State regulators plan to hold public hearings around Wisconsin on Xcel Energy's proposed electric rate increase.

The power company asked in august to increase rates by $47.1 million to offset rising natural gas prices.

That would add about $6.50 a month to an average residential homeowner's electric bill.

But Xcel spokesman Brian Elwood says the company plans to reduce that request to about $16 million to reflect dramatic drops in natural gas prices since august.

The state public service commission has set afternoon and evening hearings on the matter Monday.

One will be on the UW-Eau Claire campus in the Old Library, Room 1132 on 105 Garfield Avenue from 3 p.m. to 6:30 p.m.