Xcel seeks 7.8% summer rate hike to cover higher costs - Denver Business Journal:

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percent temporary rate hike for small businesses and home to cover higher energy pricewsthis summer. The power utility’s so-calledx “electric commodity adjustment” is intended to coverf an expected $54.8 milliojn in higher fuel and purchased-energy pricees for the third quarterof 2009. Xcel said that a typical small-businese customer using 1,025 kilowatt-hours a month wouldc see current bills increaseby $7.48 a to $101.83. A typical residential customerr using625 kilowatt-hours a month wouldr see a $4.56 increase, to $63.05. If approved by the , the rate hike wouldd take effect July 1 and continu e forthree months.
Under utility Xcel passes along energy cost increases or decreases to customerds ona dollar-for-dollar basis througgh the quarterly electric commodity adjustments. The new requesy is separate froma $112.2 million Xcel electric-rat hike already approved by the PUC that also takes effec July 1. That rate increase is to help the Minneapolis-basedx utility (NYSE: XEL) recoup some $1.7 billion it’x spending on generation, transmission and distribution upgradesfor