The SD PUC approved a rate increase for Xcel Energy;
The South Dakota Public Utilities Commission on Tuesday approved a settlement allowing Xcel Energy to increase its overall electric rates by about 5.5 percent for residential and commercial customers in the state.
The settlement would allow Xcel to earn about $8 million a year more from its 81,000 South Dakota customers in 36 communities in the Sioux Falls area. The company said the rates, to take effect Jan. 18, would raise the electric bill of the average South Dakota residential customer by about $5.55 a month, from $65.80 to $71.35, based on winter rates.
That’s right, during the middle of a recession the PUC thought it was a good idea to raise rates on electricity. While people’s wages have remained stagnant (for those of us who have jobs) why would the PUC approve a gigantic rate increase like this? Should they be allowed an increase? Sure. But 5.5%? Once again, even our PUC has proven the SD motto to be true, “Business first, citizens second.”
It also bothers me that a company who gives thousands of dollars a year to community programs (SculptureWalk comes to mind) needs to have rate increases. It seems a little odd that Xcel would ‘need’ this extra revenue since they all kinds of dough to throw at sculptures of turtles reading books. If you need this extra revenue, fine, but spend it on improving service.