Xcel Energy is asking the Colorado Public Utilities Commission for a two-stage increase in its natural gas rates that would cost residential ratepayers an additional 7.44%, or $4.64 per month, between Feb. 15, 2025, and February 2026.
The request includes a proposed 2.54% long-term increase, about $1.59 extra per month for residential ratepayers, after February 2026.
The PUC is seeking comments at a virtual public comment hearing on Xcel’s proposed rate increase from 4 to 6 p.m. Thursday, July 25.
The Zoom hearing will open 30 minutes before the start of the Public Comment Hearing, but the hearing will not start until 4 PM.
Register in advance for this meeting at this website link. Registrants will receive a confirmation email containing information about joining the meeting.
If you would like to observe and not participate in either of these events, you can watch the livestream on YouTube.
Xcel is asking to start accruing the 7.44% residential increase this Nov. 1 but will delay charging customers the higher amount until Feb. 15, 2025.
The request is being delayed to prevent an overlap and even higher bills due to the existing cost recovery for 2021's winter storm Uri. Xcel will begin the rate increase only when the Uri cost recovery expires in February, subject to PUC approval.
In June 2022, the PUC cut $50 million from Xcel’s request to recover $550 million for “extraordinary” fuel costs for five days of sub-zero temperatures that hit the central U.S. and the Colorado Front Range between Feb. 12-16, 2021, causing record spikes in demand and cost for natural gas.
The PUC also fined Xcel $8 million for failing to notify customers of the skyrocketing cost of natural gas so they could reduce their energy use during the storm.
Residential customers have been paying about 13% more for gas and electricity to pay off the storm Uri bill.
Small commercial customers would be paying 4.74% or $12.75 more from February 2025 to February 2026, and 0.61% or $1.29 additional thereafter.
Future opportunities for public comment could be scheduled before the Commission issues a decision on the Xcel request this fall, according to a PUC news release.
Individuals can also submit written or verbal public comments. Public comments should reference Proceeding Number 24AL-0049G and can be provided by:
• Submitting written comments through the Commission’s Electronic Filing System (E-Filings)
• Submitting written comments using the Commission’s online form.
• Submitting through email at dora_puc_website@state.co.us.
• Mailing comments to the Commission’s offices at: Colorado Public Utilities Commission, 1560 Broadway, Suite 250, Denver, CO 80202.
• Calling (303) 869-3490 to leave oral comments (English and Spanish options).
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