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.
an opportunity to develop land at the edge of town, within eyesight of Interstate 70, has town officials excited about the potential for a long-lasting revenue infusion.