Xcel rate decrease will walk historical increases back … a little

It’s not much, but a decrease in rates from Xcel Energy will shave just a little off increases the company has a history of winning the right to charge you.

Xcel says it’s applying in Wisconsin for a .4 percent rate decrease in Wisconsin for next year.

The decrease comes after several years of requests from the company of up to 10 percent for natural gas and 14 percent for electricity.

According to the energy giant, a decrease in the cost of natural gas to produce electricity is the biggest driver of the change. But, investments in renewable energy are also starting to have an impact on energy productions costs, “and that ultimately means cost savings for our customers,” said Karl Hoesly, a regional vice president for Xcel.

Since 2006, Xcel has won approval for 11 electricity rate increases averaging about 3.5 percent, including last year’s increase of a little over 1 percent. Natural gas rates have increased eight times, and went up 8 percent last year, plus an increase in the monthly fixed cost by $3 per month.

Federal tax cuts rebates are expected to start appearing on Xcel customer bills this summer.

Those will be about $23 for residential customers, plus a monthly credit of about $4 per month.