NSP-Minnesota Seeks 15% Electric Rate Increase in South Dakota for 2026

Reuters
01 Jul
NSP-Minnesota Seeks 15% Electric Rate Increase in South Dakota for 2026

Northern States Power Company, a wholly owned subsidiary of Xcel Energy Inc., has filed a request with the South Dakota Public Utilities Commission for a net annual electric rate increase of $44 million, equivalent to a 15% rise. This request is based on a 2024 historic test year and includes a proposed return on equity of 10.3% and a rate base of approximately $1.2 billion. The requested equity ratio stands at 52.87%. If approved, the new rates are expected to take effect on January 1, 2026, resulting in an average annual residential bill increase of 3% over the decade from 2016 to 2026.

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