By By Joe Mueller | The Center Square
Monthly Xcel Energy bills will increase approximately 10% or more by 2028 to pay for a wildfire mitigation plan submitted to the Colorado Public Utilities Commission.
The utility emphasized its primary focus is safety for both the communities it serves and its customers in a media release announcing the submission. If the agency approves the plan, residential bills will increase through incremental bi-annual amounts until reaching approximately $8.88 a month by Jan. 1, 2028.
“Our goal is to ensure that no catastrophic wildfire is started by Xcel Energy assets,” Bob Frenzel, president and chief executive officer of Xcel Energy, said in a statement. “And, while we’ve made significant wildfire safety progress in Colorado and achieved key goals, there is still work to be done to meet the evolving threat.”