(SOUTH DAKOTA SEARCHLIGHT) – A panel of South Dakota regulators approved an electric rate increase Friday for Xcel Energy customers and allowed eight entities to intervene in a pending Black Hills Energy rate case.
Xcel initially sought an increase last June that would have raised the average bill for its residential customers by 19%, equating to about $21 per month. That would have raised $43.6 million in additional annual revenue. The company has about 107,000 customers in South Dakota, mostly in the Sioux Falls area.
The Public Utilities Commission approved a settlement that will increase the average residential customer’s monthly bill by 12%, equating to $13.48 per month, resulting in an annual revenue increase of $25.6 million for Xcel…