NEWS RELEASE
XCEL ENERGY
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Colorado residential customers will see an overall decrease in their monthly bills in the second quarter of 2022. The Company submitted its quarterly Electric Commodity Adjustment and Gas Cost Adjustment to the Colorado Public Utilities Commission showing a decrease in the ECA while natural gas costs continue to rise. These adjustments are updated each quarter, allowing fuel costs to be recovered from customers on a dollar-for-dollar basis. Xcel Energy does not profit from fuel cost recovery.
Xcel Energy’s quarterly Electric Commodity Adjustment (ECA) for the second quarter decreased more than 10% from rates in the first quarter of 2022. Several factors account for the drop; however taking fuel costs into account, residential customers would see a decrease of $2.42 in their average monthly bill. Small businesses would see their average monthly bill drop by $3.80 compared to the first quarter of 2022.
As natural gas costs continue to rise, Xcel Energy’s quarterly Gas Cost Adjustment (GCA) filing indicates residential customers will pay an average of $1.25 more per month on their typical bill next quarter as compared to the first quarter of 2022. Small businesses will see an average monthly increase of $5.83, as compared to the first quarter of 2022.
If approved by the CPUC, new rates would go into effect on April 1, 2022 and would remain in effect for three months.
A breakdown of the electricity price changes comparing first quarter of 2022 to the second quarter of 2022 is provided below:
|
ECA Change Impact (*) |
|
|
Q1 ‘22 |
|
|
Q2 ‘22 |
|
|
|
|
|
|
KWh |
|
Commod. |
|
|
Commod. |
|
|
Bill $ |
Bill % |
|
Use |
|
Price |
Bill |
|
Price |
Bill |
|
Change |
Change |
|
|
Residential |
593 |
|
$0.03790 |
$79.54 |
|
$0.03389 |
$77.11 |
|
-$2.42 |
-3.05% |
|
|
KWh |
|
|
|
|
|
|
|
Bill $ |
Bill % |
|
Use |
|
Price |
Bill |
|
Price |
Bill |
|
Change |
Change |
|
|
Small-Business |
929 |
|
$0.03790 |
$118.96 |
|
$0.03389 |
$115.17 |
|
-$3.80 |
-3.19% |
A breakdown of the natural gas price changes comparing first quarter 2022 to the upcoming second quarter of 2022 is provided below:
|
GCA (*) |
|
|
Q1 ‘22 |
|
|
Q2 ‘22 |
|
|
|
|
|
|
Avg. Therm |
|
Commod. |
|
|
Commod. |
|
|
Bill $ |
Bill % |
|
|
Use |
|
Price |
Bill |
|
Price |
Bill |
|
Change |
Change |
|
Residential |
36.5 |
|
$0.4981 |
$42.92 |
|
$0.5322 |
$44.17 |
|
$1.25 |
2.91% |
|
|
Avg. Therm |
|
|
|
|
|
|
|
Bill % |
Bill |
|
|
Use |
|
Price |
Bill |
|
Price |
Bill |
|
Change |
Change |
|
Small-Bus. |
170.6 |
|
$0.4931 |
$175.03 |
|
$0.5273 |
$180.86 |
|
$5.83 |
3.33% |
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.
About Xcel Energy
Xcel Energy (NASDAQ: 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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