Xcel Energy says natural gas and electric bills will go down in the first quarter of 2022

NEWS RELEASE
XCEL ENGERY
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Customers of Xcel Energy—Colorado will see a decrease in fuel costs for both natural gas and electric bills in the first quarter of 2022, according to information submitted to the Colorado Public Utilities Commission (CPUC).

Xcel Energy’s quarterly Electric Commodity Adjustment (ECA) shows electric rates will decrease by 1.8% from rates in the last quarter of 2021. Residential customers using an average of 593 kilowatt hours (kWh) will see a monthly decrease of 42 cents per month. Small business customers using 929 kWh will see a decrease of 66 cents per month.

While wholesale natural gas prices continue to remain high when compared to last year, prices heading into the next quarter is slightly lower, compared to the fourth quarter of 2021. The quarterly Gas Cost Adjustment (GCA) update for the first quarter of 2022 would result in an average monthly decrease of 4.16%, or $4.26 for residential natural gas customers, when compared to fourth quarter 2021. Small businesses will see an average monthly decrease of 4.5%, or $18.73 when compared to fourth quarter of 2021.

With minor exceptions, costs associated with increases or decreases in fuel prices are passed along to customers without markup. If approved by the CPUC, new rates would go into effect on January 1, 2022 and would remain in effect for three months.

Customers who may be having difficulty paying their energy bill are encouraged to reach out to Xcel Energy for information on available resources to help, and to set up a payment plan if needed.

Customer Information

Xcel Energy encourages customers to explore ways to conserve energy and lower their bills, by visiting www.xcelenergy.com/programs_and_rebates. The website also has information about energy assistance; energy audits; rebates for new, qualified energy efficiency heating and cooling equipment; and various payment options, such as Averaged Monthly Payment. Customers may call 1-800-895-4999 for free copies of company brochures.

Energy Assistance

Customers in need of help paying their utility bills can contact the Low-Income Energy Assistance Program (LEAP) to check on eligibility and assistance levels. Contact HEAT HELP at (1-866) 432-8435, online at www.Colorado.gov/cdhs/LEAP , or through Colorado PEAK at www.Colorado.gov/PEAK . Applications also are available at local county Department of Human Services locations.

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