MINNEAPOLIS, Feb. 16 (UPI) -- Xcel Energy has asked Minnesota regulators to allow it to expand the generating capacity of one of its nuclear power plants.

The St. Paul Pioneer Press said Friday the public utility company filed an application with the Minnesota Public Utilities Commission for the right to increase the generating capacity of its Monticello nuclear power plant by 70 megawatts.

The increase from the current capacity of 600 megawatts would cost the energy company between $100 million and $135 million.

The acting president of Northern States Power Co.-Minnesota, which falls under the Xcel Energy umbrella, said in a statement the increased capacity would be a great benefit to customers.

"Our analysis shows that adding capacity at Monticello is a very cost-effective option for meeting customers' increasing demand for electricity while helping us accomplish the state's environmental objectives for carbon reductions," Acting President Dave Sparby said.

The Pioneer Press said no rate increase has been announced in relation to the proposal, but one could go into effect once the project receives state approval.