excel energy

Xcel Energy Offers Plug-In Rates for EVs

Xcel proposes low-cost, off-peak rates for plug-in cars

Star Tribune, January 30, 2015

Plugging in an electric vehicle soon will get significantly cheaper for Minnesota customers of Xcel Energy Inc., the state’s largest power company.

The utility asked state regulators Friday to approve a rate for overnight home charging of electric cars at a 43 percent discount to residential service. The rate, if approved as proposed, likely will roll out in about six months, Xcel said.

“We are trying to provide more options for customers,” Chris Clark, president of Xcel’s Minnesota regional operations, said in an interview Friday. “This is really how we’re seeing the future. We think customers are going to want to tailor their energy services to what their particular uses are.”

Clark said electric vehicle owners would save about $9 per month under the proposed rate of 3.3 cents per kilowatt-hour offered from 9 p.m. to 9 a.m. weekdays and all hours on weekends and on holidays. When standard fuel charges are added, the rate is 6 cents per kwh. A $4.95 monthly basic charge would cover the cost of a separate electric meter.

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