The Colorado Public Utilities Commission (PUC) today approved a three-year electric rate agreement for Xcel Energy that will provide significant rate savings to customers as well as rate predictability over the length of the agreement.

The PUC unanimously approved a settlement granting Xcel a $114 million increase in electric base rates spread over a three-year period. The settlement was supported by Xcel, PUC staff, the Office of Consumer Counsel, a number of medium and large electric customers, and trade groups.


The Colorado Public Utilities Commission (PUC) today approved a three-year electric rate agreement for Xcel Energy that will provide significant rate savings to customers as well as rate predictability over the length of the agreement.
The PUC unanimously approved a settlement granting Xcel a $114 million increase in electric base rates spread over a three-year period. The settlement was supported by Xcel, PUC staff, the Office of Consumer Counsel, a number of medium and large electric customers, and trade groups.
“The settlement provides all Coloradoans with reasonable rate increases for vital services and provides stability and predictability for the next three years, which is important to businesses and consumers,” PUC Chairman Joshua Epel said. “When compared to the magnitude of rate increase that could have occurred, it is a significant savings.”
Residential customers will see increases on average of $1.68 per month in 2012, $1.29 per month in 2013, and $0.73 per month in 2014, for a total of $3.70 per month, or 5.55 percent, over the three-year period.
Commercial customers will see increases of $2.48, $1.94 and $1.21 to their average monthly bills in 2012, 2013 and 2014, respectively. Over the three years this will be an increase of $5.63, or 5.00 percent. Industrial and Transmission customers will see comparable percentage increases as well.
The settlement lowers Xcel’s allowable return on equity to 10.0 percent (from 10.5 percent), and lowers its overall return on rate base to just over 8 percent.