Electric rates will go up for Xcel Energy customers starting Sept. 1 following state regulators’ approval of a roughly $97 million increase in revenue for the utility. The new rates will incr…
Electric rates will go up for Xcel Energy customers starting Sept. 1 following state regulators’ approval of a roughly $97 million increase in revenue for the utility.
Speakers in hearings leading up to the decision contended that Xcel Energy didn’t need a rate hike because of previous increases and a jump in its net profits in Colorado to $727 million in 2022 from $660 million in 2021.that the director, Cindy Schonhaut, said would have reduced monthly bills by about 4%.
“We take the question of affordability very seriously. It’s our priority issue,” Schonhaut said. “The only way you can address affordability is not just to not allow any increases, but also to have some decreases, even small ones, here and there.”
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