Xcel Energy's subsidiary, Northern States Power Company (NSP-Minnesota), filed an Electric Customer Rate Stability Plan with the Minnesota Public Utilities Commission (MPUC) on October 9, 2026. The plan serves as an alternative to a traditional rate case filing and proposes to freeze customer base electric rates for two years.
Key Details
- Proposed Terms: The plan includes a customer base rate freeze for calendar years 2027 and 2028.
- Financial Offset: To offset revenue requirements from capital improvements, the plan would accelerate the recognition of federal Investment Tax Credits from five battery storage projects over the two-year period.
- Regulatory Timeline: NSP-Minnesota has requested a decision from the MPUC by January 2027. If the plan is not approved, the company expects to file a standard electric rate case in early 2027.