Colorado Consumers Push Back Against Xcel Rate Hike Proposal

By: Ishan Thakore | CPR News

Xcel Energy’s proposed deal to raise average residential energy bills by nearly 6% is running into a wall of opposition from Colorado consumer and environmental groups. 

The proposed residential rate increase would be among the largest ever in the state, according to the Colorado Office of the Utility Consumer Advocate (UCA), which advocates for customers and is opposed to the deal.

In November, the state’s largest utility petitioned state regulators at the Public Utilities Commission to let it increase how much it charges for electricity. Xcel hadn’t requested a major price hike to its customer base rates since 2022.

Last year, the company said it needed to recoup around $356 million it spent to build new renewable energy projects, transmission lines, and more. That amount would have raised average residential bills by roughly 10%, according to the company’s analysis.

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