17.07¢
per kWh, 2025
[ Xcel Energy Minnesota / MN · 24-320 ]
Xcel Energy Minnesota: 5.7% approved for 1,243,236 Minnesota homes
APPROVED
rate increase approved
18.04¢
per kWh with the increase
1,243,236
residential customers
+24.2%
since 2020
What your bill becomes
Bill today
After the increase
Difference / month · / year
Estimated at Xcel Energy Minnesota's average effective residential rate (17.07¢/kWh, EIA, all charges included). Your tariff, fees and taxes differ.
Rate case 24-320
Approved Docket 24-320 ↗
- Nov 2024Filed with the commission as docket 24-320
- Jun 2026Commission approved 5.7% (asked: 13.2%)
Xcel Energy (Northern States Power-Minnesota) filed on Nov. 1, 2024 for a two-year electric increase of $490.7 million, or 13.2% overall over 2025-2026 ($353.3 million or 9.6% for 2025, plus $137.5 million or 3.6% for 2026), citing transmission and distribution upgrades, cleaner generation, lower sales and a higher return for investors. Interim rates of $192 million (5.2%) have been on bills since Jan. 1, 2025, subject to refund. On June 18, 2026 the Minnesota Public Utilities Commission approved about $82.9 million (2.3%) for 2025 and $127.3 million (3.4%) for 2026, roughly $211 million over two years with a 9.6% return on equity; Xcel puts the average residential impact at about $5.59 a month. Because final rates are below the interim rates, customers are due a one-time refund with interest, and reconsideration petitions from the Attorney General and the Citizens Utility Board were pending in October 2026.
Rate history 2015–2025
| Year | ¢/kWh | Change | Customers |
|---|---|---|---|
| 2015 | 12.60¢ | — | 1,122,172 |
| 2016 | 13.18¢ | +4.6% | 1,131,107 |
| 2017 | 13.79¢ | +4.6% | 1,140,536 |
| 2018 | 14.15¢ | +2.6% | 1,149,958 |
| 2019 | 13.62¢ | −3.8% | 1,159,579 |
| 2020 | 13.74¢ | +0.9% | 1,171,591 |
| 2021 | 13.92¢ | +1.3% | 1,186,195 |
| 2022 | 15.60¢ | +12.1% | 1,199,122 |
| 2023 | 16.31¢ | +4.5% | 1,212,790 |
| 2024 | 16.98¢ | +4.1% | 1,230,057 |
| 2025 | 17.07¢ | +0.5% | 1,243,236 |
How this compares
15.83¢
Minnesota average, 2025
+7.8%
Xcel Energy Minnesota vs MN 2025 average
−0.9%
vs US 2025 average
#7
priciest in MN
Xcel Energy Minnesota files with the EIA as Northern States Power Co - Minnesota (utility ID 13781).
Serves 52 counties in Minnesota: Anoka, Benton, Blue Earth, Brown, Carver, Chippewa, Chisago, Clay, Dakota, Dodge, Douglas, Faribault, Freeborn, Goodhue, Hennepin, Houston, Kandiyohi, Lac Qui Parle, Le Sueur, Lincoln, Lyon, McLeod, Meeker, Mower, Murray, Nicollet, Nobles, Norman, Olmsted, Pine, Pipestone, Polk, Pope, Ramsey, Redwood, Renville, Rice, Rock, Scott, Sherburne, Sibley, Stearns, Steele, Todd, Wabasha, Waseca, Washington, Watonwan, Wilkin, Winona, Wright, Yellow Medicine. 482 ZIP codes.
What the numbers show
Since 2015, Xcel Energy Minnesota's average residential rate has gone from 12.60¢ to 17.07¢ per kWh: +35.5% over 10 years, or about +3.1% a year. It rose in 9 of the 10 years we can compare, and the biggest one-year increase was +12.1% in 2022. The largest drop was −3.8% in 2019.
For a home using 743 kWh a month, the Minnesota average, Xcel Energy Minnesota's 2025 rate works out to about $1,522 a year, $111 more than at Minnesota's average rate of 15.83¢. Of the 46 Minnesota utilities in our data with a 2025 price, it is the 7th most expensive.
Xcel Energy Minnesota served 1,122,172 homes in 2015 and 1,243,236 in 2025 (+10.8%), about 47% of Minnesota's residential electricity customers.
Who sets Xcel Energy Minnesota's rates
Xcel Energy Minnesota is investor-owned, so it can change its base rates only by filing a rate case with the Minnesota Public Utilities Commission. The commission holds hearings and takes public comment before it rules, and it usually approves less than the company asks for. Fuel and other pass-through charges can change between rate cases.
Commission contact: Minnesota Public Utilities Commission. How we calculate every figure on this page: methodology.
Questions
Did Xcel Energy Minnesota get a rate increase?
Yes. The Minnesota Public Utilities Commission approved 5.7% in docket 24-320 in Jun 2026. The company had asked for 13.2%.
What does Xcel Energy Minnesota charge per kWh?
Xcel Energy Minnesota's average effective residential rate was 17.07¢ per kWh in 2025 (EIA-861, revenue divided by sales, all charges included). Minnesota's 2025 average was 15.83¢.
How much have Xcel Energy Minnesota rates gone up in five years?
+24.2% between 2020 and 2025, against +24.1% for Minnesota as a whole over the latest five-year window.
How many customers does Xcel Energy Minnesota have in Minnesota?
1,243,236 residential customers in 2025, across 52 counties including Anoka, Benton, Blue Earth, according to the EIA-861 survey.
Where do these numbers come from?
Rates and customer counts are from the US Energy Information Administration's annual EIA-861 survey; rate-case facts are from the Minnesota Public Utilities Commission docket linked on this page. Nothing here is a utility bill; use it to understand the direction and size of changes.
Sources
Last verified 2026-10-16
- Minnesota Public Utilities Commission: news release on the Xcel electric rate decision (June 24, 2026) checked 2026-10-16
- Minnesota Public Utilities Commission: Xcel Energy electric general rate case page checked 2026-10-16
- Xcel Energy (SEC Form 8-K): 2024 Minnesota electric rate case verbal order checked 2026-10-16
- FOX 9: Xcel Energy proposes nearly 10% increase to 2025 rates checked 2026-10-16
- KAAL: Minnesota PUC approves amended Xcel Energy rate increase (Xcel statement) checked 2026-10-16
- Sahan Journal: reconsideration sought on Xcel electric rate decision checked 2026-10-16
- EIA-861 Sales to Ultimate Customers, 2015–2025 (released 2026-10-07)
- EIA-861M monthly state averages through Jul 2026
- NREL utility-by-ZIP lookup (2024)