November heating bills will more than double from October for residential customers of Xcel Energy – a consequence of colder weather and higher natural gas prices.
Xcel filed today with state regulators a proposal to increase natural gas prices by 11 percent in November. That increase, combined with typically colder weather in November and more need for heat, will cause home heating bills to rise an average of 104 percent from October to November.
The typical residential heating bill for November will be $131 compared to October’s $64. Small-business natural gas bills will average $628 in November, up from $324 in October.
The natural-gas price increase filed by Xcel is a direct pass-through to consumers, reflecting Xcel’s higher costs to purchase gas. The utility neither profits nor losses money from changes in natural gas prices.
Xcel said prices have risen over the past month because of lost production of natural gas from the Gulf of Mexico from hurricanes Katrina and Rita. In addition to tight supplies of natural gas, prices also have risen because of higher demand with the onset of the winter heating season, Xcel said.
Staff writer Steve Raabe can be reached at 303-820-1948 or at sraabe@denverpost.com.
