NEWS RELEASE
XCEL ENERGY
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DENVER – Customers of Xcel Energy—Colorado will see an increase in fuel costs for both their natural gas and electric bills in the first quarter of 2021, according to a filing made with the Colorado Public Utilities Commission (CPUC).
Xcel Energy filed its quarterly Electric Commodity Adjustment (ECA) with the CPUC. Colorado residential customers using an average of 617 kilowatt hours (KWh) will see a monthly increase of less than one dollar per month, or 1.18%. Small business customers using 941 KWh will see a $1.31, or 1.20%, increase.
These small changes are driven by a number of quarterly resource production patterns including wind as well as recovery of deferred expenses.
The quarterly Gas Cost Adjustment (GCA) update for the first quarter of 2021 would result in an average monthly increase of 12.2%, or $7.44 for residential customers, when compared to the first quarter of 2020. Small businesses will see an average monthly increase of $31.67 compared to the first quarter of 2020.
However, when compared to the fourth quarter of 2020, customers will see a bill decrease. From fourth quarter 2020 to first quarter 2021 the cost of natural gas is lower.
With minor exceptions, costs associated with increases or decreases through the ECA and GCA are passed along to customers on a dollar-per-dollar basis. If approved by the CPUC, new rates would go into effect on January 1, 2021 and would remain in effect for three months.
Customers experiencing difficulty paying their energy bill are encouraged to reach out to Xcel Energy for resources and to help set up a payment plan.
Customer Information
Xcel Energy encourages customers to explore ways to conserve energy and lower their bills, by visiting www.xcelenergy.com/programs_and_rebates. The website also has information about energy assistance, energy audits, rebates for new, qualified energy efficiency heating and cooling equipment and various payment options, such as Averaged Monthly Payment. Customers may call 1-800-895-4999 for free copies of company brochures.
Energy Assistance
Customers in need of help paying their utility bills can contact the Low-Income Energy Assistance Program (LEAP) to check on eligibility and assistance levels. Contact HEAT HELP at (1-866) 432-8435, online at www.Colorado.gov/cdhs/LEAP , or through Colorado PEAK at www.Colorado.gov/PEAK . Applications also are available at local county Department of Human Services location.
About Xcel Energy
Xcel Energy (NYSE: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit www.xcelenergy.com or follow us on Twitter or Facebook.
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