Minnesotans depend on Xcel Energy to deliver reliable electricity every day, and they value stability and predictability in their energy service. That's why we have proposed a Customer Rate Stability Plan designed to keep our current electric base rates in place for two years while continuing to invest in the energy system that powers our homes, businesses and communities.
On October 9, 2026, Xcel Energy filed a proposal to the Minnesota Public Utilities Commission that would allow the company to avoid filing a new electric rate case until at least November 2028. If approved by the Commission, the proposal would allow Xcel Energy to postpone any base electric rate increases for at least two years.
Find out more about our proposal (PDF)
Read our press release (external link)
Under the proposal, the company will continue to prioritize delivering reliable service and strengthening the energy grid. Our plan positions us to invest nearly $4.5 billion in Minnesota’s electric system over the next two years to address:
The company’s proposal would allow base rates to remain stable through 2028 by accelerating the recognition of federal investment tax credits related to five upcoming battery energy storage projects. We would also continue to implement cost recovery and oversight mechanisms approved in the company’s most recent rate case.
Xcel Energy requested the Commission approve our Customer Rate Stability Plan prior to January 29, 2027.
We are committed to helping customers who may be struggling with their bills. If you’re having trouble keeping up with your bill, we’re here to help (external link). You can also call 1-800-895-4999.
Contact us (external link) and we will work with you to set up a payment plan and connect you with other resources that can help.
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