Xcel Energy Set To Hike Electricity Rates

(Minneapolis, MN) -- If you're an Xcel Energy customer, get ready for higher bills over the next four years. The utility is asking state regulators to approve what executives are calling a "significant" boost in rates and spread it out through 2018. Xcel has raised rates every year for three years, but say it's not enough to make up for the billion-dollars annually it puts back into its system. One-point-two Minnesotans get their power from Xcel.