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News Releases
8/4/2006
Xcel Energy files $12.2 million Colorado electric rate reduction
DENVER - Xcel Energy announced today it has filed for a $12.2 million decrease in electricity rates with the Colorado Public Utilities Commission (CPUC). The filing would lower the Electric Commodity Adjustment (ECA) rider, which reflects the cost to recover generation fuel and purchased energy.
If approved by the CPUC, typical residential electric bills would drop by $1.16 to $54.18 per month, or 2.1 percent based on monthly use of 625 kilowatt-hours. Typical small-business electric bills would drop by $2.34 to $106.02 per month, or 2.2 percent based on monthly use of 1,265 kilowatt-hours.
The new rates would go into effect Aug. 18, 2006. Since year-end 2005, costs for generation fuel and purchased energy have decreased by approximately $340 million in Colorado, or about 14 percent on both typical residential and small-business electric bills.
“Natural gas continues to be a key drive of the lower cost of generation fuel during these hot months. Recently, natural gas prices have continued to hover at lower than projected levels from earlier this year,” said Fred Stoffel, Xcel Energy vice president for policy development.
Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.3 million electricity customers and 1.8 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at xcelenergy.com.
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