Xcel Files for Rate Increase in Denver

DENVER—Xcel Energy filed to increase bills by $52.7 million to collect costs associated with updated forecasted fuel and purchased energy prices for the second quarter of 2010 and an under-collected balance for the first quarter. Increased costs of natural gas and rising demand for power generation during the cold winter months led to the balance. This filing of the quarterly Electric Commodity Adjustment (ECA) is expected to increase residential and small-business customer bills by about 8 percent from current bills.

Costs associated with increases or decreases through the ECA are passed along to customers on a dollar-per-dollar basis. The company has filed its rider with the Colorado Public Utilities Commission and if approved, it would go into effect April 1, 2010.

The ECA component of customers’ bills would increase to $0.03738 per kilowatt-hour for the second quarter, compared to $0.02934 per kilowatt-hour for the first quarter of this year. For typical residential customers using 632 kilowatt-hours a month, current bills would increase by $5.18 a month to $71.53. Typical small-business customer using 1,123 kilowatt-hours a month would see current bills rise by $9.21 a month to $122.41.

Xcel Energy 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 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis.

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