Xcel proposes drop in energy rates | SummitDaily.com

Xcel proposes drop in energy rates

DENVER ” Xcel Energy customers are expected to see lower electricity and natural gas bills this summer as commodity prices fall.

The utility on Friday filed price adjustments for electricity and natural gas with the Colorado Public Utilities Commission, which must approve the changes. If approved, the rates would take effect July 1.

Xcel estimated most customers would see electricity bills fall about 9 percent through the next three months while natural gas bills would drop by 18 to 21 percent in July under the proposed adjustments.

Xcel estimated that typical residential customer electricity bills would drop $5.39 to $53.45 per month this summer, while typical small-business customer bills would drop $8.85 per month to $85.98.

As for natural gas, Xcel proposed dropping the commodity price by 19 percent.

Xcel credited the drop in natural gas prices to a drop in seasonal demand and a lack of export pipeline capacity from the Rocky Mountain region.

Natural gas production in the Rocky Mountain area generally is above local requirements this time of year, and a lack of export pipeline capacity is depressing natural gas prices in Wyoming and Colorado, Xcel said.

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