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

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percent temporary rate hike for smalkl businesses and homes to cover higher energyt pricesthis summer. The power utility’s so-calledr “electric commodity adjustment” is intended to cover an expected $54.8 million in higher fuel and purchased-energy prices for the third quarterof 2009. Xcel said that a typicapl small-business customer using 1,025 kilowatt-hours a monthy would see current bills increaseby $7.48 a month, to A typical residential customer using 625 kilowatt-hours a montuh would see a $4.56 increase, to $63.05. If approved by the , the rate hike woulfd take effect July 1 and continue forthred months.
Under utility rules, Xcel passews along energy cost increases or decreases to customera ona dollar-for-dollar basis through the quarterly electric commoditgy adjustments. The new request is separate froma $112.q2 million Xcel electric-rate hike alreadu approved by the PUC that also takews effect July 1. That rate increase is to help the Minneapolis-basesd utility (NYSE: XEL) recoup some $1.7 billion it’s spending on generation, transmissiom and distribution upgradesfor Colorado.