News Releases

Xcel Energy/Cheyenne Light, Fuel and Power Company files for an electric rate decrease

CHEYENNE, WYO. - Xcel Energy/Cheyenne Light filed a request with the Public Service Commission of Wyoming seeking authorization for a $5,344,064 reduction in the electric cost component of the Company’s rates.  The Electric Cost Adjustment (ECA) application proposes a January 1, 2004 effective date.

The application represents revisions to the 2004 through 2005 sales and power forecast, projected transmission costs for the year 2004, and recovery of deferred energy expenses incurred by the Company.  These expenses are passed through to customers on a dollar-for-dollar basis, and the Company does not retain any of the revenue, or make a profit on the revenue.

With the Commission’s approval, Xcel Energy/Cheyenne Light will decrease the monthly bill of its typical residential customer, who uses an average of 613 kilowatt hours of electricity per month, by approximately $3.23.  That represents a cost decrease of 5.4 percent compared to existing rates.  (see table below)

A typical small business customer, using 954 kilowatt hours per month, will pay $3.94 less, or a 4.4 percent decrease compared to current rates.

“Effective January 1, 2004, Xcel Energy/Cheyenne Light will enter into a new four year full requirements purchase power supply contract with the Public Service Company of Colorado” said Rick Kaysen, President of Xcel Energy/Cheyenne Light.  “This new contract is the single most contributing factor to the requested reduction in electric rates, and is the result of the Company’s year long efforts in securing the lowest cost and most reliable energy   delivery   agreement.  The   new   contract   reflects    the    Company’s commitment to reduce energy prices as we have stated previously,” Kaysen added.

“Looking forward, customer electric commodity prices for 2004 and 2005 should remain stable as identified in the application to the Commisssion.  In 2006 and 2007, the last two years of the new four year agreement, we expect the electric customer commodity prices will decrease as well,” Kaysen said.

Customers who have trouble paying their bills on time can contact Xcel Energy/Cheyenne Light locally at 638-3361 to establish payment arrangements.  Low-income customers can contact the Low Income Energy Assistance Program at 1-800-246-4221 to see if they might qualify for financial assistance on their energy bills.

Energy Share of Wyoming is a non-profit organization that provides financial assistance to needy families facing winter heating emergencies.  “Despite lower prices, many customers may still have difficulty making ends meet this winter,” Kaysen said.  “I urge our customers to join with Xcel Energy/Cheyenne Light and help support the Energy Share of Wyoming program so they can help those families who will struggle financially this winter.”  Xcel Energy/Cheyenne Light shareholders donated $10,000 in 2003 to the Energy Share of Wyoming program, and will do so again in 2004.

*Prices used represent typical Xcel Energy/Cheyenne Light residential and small business customers.  Price differentials are based on current prices and those proposed in the Electric Cost Adjustment applications.  Prices are subject to change depending on market fluctuations.