2025-2026 multi-year electric rate case (Minnesota)
Multi-year rate plan · Electric
Typical residential bill
Not stated for a specific usage level. Any figures the sources give are in the summary below.
- Filed
- November 1, 2024
- Decided
- July 31, 2026
- Effective
- January 1, 2025
- Requested increase
- $491 million
- Approved increase
- $211 million
- Docket
- Not disclosed
Xcel asked the Minnesota PUC for $491 million (13.2%) over 2025-2026, later cutting the request to $365 million. Interim rates of $192 million began Jan. 1, 2025. The PUC's June 2026 decision (final approval July 31) allows about $211 million over two years at a 9.60% ROE. Xcel says average residential bills rise 2.85% ($2.78/month), and excess interim charges will be refunded.
Utility's stated reasons
- grid reliability and resiliency
- clean energy projects and nuclear plants
- preparing for electricity demand growth
- customer experience improvements
Sources (4) · Verified against regulator or utility filings
- 2025 Electric Rate Case: New Minnesota Electric RatesXcel Energy · Utility website · accessed Sep 29, 2026
- Xcel Energy second quarter 2026 earnings releaseXcel Energy Inc. (SEC Form 8-K exhibit) · Utility filing · Jul 30, 2026 · accessed Sep 29, 2026
- Xcel Energy fourth quarter 2025 earnings releaseXcel Energy Inc. (SEC Form 8-K exhibit) · Utility filing · Feb 5, 2026 · accessed Sep 29, 2026
- Xcel Energy fourth quarter 2024 earnings releaseXcel Energy Inc. (SEC Form 8-K exhibit) · Utility filing · Feb 6, 2025 · accessed Sep 29, 2026
Last verified Sep 29, 2026