Overview

• An in-person hearing in Stillwater on Sept. 15 launched a series of public meetings where many speakers opposed the proposal, with additional sessions statewide and written comments accepted through Dec. 30.
• Xcel seeks a 9.6% increase in 2025 ($353.3 million) and 3.6% in 2026 ($137.5 million), totaling about $490.7 million, and estimates a typical residential bill would rise about $13.31 per month if approved.
• The utility says the higher revenue would fund reliability upgrades, clean-energy projects, and investments in carbon-free nuclear plants while preparing for expected growth in electricity use.
• Xcel says new federal tax credits tied to its nuclear generation will lower bills relative to the proposed percentage increases, while consumer advocates warn many households are already struggling with arrears and disconnections.
• Customers are already paying higher interim rates subject to refunds if the final approved rates are lower, with evidentiary hearings set for Dec. 17–19, 2025, and a commission decision due by July 31, 2026.