2023 Colorado Phase II Electric Rate Review

As required by the Colorado Public Utilities Commission, we submitted a proposal on May 15, 2023, to update our pricing plans for Colorado electric customers and align bills with the cost of service. If approved, updated pricing would go into effect in early 2024. This proposal is a continuation of the electric rate proposal we filed with the Commission in November 2022—we’re not requesting any additional revenue.

We’re proposing new pricing that would result in a 0.8% increase in the average monthly residential electric customer bill, which is lower than the increase that would have occurred under our old pricing plan. See the charts below for a comparison between Phase I (rate proposal plan) and Phase II (updated pricing plan) and the anticipated combined impact for our customer classes. Sample bill impacts are based on average customer use. The rate proposal plan is still pending and subject to change by the Commission.

Over the past decade, electric bills for our Colorado customers have been among the lowest in the country and are expected to remain below the national average if our proposed changes are approved.

Learn more about this proposal (PDF)

Read our customer notice (PDF)

Aviso al Cliente (PDF)

Our customer commitment

Xcel Energy is committed to helping customers with their bills when they need it. We will always work with our customers to find ways to lower electricity use through energy efficiency options (external link), conservation programs (external link) and rebates (external link). We also provide payment plans (external link) and income-qualified assistance programs (external link) to get them through difficult times.