Electric rates to dip in Minturn, Red Cliff | VailDaily.com

Electric rates to dip in Minturn, Red Cliff

Cliff Thompson

Xcel Energy, which supplies electricity and gas to portions of Eagle County, announced Tuesday it will be reducing electric rates.

That’s expected to result in a mild savings averaging $1.27 a month for residential electric customers in Minturn and Red Cliff, the two towns in Eagle County that the company serves with electric power. Business customer bills, based on an average use of 1,265 kilowatt hours, will save $2.57 per month. There’s a total of 1,350 resident in the two towns.

The good news on electric rates is tempered by the knowledge that home heating oil and natural gas prices are sharply increasing and may more than nullify the savings in electric energy.

“While the overall decrease is modest, it certainly is good news from the standpoint that we are anticipating stable electricity prices at a time when we continue to see volatility in the marketplace for home-heating fuel,” said Cynthia Evans, Xcel’s Colorado vice president.

The total decrease in electric rates is expected to result in a $51.6 million savings for Colorado customers.

The company said the reduction in electric rates is attributed to cheaper electric-power generating prices industrywide and also to what it called a minor reduction in the cost of providing air pollution measures for Denver-area power plants.

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The price reduction, if approved by the Colorado Public Utilities Commission, will take effect Jan. 1.

Cliff Thompson can be reached at 970-949-0555 x450 or cthompson@vaildaily.com