Colorado Public Utilities Commission Approves Xcel Energy Rate Increase for Residential Customers
The Colorado Public Utilities Commission (PUC) has approved a rate increase for Xcel Energy's electricity customers. Residential customers in Colorado will see their monthly bills rise by an estimated $5, representing a 4.77% increase. Commercial customers will experience an average monthly increase of $7.29, or 4.64%. This decision follows months of negotiations between Xcel Energy, state regulators, and consumer advocacy groups, including the AARP and Energy Outreach Colorado. Xcel Energy, the largest electricity provider in Colorado, initially sought a significantly larger increase of $355 million in annual revenue, which would have resulted in nearly a 10% monthly increase for residential customers. The approved increase will allow Xcel to grow its annual revenue by $157 million. The rate hike is expected to appear on customer bills as early as October. 
