Xcel Energy’s residential customers will see a 38 percent increase in their electricity bills during the third quarter compared with the same period a year ago under a proposal filed with regulators this week.
Typical residential electricity bills from July through September are projected to increase to $73.89 a month from $53.45 during the third quarter of 2007, Xcel said Tuesday.
The state’s largest utility attributed the increase primarily to the rising cost of natural gas, which is one of the main fuels Xcel uses for generating electricity. Xcel and other utilities are required under Colorado law to pass fuel costs directly to consumers, dollar for dollar, without profit or loss. As such, regulators generally approve such fuel-cost adjustments quickly.
Typical electricity bills for small businesses would jump to $119.57 a month from $85.98.
Xcel’s natural-gas customers also will see a 38 percent jump in their bills in July. Typical home heating bills will increase to $28.23 from $20.50 in July 2007. Natural-gas bills for small businesses are projected to surge 58 percent to $124.91 from $79.26 a year ago.
Xcel residential customers who are subscribed to the company’s wind-energy program will see a 36 percent hike under the proposal. The company said that increase is designed to better reflect the actual cost of the program.
Andy Vuong: 303-954-1209 or avuong@denverpost.com
