Xcel seeks Colo. rate hike to offset higher fuel costs
Associated Press
Friday, September 14, 2007
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DENVER Residential and small-business customers would see electricity bills increase about 11 percent beginning in October under a proposal Xcel Energy submitted Friday to Colorado regulators.
The increase, which would total $57.5 million, would be used to offset higher costs Xcel will pay to purchase fuel for generating electricity and buy energy from other producers, the Minneapolis-based utility said in a statement.
If the proposal is approved by the Colorado Public Utilities Commission, the higher rates will be in effect from Oct. 1 to Dec. 31.
Under the proposal, a typical residential bill would increase 11 percent, or $5.78 a month, based on use of 625 kilowatt hours, Xcel said. A typical bill for a small business would increase 11.6 percent, or $9.49 per month, based on the use of 1,025 kilowatt hours.
Xcel said the increase was filed under a provision that allows the utility to seek rate adjustments to reflect market-based fuel costs.
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