He, like many other Xcel Energy customers, is feeling frustrated at the price of their electricity bill. Last year, Xcel Energy proposed a rate increase of $353 million, or 9.6%, for 2025 and an additional $137.5 million, or 3.6%, for 2026. According to Xcel, over 2025 and 2026, the average increase for residential customers will be about $5.59 a month. PUC states that based on initial estimates, Xcel’s final rates will be lower than rates customers had been paying in the interim, meaning customers may receive a refund, but that could take months to calculate. In a statement, Xcel Energy told 5 EYEWITNESS NEWS the new rates are significantly offset by federal tax credits and lower fuel costs.