US-based electricity and natural gas company Xcel Energy has submitted a revised request with the Minnesota Public Utilities Commission, proposing a reduction on its increased electricity rates.

The company had earlier filed a request with the commission seeking to increase the electricity rate. It has now proposed a new electricity rate increase plan which is less than the originally proposed plan.

Under the revised proposal, Xcel Energy has requested to increase the electricity to about $220m instead of its earlier increase of $285m.

The modified request will now hike the overall rate by about 8.2%, which is down from originally sought hike of 10.7%.

Xcel Energy Northern States Power Co.-Minnesota president and CEO Judy Poferl said the revision will support investments to serve the customers over the long term.

"Our revised request allows us to facilitate these investments while reducing the size of our requested increase for customers," Poferl added.

"Our proposal takes a balanced approach, mitigating customer impacts now while also meeting the ompany’s need to recover investments already made.

"We offer these proposals in an effort to reach a constructive outcome in this case."