Xcel Energy will cut Colorado bills again in April as natural gas costs continue to fall

While the state’s largest utility is under fire for unsustainable energy bills hitting consumers late in 2022, Xcel has also cut gas costs four times in six months.

Michael Booth
The Colorado Sun
Jeremy Sparig/Special to The Colorado Sun
A housing development at the corner of 29th and Zenobia, in Denver Colorado. Monday, November 21, 2022. Xcel Energy is seeking approval to charge Colorado customers $32 million to upgrade natural gas service for 6,800 customers in the Sloan Lake area of West Denver, Edgewater, and Lakewood, by adding a new regulator station an 18,000 feet of new pipes.
Jeremy Sparig/Special to The Colorado Sun

Xcel Energy is again cutting natural gas costs passed through to consumers starting with April bills, the third price decrease announced in two months, even as a special legislative committee pursues hearings on spikes that overwhelmed Colorado consumers beginning late in 2022.

The latest cut, proposed to the Public Utilities Commission for Xcel’s 1 million Colorado customers for the second quarter of 2023, will take $1.79 or 4% off the average household natural gas bill each month compared to the March bill. Because Xcel also uses natural gas to generate some of its electricity, consumers’ home electric bills will also drop an average of 56 cents over their March bill, or a drop of 2.7%.

In mid-February, Xcel made an “interim” monthly cut to natural gas pass through costs that trimmed March bills by an average of $11.60, or 11.5%. Electric costs were cut $2.08 a month or 2.34%. 

Other cuts of the pass-through cost were made by Xcel on Dec. 1, 2022, and Feb. 1 this year, but those trims followed a series of sharp natural gas price increases in 2022 that were still showing up on residents’ bills this winter. 

A mild winter in Europe has helped lower worldwide natural gas prices, as well as European nations’ relatively quick adjustments to losses of natural gas sources as a result of Russia’s invasion of Ukraine and the sabotage of a North Sea gas pipeline. 

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