NEWS RELEASE
XCEL ENERGY
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Colorado customers will see a slight decrease in their bills for the third quarter of 2023 as fuel costs continue to drop, as reflected in the proposed quarterly fuel price adjustments that have been submitted to the Colorado Public Utilities Commission. Xcel Energy does not profit from an increase in natural gas or electricity fuel prices.
For electric customers under the proposed quarterly Electric Commodity Adjustment for the third quarter, residential customers are expected to see a decrease of $1.99 per month while small businesses would pay approximately $3.02 less on a typical monthly bill compared to the second quarter of 2023.
Under the quarterly Gas Cost Adjustment, residential natural gas customers are expected to pay an average of $1.40 less on their typical monthly bill next quarter as compared to the second quarter of 2023. Small businesses will see an average monthly drop of $7.53, as compared to the second quarter of 2023. The proposed Q3 2023 GCA rate will be the lowest since the first quarter of 2021 for both residential and small business customers.
With minor exceptions, costs associated with increases or decreases through these electric and natural gas adjustments are passed along to customers on a dollar-per-dollar basis. If approved by the CPUC, new rates would go into effect on July 1, 2023 and would remain in effect for three months.
A breakdown of the electricity price changes comparing second quarter of 2023 to the third quarter of 2023 is provided below:
A breakdown of the natural gas price changes comparing second quarter 2023 to the upcoming third quarter of 2023 is provided below:
Customer Information
Customers should reach out if they’re having difficulty paying their bills so Xcel Energy can help connect them to payment assistance programs or help them enroll in an Averaged Monthly Payment program to make their monthly energy bills more predictable. To learn more about energy assistance options, customers can visit xcelenergy.com/EnergyAssistance or call 1-800-895-4999.
Xcel Energy is taking many steps to lower bills and provide more resources to help customers in Colorado. Customers can visit a new online one-stop shop at xcelenergy.com/Colorado with ways to save energy and money, explore energy-efficiency incentives and rebates, have more stable bills, and learn about payment assistance.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
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