Xcel Energy seeks $180.2M hike in Colorado electric rates
DENVER, Colorado ” Xcel Energy is seeking a $180.2 million net increase in base electric rates next year, separate from a pending $112.2 million increase expected to take effect in July.
The utility said Friday that the latest request, which would increase typical monthly residential customers’ bills by $4.98, is not expected to take effect until January, if approved by the Colorado Public Utilities Commission.
Xcel had said in November that it would need the increases to recover costs for $1.7 billion it invested in its power generation, transmission and distribution systems.
Those investments included a new, 750-megawatt generating unit in Pueblo, an added 300 megawatts of generation in Platteville and improvements in distribution.