Xcel Energy reaches deal to lower proposed rate increases, refund customers

Company, Public Utilities Commission reach settlement that freezes base electricity rates through 2025

A leading energy provider in South Dakota won’t be hiking electricity rates as high as it had hoped.

That’s the result of a settlement reached between Xcel Energy and the South Dakota Public Utilities Commission, which Tuesday approved an agreement stipulating a lower rate increase than what the Minneapolis-based utility provider had previously proposed.