DENVER—Xcel Energy says gas and electricity bills are beginning to creep higher as the price of natural gas rises in Colorado, calling it one consequence of the recovery of the gas market.
The average electricity bill for the 2013 summer quarter is projected to rise almost 6 percent to $76 a month when compared with the summer of 2012, but bills this summer are expected to be down slightly from the first quarter of 2013, Xcel said.
According to the Denver Post ( ), the spot price of natural gas on the New York Mercantile Exchange has risen more than 47 percent to $3.90 for a million British Thermal Units, or BTUs.
“We are beginning to see the pressure of the recovery of the gas market,” said Mark Stutz, an Xcel spokesman.
Xcel is Colorado’s largest utility, serving 1.3 million residential and commercial electric and gas customers.
Last year the natural-gas price hit a 10-year low.
The cost of fuel is just one part of the monthly gas and electric bill, but it is directly passed to customers through the Electric Commodity Adjustment.
Pending approval of the Colorado Public Utilities Commission, the rates are set to go into effect July 1.
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Information from: The Denver Post,
