Xcel Energy Seeks 19% Rate Hike, Could Cost NDSU $1M Annually

Northern States Power Company, part of Xcel Energy, is seeking a more than 19% rate increase that would cost North Dakota State University about $1 million more annually. NDSU Facilities Director Brent DeKrey told the Public Service Commission Monday the increase could mean higher tuition, reduced research resources, and additional taxpayer costs. The proposed hike would raise the average residential customer’s bill by $22.34 per month and increase Xcel’s North Dakota annual revenue by $44.6 million dollars, according to Jeff Beach of the North Dakota Monitor, who reported extensively on this subject. The increase is partly driven by Xcel’s transition from coal to renewable energy, retiring its last coal units by 2030. Xcel customers have been paying an interim rate since February. The PSC will hold a formal hearing beginning December 1st. The public can submit comments to ndpsc@nd.gov.