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Xcel Energy said today that due to lower fuel costs it was seeking to reduce electricity rates by about 1 percent and natural gas rates by up to 15 percent.
As part of the quarterly adjustment for fuel costs, Xcel, Colorado’s largest utility, has filed its plan to reduce rates with the Colorado Public Utilities Commission.
The electricity rate reduction would amount to 45 cent drop on the average residential bill of $62.66 for 632 kilowatt-hours. The natural gas cut would reduce the average household bill for 40 therms to $29.27 from $33.83.
The rate reductions must be approved by the utility commission.
