NEWS RELEASE
XCEL ENERGY
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DENVER – Colorado customers should anticipate relatively flat bills in the second quarter of 2024, with customers who get both their natural gas and electric service from Xcel Energy seeing a slight decrease overall. Natural gas bills are anticipated to be slightly lower, while electric bills will be slightly higher. The Company submitted its proposed quarterly price adjustments to the Colorado Public Utilities Commission, to reflect the current commodity price of the natural gas system and the current cost of fuel used in supplying electricity. These adjustments are updated each quarter and fuel costs are recovered from customers on a dollar-for-dollar basis. Xcel Energy does not profit from fuel cost recovery.
Effects on customer bills
The quarterly Gas Cost Adjustment for the second quarter of 2024 would result in an average monthly decrease of 4.17 per cent, or $1.73, for residential customers. Small commercial customers would see a 4.82 per cent, or $9.19 decrease.
The Electric Commodity Adjustment shows residential electric customers would see a 1.67 per cent increase, or $1.49, while small commercial business customers would see an increase of 1.8 per cent, or $2.26.
If approved by the Public Utilities Commission, new rates would go into effect on April 1, 2024, and would remain in effect for three months.
Xcel Energy provides a range of energy efficiency programs and savings tips customers can access to help save energy and money, keeping their bills as low as possible. Customers can find energy saving tips at xcelenergy.com/tips or learn more about energy efficiency programs and options at xcelenergy.com/programs_and_rebates.
Customers are encouraged to contact Xcel Energy if they’re having trouble paying their bill. The company offers flexible payment plans and can connect customers in need with state and local agencies and advocates who can provide bill pay assistance, free weatherization and energy-efficiency upgrades and HVAC repair and replacement. Customers can learn more about Xcel Energy’s energy assistance programs at xcelenergy.com/EnergyAssistance or call 1-800-895-4999.
Quarterly breakdown of natural gas price changes comparing the first quarter of 2024 to Q2 2024:
|
GCA (*) |
|
|
Q1 ‘24 Current |
|
|
Q2 ’24 Proposed |
|
|
|
|
|
|
Avg. Therm |
|
Commod. |
|
|
Commod. |
|
|
Bill $ |
Bill % |
|
|
Use |
|
Price |
Bill |
|
Price |
Bill |
|
Change |
Change |
|
Residential |
35.2 |
|
$0.4255 |
$41.52 |
|
$0.3764 |
$39.79 |
|
-$1.73 |
-4.17% |
|
|
Avg. Therm |
|
|
|
|
|
|
|
Bill % |
Bill |
|
|
Use |
|
Price |
Bill |
|
Price |
Bill |
|
Change |
Change |
|
Small-Bus. |
187.5 |
|
$0.4202 |
$190.75 |
|
$0.3712 |
$181.56 |
|
-$9.19 |
-4.82% |
Quarterly breakdown of electricity price changes comparing Q1 2024 to Q2 2024:
|
ECA Change Impact (*) |
|
|
Q1 ‘24 |
|
|
Q2 ‘24 |
|
|
|
|
|
|
kWh |
|
Commod. |
|
|
Commod. |
|
|
Bill $ |
Bill % |
|
|
Use |
|
Price |
Bill |
|
Price |
Bill |
|
Change |
Change |
|
Residential |
600 |
|
$0.02540 |
$89.38 |
|
$0.02784 |
$90.88 |
|
$1.49 |
1.67% |
|
|
kWh |
|
|
|
|
|
|
|
Bill $ |
Bill % |
|
|
Use |
|
Price |
Bill |
|
Price |
Bill |
|
Change |
Change |
|
Small-Business |
910 |
|
$0.02540 |
$125.64 |
|
$0.02784 |
$127.91 |
|
$2.26 |
1.80% |
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