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Xcel Energy Minnesota electric rates

Updated October 7, 2026 · Source: EIA Form 861 (2024), E002/GR-24-320

Investor-owned utility serving 1,230,057 homes in Minnesota.

Your rate

16.98¢per kWh, average residential rate 3% higher than the U.S. average (16.4¢)

$73average monthly bill at the current tariff$874 a year

588kWh used per month, average home

+24%rate change since 2020U.S. average: +28%

Estimate your bill

Electricity you use each month (kWh)

It's on your bill, usually near the top. Starting at 588 kWh, the average for Xcel Energy Minnesota homes.

kWh

$73 a month

$6 fixed charge + 11.4¢ × 588 kWh

This is an estimate. Tariff: $6.00 fixed + 11.4¢/kWh effective January 1, 2025 (source). Residential Service (A01). UNCERTAIN: only Xcel's 2025 rate-case notice was retrieved: customer charge $6.00/mo (proposed $11.00), energy 11.364 c/kWh winter (Oct-May) / 13.069c summer base, with a 7.14% interim rate adjustment on base charges from Jan 1 2025; MPUC later approved an amended increase (+3.4% for 2026) whose final tariff values were not retrieved. Excludes fuel clause (several c/kWh), riders and interim adjustment; a secondary snapshot (Jul 2026) shows ~15.6c all-in. Your bill also includes taxes and fuel adjustments that change month to month.

Rate cases

Docket	Status	Filed	Requested	Approved	Effective
E002/GR-24-320	Approved	November 1, 2024	9.6% ($353M)	5.8%

E002/GR-24-320: Xcel asked for $353 million (9.6%) in 2025 plus $137.5 million (3.6%) in 2026; the PUC on June 18, 2026 (written order July 31, 2026) approved $82.9 million (2.3%) for 2025 and $127.3 million (3.4%) for 2026, about 5.8% total and nearly 60% below the request. Customers paid a 5.2% interim increase since January 2025 and will receive refunds for the difference; residential dollar impact to be confirmed in a compliance filing. Order also cut ROE to 9.6%, lowered late fees and created an arrears management program. Source

Rate history

Xcel Energy Minnesota's average rate is up 24% since 2020, versus +28% for the U.S. average.

Average residential revenue per kWh, EIA-861. Includes delivery and, where the utility sells it, supply.

Rebates for heat pumps, batteries and EV chargers

We haven't found utility-level rebates for Xcel Energy Minnesota yet. Check Minnesota programs or read what's left after the federal credits ended.

About Xcel Energy Minnesota

Legal name: Northern States Power Co - Minnesota (Xcel Energy)
Ownership: Investor Owned
Homes served: 1,230,057 residential customers (2024)
Grid operator: MISO
Retail choice: No — one bundled rate
Data: EIA-861 2024, released October 7, 2026; rate cases checked October 7, 2026

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