U.S. Markets close in 5 hrs 54 mins

Xcel pushes for $158 million electricity rate increase in Colorado

Greg Avery
Xcel pushes for $158 million electricity rate increase in Colorado

Xcel Energy Inc. wants its 1.5 million electrical customers to start paying more next year and fund grid and meter improvements the power company plans to protect against outages and wildfire and to make conservation easier. The metro-area’s main utility this week asked state regulators to let it raise residential and small business electricity rates, increasing the typical monthly bill 6.5%, or $4.46 monthly, generating an additional $158 million in annual revenue for Xcel Colorado. It’s the first increase to the base electrical rate that Xcel has asked for since 2014.