While the economy, inflation and employee pay stays stagnant, another utility wants more, more more;
Xcel Energy is asking for a 9.3 percent hike in electric rates for its 84,000 customers in Sioux Falls and surrounding areas of southeast South Dakota.
The company said Thursday that the increase would add about $7 to the monthly bill of a typical residential customer and raise $14.6 million in revenue.
Xcel said the money is needed to improve infrastructure, comply with new regulatory requirements, and respond to changes in the economy.
The request for a rate increase will be decided by the South Dakota Public Utilities Commission.
Respond to changes in the economy? If so, shouldn’t you be reducing rates instead of raising them?