Xcel Energy filed Friday for a $12.2 million decrease in electric rates for Colorado customers.
Xcel said the drop of slightly more than 2 percent reflects natural-gas prices that have been lower this year than the utility originally projected, even though the prices rose sharply during the past week from high power demands during the nationwide heat wave.
Natural gas and coal are the two primary fuels used by Xcel to generate power in Colorado.
If approved by the Colorado Public Utilities Commission, typical residential electric bills would drop by $1.16 to $54.18 a month. Average small-business bills would decrease by $2.34 to $106.02 per month.
“Natural gas continues to be a key driver of the lower cost of generation fuel during these hot months,” said Fred Stoffel, Xcel’s vice president for policy development. “Recently, natural-gas prices have continued to hover at lower-than-projected levels from earlier this year.”
Xcel serves 1.2 million natural-gas customers in Colorado.
Staff writer Steve Raabe can be reached at 303-820-1948 or at sraabe@denverpost.com.
