Electric vehicles are the next frontier in the clean energy transition, and we are committed to making charging EVs easy, convenient and affordable for customers. By accelerating EV adoption in the coming years, we can drive major reductions in carbon emissions while helping our customers save money and making the most of our clean energy investments. The Transportation Electrification Plan (TEP) Rider supports these efforts.
For less than 30 cents on a typical residential customer’s bill, this rider supports programs to make electric transportation easier and more accessible for everyone, including those who live in multi-family housing or other rental housing; people who use public transit; electric bike and scooter riders; and vehicle owners who need to charge at public charging stations at work, on the road or while parked at shopping centers, commute hubs or the airport.
The rider appears on bills under “Electricity Charges” and is listed as Trans Elec Plan. It will be collected on monthly bills beginning in March 2021.
A typical residential customer can expect to see an increase of 29 cents per month on their electricity bill (or 0.4 %) compared to current rates. A typical small commercial customer can expect to see an increase of 34 cents per month on their electricity bill (or 0.3%) compared to current rates.
In the long run, additional electricity sales generated by EVs more than pay for the system investment required to support them. So as more vehicles transition to electric, everyone will benefit from cleaner air and lower bills.
In accordance with Decision No C21-0017 in Proceeding No. 20A-0204E, Xcel Energy—Colorado agreed to provide 60/90-day notice to interested stakeholders of material changes to the Transportation Electrification Plan portfolios.
Under the 60-day notice, any proposal to add a new program or product, including innovation projects, or to change technical assumptions or eligibility requirements, requires the company to notify interested stakeholders, after which the stakeholders have 30 days to respond. The company then has 30 days to consider comments and make its decision.
When proposing to discontinue programs or products, the company will issue notice of discontinuance in a 90-day notice to interested stakeholders after which the stakeholders have 30 days to respond. Xcel Energy will then have 60 days after the deadline to consider the comments received and make a final decision on its proposed discontinuance.
|Program 60-Day Notice Description||Notification Date||Comments Due|
For more information, email Patrick Murphy, Regulatory Case Specialist.
Filing materials related to the initial proposal are available below. You can also follow the proceedings and access electronic filings at the Colorado Department of Regulatory Agencies (external link). Search for Proceeding No. 20A-0204E.
Our Commercial & Industrial Transmission Service customers and Lighting Service (Area Lighting and Public Street & Highway Lighting Service) are exempt from this rider.
The additional electricity sales generated by EVs more than pay for the system investment required to support them. So as more vehicles transition to electric, everyone will benefit from cleaner air and lower bills, including people who don’t drive an EV.
The rider collects revenue recovery for all programs included in the Colorado Transportation Electrification Plan, except the school bus electrification program. The company funds the school bus electrification program with Renewable Energy Credits (or RECs) and carbon offset sales.
As drivers and fleet operators replace vehicles with EVs, they will see substantial savings on fuel, because driving electric is equal to spending about $1 per gallon of gas -- less when charging overnight. By 2030, an EV would cost $700 less per year to fuel than a gas-powered car, saving customers $1 billion annually.
Powering 1.5 million EVs would reduce carbon emissions by nearly 5 million tons annually by 2030, about three tons per vehicle. Electric vehicles charged on the increasingly clean Xcel Energy system will have about 80% lower carbon emissions than gas-powered cars by 2030 and reduce other emissions that impact public health.
In addition to helping EV owners charge up at home and on the go, our programs aim to give all customers access to clean, affordable, electric transportation. That includes working with transit agencies and car sharing organizations to increase access, especially in underserved communities. Approximately 15% of the program budget is directed toward equity-focused programs.
Xcel Energy has announced its vision to drive toward powering 1.5 million electric vehicles in its service areas by 2030. As a result of this vision, EVs would make up 20% of all vehicles on the road in those areas, more than 30 times the number today, helping save customers billions in fuel costs, while significantly cutting carbon emissions from transportation.
In January 2021, Colorado regulators approved Xcel Energy's $110 million transportation electrification plan, which will install up to 20,000 charging stations, provide rebates for the purchase of an electric vehicle, and add programs and rates to help manage the new charging load. The State of Colorado has set a goal of having 940,000 EVs on the road by 2030, and this plan will help the state achieve that.
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