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Rates rising for Xcel's electric customers in ND

2009-01-04 23:55:00
Author: BizWire

Xcel Energy Inc.'s North Dakota electric customers will see a 7.4 percent rate increase in March. Regulators say it is less than what customers already are paying.

North Dakota's Public Service Commission approved a settlement of Xcel's electric rate increase request. It will bring the utility almost $11 million in added revenue each year.

Xcel asked for a 14 percent rate increase a year ago. Last February, it raised rates by 11.5 percent while it awaited the commission's ruling.

The 7.4 percent increase included in the settlement means Xcel customers will get refunds of the extra money they've been paying since February.

Xcel executive Mark Nisbet says the credit may start showing up on bills in May. It could be more than $35 for a typical residential customer.

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