Xcel Energy Increases Minnesota Electricity Rates by 9% in January 2013
Maple Grove, MN (January 14, 2013) — Supermarket operators in Minnesota will have even more incentive to improve their energy efficiency after January 2013, when utility Xcel Energy increases its rates for retail electricity by an average of about 9%.
Xcel Energy has also requested rate increases of similar size in five other states, including New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
The Minnesota rate increase is an interim measure, pending a regulatory ruling on Xcel’s request for a permanent rate increase later in 2013.
“A typical grocery store of 50,000 square feet spends about $225,000 a year on electricity,” says Abtar Singh, chief executive officer of Singh360, a facility-management consulting firm that helps supermarket chains and other retailers improve energy efficiency. “The 9% rate increase will add about $20,000 of expense per store per year,