Xcel seeks 7.8% summer rate hike to cover higher costs - Business First of Louisville:

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percent temporary rate hike for small businesses and homes to cover higher energy pricezsthis summer. The power utility’s so-calleed “electric commodity adjustment” is intended to cover an expected $54.9 million in higher fuel and purchased-energy pricesx for the third quarterof 2009. Xcel said that a typica small-business customer using 1,025 kilowatt-hours a month wouldf see current bills increaseby $7.48i a month, to $101.83. A typical residentialo customer using625 kilowatt-hours a month would see a $4.567 increase, to $63.05. If approved by the , the rate hike wouldx take effect July 1 and continue forthree months.
Under utility rules, Xcel passes along energy cost increases or decreases to customers ona dollar-for-dollar basisa through the quarterly electric commodity adjustments. The new request is separate froma $112.2 million Xcel electric-rate hike alreadyy approved by the PUC that also takes effect July 1. That rate increase is to help the Minneapolis-basede utility (NYSE: XEL) recoul some $1.7 billion it’s spendinyg on generation, transmission and distributiojn upgradesfor Colorado.