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Xcel Energy announces fourth quarter price increase for electric, natural gas customers

Customers of Xcel Energy Colorado will see an increase in their energy bills in the last quarter of 2020 due to higher prices in natural gas and other energy resources.
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Photo by Jonathan Hanna on Unsplash

NEWS RELEASE
XCEL ENERGY
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Customers of Xcel Energy Colorado will see an increase in their energy bills in the last quarter of 2020 due to higher prices in natural gas and other energy resources, according to a Wednesday filing with the Colorado Public Utilities Commission.

The proposed quarterly Electric Commodity Adjustment for the fourth quarter of 2020 would result in an increase of 5.11%, or a $3.54 difference for residential customers from the third quarter 2020. Small businesses will see a monthly increase of $5.39 or a 5.21% increase.

Xcel Energy’s quarterly Gas Cost Adjustment filing shows residential customers will pay an average of $4.98 more on their typical bill next quarter as compared to the fourth quarter of 2019, which is an increase of 8.83%. Small businesses will see an average monthly increase of 8.85%, or $19.72, as compared to the fourth quarter of 2019.

With minor exceptions, costs associated with increases or decreases through the Electric Commodity Adjustment and Gas Cost Adjustment are passed along to customers on a dollar-per-dollar basis. If approved by the Public Utilities Commission, new rates would go into effect on Oct. 1, and remain in effect through Dec. 21.

Customers who are experiencing difficulty paying their energy bills are encouraged to reach out to Xcel Energy for resources and to help set up a payment plan.

A breakdown of the electricity price changes comparing third quarter of 2020 to the fourth quarter of 2020 is
provided below:

 

Screenshot 2020-09-16 at 6.38.26 AMCaption

A breakdown of the natural gas price changes comparing fourth quarter 2019 to the upcoming fourth
quarter of 2020 is provided below:

Screenshot 2020-09-16 at 6.40.33 AM*************************

 




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