Xcel Energy seeks $180.2M hike in electric rates

By: Associated Press Email
By: Associated Press Email

Denver (AP) - Xcel Energy is seeking a $180.2 million net increase in base electric rates next year, separate from a pending $112.2 million increase expected to take effect in July.

The utility said Ffriday that the latest request, which would increase typical monthly residential customers' bills by $4.98, is not expected to take effect until January, if approved by the Colorado Public Utilities Commission.

Xcel had said in November that it would need the increases to recover costs for $1.7 billion it invested in its power generation, transmission and distribution systems.

Those investments included a new, 750–megawatt generating unit in pueblo, an added 300 megawatts of generation in Platteville and improvements in distribution.

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