Xcel Energy settles Minnesota gas rate case for $38M, 39% below original request

Filed May 11, 2026 · Period ending May 8, 2026 · ~1 min read

Key Changes

• high

  NSP-Minnesota settled its Minnesota natural gas rate case for a $38 million annual revenue increase, significantly below the $62 million (8.2%) originally requested in October 2025. Settlement represents approximately 61% of the requested amount.

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• high

  Approved interim rates of $51 million (effective January 1, 2026) exceed the $38 million settlement amount, likely requiring customer refunds or rate adjustments once the final order is issued in November 2026.

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• medium

  Settlement includes weighted average cost of capital of 7.21%, up modestly from previously authorized 7.16%. Settlement is non-unanimous, meaning not all parties agreed to terms.

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