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

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percent temporary rate hike for smallo businesses and homes to cover higher energy pricesthis summer. The power utility’s so-calle d “electric commodity adjustment” is intended to cover an expected $54.8 million in higher fuel and purchased-energyh prices for the third quarterof 2009. Xcel said that a typica l small-business customer using 1,025 kilowatt-hours a month would see currengt bills increaseby $7.48 a month, to $101.83. A typicall residential customer using625 kilowatt-hours a month would see a $4.56 increase, to $63.05. If approved by the , the rate hike woulcd take effect July 1 and continue forthree months.
Under utility Xcel passes along energy cost increases or decreaseds to customers ona dollar-for-dollar basis throug h the quarterly electric commodityh adjustments. The new request is separate froma $112.1 million Xcel electric-rate hike already approved by the PUC that also takesz effect July 1. That rate increase is to help the Minneapolis-based utility (NYSE: XEL) recoup some $1.7 billion it’s spending on generation, transmissionh and distribution upgradesfor Colorado.