On Thursday, the Public Utilities Commission agreed to a deal on a multiyear rate hike proposed by Minnesota’s largest utility, which provides power to more than 3.3 million homes across the state.
The agreement allows rate hike for homeowners and renters of 10.6 percent and cover 2016 through 2019. Customers have already been paying half of that since they were allowed to raise electricity 5.5 percent last year.
The rate will increase 2.7 percent this year charging the average customer about $30 a year. No increase next year before wrapping up in 2019 with a increase of 1.9 percent which will cost you about another $12.
There ya have it, in a nutshell.