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Xcel receives approval of electric rate increase in ND

BISMARCK (KFGO-AM) -- The Public Service Commission has approved a four year electric rate increase plan for Xcel Energy’s North Dakota customers.

Xcel had asked for a 16-point-9 million dollar rate increase at the end of 2012. That’s a 9-point-25 percent rate hike. It was granted an interim 8 percent increase, or 14 point-7 million dollars. But under the settlement reached with the PSC, Xcel will see its rates go up by 4 point 9 percent per year for the next three years, with NO increase in the fourth year.

Commissioner Julie Fedorchak says the settlement  means the rates are locked for four years – and that benefits customers.

           

In addition, Xcel customers will see a one-time 19-dollar credit on their bills. Xcel says that’ll happen within the next 90 days.

 

(North Dakota Public Radio)

 

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