Xcel Energy files 2016 rate increase request

MADISON, Wis. (AP) - Xcel Energy (NYSE: XEL) has asked Wisconsin regulators for permission to raise electric and natural gas rates next year.

The utility filed an application Friday with the Public Service Commission seeking to raise electric rates by $27.4 million. According to the utility, that would translate to about $4.73 more per month for a typical residential customer.

The application also seeks to raise natural gas rates by $5.9 million, which would mean about $3.02 more per month for a typical residential natural gas rates.

The utility says it needs the money to construction additional wind generation, rebuild power lines and upgrade generation facilities.

The PSC is expected to hold hearings on the application this fall.

Xcel serves about 260,000 electric and natural gas customers in Wisconsin.

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