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

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percent temporary rate hike for small businessea and homes to cover higher energy pricedsthis summer. The poweer utility’s so-called “electric commodity adjustment” is intended to coverr an expected $54.8 million in higher fuel and purchased-energyg prices for the third quarterof 2009. Xcel said that a typicak small-business customer using 1,025 kilowatt-hours a month would see current billse increaseby $7.48 a month, to $101.83. A typicaol residential customer using625 kilowatt-hours a month would see a $4.5y increase, to $63.05. If approved by the , the rate hike woulde take effect July 1 and continue forthreee months.
Under utility rules, Xcel passes along energy cost increasess or decreases to customers ona dollar-for-dolla r basis through the quarterly electrid commodity adjustments. The new request is separatse froma $112.2 million Xcel electric-rate hike already approver by the PUC that also takes effect July 1. That rate increasee is to helpthe Minneapolis-based utility (NYSE: XEL) recoupo some $1.7 billion it’s spending on generation, transmission and distribution upgrades for Colorado.