Xcel Energy admits wind and solar are causing electricity prices to soar

For years, wind and solar lobbyists told us these electricity generators would lower energy costs for Minnesota families, but now utility companies are finally admitting the opposite is true.

This is likely no surprise to our readers, but it is probably a shock to the readers at the Star Tribune, who have been fed a steady diet of misinformation on the true costs of wind and solar for over a decade. Luckily, a recent piece at the Strib has begun the process of setting the record straight on how wind and solar drive up electricity prices.

The article states:

While energy commodities, including gasoline, were down year-over-year, energy services — electricity and natural gas — were higher.

Xcel Energy, Minnesota’s largest electric utility, said the average residential customer’s electric bill rose from about $1,226 a year in 2022 to about $1,271 in 2023, and the company expects bills to average about $1,289 annually in 2024.

Spokesman Theo Keith said “substantial and sustained investments” to add renewable energy and strengthen grid reliability amid a shift toward carbon-free power have largely driven the increases. The company is fighting state regulators’ decision to limit a Xcel-requested increase in rates.

Xcel Energy’s rising electricity prices are a disturbing continuation of an ongoing trend. As Mitch and I wrote in October of 2023, rising prices have caused Xcel Energy’s residential electricity prices to far exceed those of other utilities in the state.

Unfortunately, electricity will only continue to get more expensive for families and businesses due to Minnesota’s recently passed 100 percent carbon-free electricity by 2040 mandate passed by liberal lawmakers during the last legislative session.

American Experiment’s research concluded complying with these onerous mandates would cost Minnesota $318 billion through 2050 an necessitate the construction of thousands of megawatts of wind turbines and solar panels.

These “investments” will result in higher energy prices for all Minnesotans, harming those who can least afford it the most.