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Xcel Energy reduces request for rate increase in Minnesota

Xcel Energy announced it proposed a reduction to the electricity rate increase request currently under review before the Minnesota Public Utilities Commission, citing changed circumstances since its November 2012 application. The proposals reduce Xcel Energy’s requested rate increase to approximately $220M, down from $285M. The modified request represents an overall rate increase of approximately 8.2%, down from 10.7% originally, the company said.