A drop in prices for fuel and purchased energy, along with end-of-summer pricing, will lower residential electric bills by about 12.6 percent starting Oct. 1, Xcel Energy said Wed nesday.
The typical residential electric bill would drop $8.97 to $62.44 a month, based on use of 632 kilowatt-hours, Xcel said in a statement.
In June, as an energy-saving measure, Xcel began charging residential customers 4.6 cents a kilowatt-hour for the first 500 kilowatt-hours and 9 cents for each additional kilowatt-hour.
The two-tier system goes out of operation in October and will return next June.
Small-business customers in Colorado, which are not subject to tiered rates, should see a 5.1 percent drop in typical electric bills starting Oct. 1 as a result of lower fuel and purchased-energy costs, the company said.
