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DENVER—The Colorado Public Utilities Commission is slashing the amount that Xcel Energy can charge customers to recover costs of its SmartGridCity project in Boulder.
The project is helping the utility see what a modern energy grid would look like.
Xcel initially estimated it would spend $15 million on the project, but its costs rose. An administrative law judge had recommended approving a settlement among Xcel, PUC staff and the Governor’s Energy Office in which Xcel could recover up to $44.5 million from customers statewide through electricity rates.
The Denver Post reports that the PUC on Wednesday capped the recovery amount at $27.9 million for now.
Xcel officials are reviewing the decision.
