Wednesday, June 29, 2011

Xcel seeks 7.8% summer rate hike to cover higher costs - Triangle Business Journal:

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percent temporary rate hike for small businesses and homezs to cover higher energy pricesthis summer. The power utility’as so-called “electric commodity adjustment” is intended to coverd an expected $54.8 million in higher fuel and purchased-energy pricesd for the third quartertof 2009. Xcel said that a typical small-business custome using 1,025 kilowatt-hours a month woul d see current bills increaseby $7.48 a month, to $101.83. A typicakl residential customer using625 kilowatt-hours a month would see a $4.5 increase, to $63.05. If approved by the , the rate hike would take effect July 1 and continue forthrees months.
Under utility rules, Xcel passes along energhy cost increases or decreases to customers ona dollar-for-dollar basizs through the quarterly electric commodity The new request is separate from a $112.2 million Xcel electric-rate hike already approvesd by the PUC that also takes effect July 1. That rate increase is to helpthe Minneapolis-based utilitgy (NYSE: XEL) recoup some $1.7 billion it’s spendiny on generation, transmission and distribution upgrades for

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