Xcel Energy customers could soon see another spike in their electricity bill as the the utility company is considering increasing natural gas rates.
Xcel wants to do this in phases to avoid overlap with cost recovery for Winter Storm Uri, which dumped record amounts of snow in Texas back in 2021.
That storm led to a price increase for even us here in Colorado.
Xcel is requesting the next increase to start on Nov. 1, 2024, but customers would not see it on their bills until Feb. 15.
Right now, Xcel said the average gas bill is about $62.
In February, prices will go up by about $5.
Then in 2026, the average bill would drop to about $64.
The Office of the Utility Consumer Advocate said when all is said and done, customers will end up seeing a price hike of more than 9%.
“This is in an era when public policy is focused on affordability and the company puts forth its claims that it is trying to help affordability,” Cindy Schonhaut, director of the Colorado Office of the Utility Consumer Advocate, said.
The online hearing starts at 4 p.m. on Thursday. You can watch it on the Colorado Public Utilities Commission's YouTube page.
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