Top watchdogs pushing back on Xcel rate increase approved by PUC

Top consumer watchdogs are joining together to try and save energy customers tens of millions of dollars each year. 

The pressure is being put on the Public Utilities Commission (PUC) following its recent approval of Xcel Energy rate increases. It specifically centers on the hike in the company’s return on equity (ROE). 

In a letter from the Department of Commerce, the state agency is standing behind Minnesota Attorney General Keith Ellison and the Citizen Utility Board’s (CUB) petition for the PUC to reconsider the ROE rate increase it landed on after a lengthy rate case. 

Writing to the PUC, “The Commission increased Xcel’s authorized return from 9.25% to 9.6%. This 35 basis point increase will increase rates by tens of millions of dollars every year.”

And that the ROE was, “not just one of the largest financial increases in this case, it was one of the mos...