refund. The total refund for all Xcel gas customers is estimated to be between $1.0 million and $1.5 million.
The settlement was reached with the participation of Xcel Energy, the Minnesota Department of Commerce, the Minnesota Office of the Attorney General, the Citizens Utility Board of Minnesota, LIUNA, Local 49, and the Suburban Rate Authority.
Learn more on rate cases, and the Commission’s role here.
About
The Minnesota Public Utilities Commission regulates three cornerstone service industries in Minnesota's economy: electricity, natural gas and telephone. The Commission’s mission is to create and maintain a regulatory environment that ensures safe, adequate, and efficient utility services at fair, reasonable rates consistent with State telecommunications and energy policies. It does so by providing independent, consistent, professional, and comprehensive oversight and regulation of utility service providers. Learn more at mn.gov/puc.
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