Not sure if you have heard this fun news?
Xcel Energy’s rates would rise 15.2% over three years as the electric utility seeks to raise $466 million to pay for a host of a projects, from improving its power grid to bolstering its nuclear plants and building wind farms.
Minneapolis-based Xcel, Minnesota’s largest electric utility with about 1.3 million customers, on Friday asked utility regulators for a rate hike that would leave residential consumers paying an estimated $110 more per year for electricity by 2020 — a 10.6% increase. The biggest rate impact would come in 2020, the first year of the proposed rate plan.
If Xcel is asking for this in Minnesota, you know damn well they will be knocking at our door next. As you may or may not know, Energy Companies often ask for more then they need from PUC’s so they get what they want. It’s the oldest trick in the book and something that used car salesman do.
I have never understood the ‘math’ of utilities. While their customer base increases, you would think their revenue would to, but for some reason they need these rate increases. In reality, our rates should be going down. Conservation efforts, green energy, etc. would tell us that things should get more affordable. Make no mistake, this is about the bottom line.
hasn’t the water department told us to conserve water, and then said they have to raise rates because people are using less water?
If you think green energy initiatives will lower electric prices, you’re part of the problem. The wind mandates are causing the increase !