DENVER (AP) -- Xcel Energy is proposing an $8 million refund in electric rates for Colorado customers based on the company's financial performance.
If the plan is approved by the Colorado Public Utilities Commission, the refund would appear beginning July 1 as a half a percent reduction to base electric rates for the next year. Typical residential customer bills would decrease by 25 cents per month, while typical small-business customers would see a decrease of 52 cents.
The company says the 2012 multi-year electric rate case agreement was the first of its kind for Xcel Energy in Colorado. It includes a commitment to not make any additional requests to raise base rates until 2015. Rates can still change for certain items such as fuel or purchased power costs.