Xcel Energy is requesting a rate increase and because of that customers will be paying 15 percent more.
You may see the increase as early as the first of April and will continue through June 30th. Utility officials say wholesale natural gas prices have nearly quadrupled the last six months and because of that, the average residential customer will see their bill rise $8.53 next month.
Xcel says it has been paying more, and now it needs to get the money back and once it over collects than the prices may decrease again, unless of course natural gas prices continue to rise.
The higher price of natural gas is due to more gas being shipped out of Colorado through the Rockies Express Pipeline.