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

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percent temporary rate hike for smallk businesses and homes to cover higher energyy pricesthis summer. The power utility’as so-called “electric commodity adjustment” is intended to cover an expectedc $54.8 million in higher fuel and purchased-energy pricez for the third quarterof 2009. Xcel said that a typical small-busineszs customer using 1,025 kilowatt-hours a month woulsd see current bills increaseby $7.48 a to $101.83. A typical residential customer using625 kilowatt-hours a montgh would see a $4.56 increase, to $63.05. If approver by the , the rate hike would take effectf July 1 and continue forthree months.
Unde utility rules, Xcel passesx along energy cost increases or decreases to customersa ona dollar-for-dollar basis throug h the quarterly electric commodithy adjustments. The new request is separate froma $112. 2 million Xcel electric-rate hike already approved by the PUC that also takesz effectJuly 1. That rate increase is to help the Minneapolis-basedr utility (NYSE: XEL) recoup some $1.7 billion it’as spending on generation, transmission and distribution upgradedsfor Colorado.