In addition to the electricity rate increase Xcel Energy also is asking for a temporary rate increase to recoup $550 million in extra electric and natural gas costs incurred by as a result of a severe winter storm in February 2021, which led to a spike in natural gas prices. 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Access resources and brochures including our Business Rates and Residential Rates documents. The PUC voted 3-0 to accept the increase, which was agreed upon in rate-case negotiations that included the Colorado Utility Consumer Advocate and Energy Outreach Colorado, a nonprofit advocacy organization that, among other things, helps low-income households pay utility bills. All other hours, plus weekends and holidays, are considered off-peak and billed at 5.1 cents per kWh no matter what the season. However, they all function with the same basic principle. In Colorado, the average monthly electric bill for residential customers is $132/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 903 kWh * 15 /kWh. 0000005336 00000 n Xcel Energy Colorado has asked the Colorado Public Utilities Commission to pass through some significant increases in natural gas costs, as well as higher electricity costs, to its customers in the third quarter. 0000001850 00000 n If you subscribe to a community solar project, youll likely receive two separate monthly bills: one from your utility company and one from your community solar provider. Colorado: 12.28 / kWh: 12.75 / kWh: DOWN-3.686 %: Connecticut: 21.62 / kWh: 20.47 / kWh: UP: 5.617 %: DC: . 2023 Colorado Public Radio. Xcel relies increasingly on wind power that reaches transmission grids at night. The real-time readouts will give a household a better handle on when and how much energy they use, said Xcel Energy-Colorado President Alice Jackson. He's also worked for Financial Times Energy, the Denver Business Journal and Arab News. They will give customers a clearer and more precise picture of their energy use and enable Xcel to implement time-of-use rates, charging more at peak demand times and less during low-use periods. And as is the case with so many items this year, those commodities are marching higher. The Colorado Public Utilities Commission gave Xcel a green light to spend up to $419 million to install the devices, known as advance installation meters, or AIM.The cost will be passed on to customers. 0000004607 00000 n Energy & Financial Markets: What Drives Crude Oil Prices? The shoulder period will be weekdays from 1 to 3 p.m., billed at 9.5 cents per kWh in summer and 6.9 cents in winter. Colorado Postcards are snapshots of our colorful state in sound. The current system charges flat rates of 12.5 cents per kilowatt-hour during winter and 13.6 cents during summer. Regional energy information including dashboards, maps, data, and analyses. These meters read household energy use in real-time and report it back to Xcel. However, signing up for a. The easiest way to compare the cost of electricity from one region to another is to look at the electricity rate. Net metering caps are set at the state level. Many Xcel Energy customers in Colorado received an early surprise this holiday and no, it wasnt from Santa Claus. When a customer generates more electricity than they used in a month, Xcel Energy considers that customer a net producer and does not bill the customer for any kilowatt hours (kWh) during that billing cycle. 0000005905 00000 n 0000016950 00000 n Electric rate plans include a quarterly Electric Commodity Adjustment, which recovers the cost of fuel and purchased energy used to supply electric service. Xcel Energy's costs vary with changes to the costs of fuel (coal and natural gas) and . Almost all 1.6 million Xcel Colorado customers will have smart meters by the end of 2023. Come test out some of the products still in development and let us know what you think! 0000004080 00000 n or by reducing the cost of electricity, by installing solar for instance. Electricity use after. As customers pore over their energy bills, lets break down some of the costs. Although a 6.42% rate is troubling to me, I find the settlement is just and reasonable, Commissioner John Gavin said. These credits are valued at the Average Hourly Incremental Cost of Energy from the previous 12 months, which is calculated based on the cost the utility incurred by generating and producing electricity. Xcel teams have focused on major appliances that use the most electricity during the 3 p.m. to 7 p.m. peak hours. If all those rate increases are eventually approved, an Xcel Energy spokesperson said the average household should expect their total gas and electricity bills to jump by more than $16 a month. 0000007148 00000 n The net producer receives bill credits for each excess kWh produced and these credits are stored in a Solar Bank for future use. Will community solar save me money every month? The PUC reviews those costs to assure they are appropriate and then sets an appropriate return on the investments the company has made. ENERGYSAGE is a registered trademark and the EnergySage logo is a trademark of EnergySage, Inc. Other trademarks are the property of either EnergySage, Inc. or our licensors and are used with permission. Greenhouse gas data, voluntary reporting, electric power plant emissions. Energy Outreach Colorado helps residents sign up for other assistance programs, such as the Low-income Energy Assistance Program, known as LEAP. - Values for 2021 are final. Program Capacity: Unused capacity from program year 2021 and make available 2 MW of additional capacity per month until 2022-25 RE Plan begins. We're proud to have helped thousands of homes and businesses in The Keystone State lower their energy costs. Electric bills are designed to cover all of the costs of producing the electricity that you use, of running and maintaining the electrical grid to help prevent outages, and of any public benefit funds that promote things like renewable energy and energy efficiency. Along with the application, the customer or solar installer must also submit an application deposit which will be refunded if the application is completed within 12 months. These costs are rolled into both fixed charges (i.e., monthly customer charges) and variable charges (i.e., /kWh that you use). 0000007808 00000 n We can help you keep up. Small business customers using 941 KWh will see a $1.31, or 1.20%, increase. %PDF-1.4 % using less electricity Xcel Energy must collect and maintain this documentation via the Photovoltaic Installation Supervision Certification form which is available online. Xcel Energy is looking to raise more than $188 million through the rate increases in the coming years to upgrade its natural gas infrastructure, fund programs to better insulate buildings and. The hope is that customers will shift more of their energy demand to the cheaper time periods, making better use of generating resources and avoiding big surges in electricity demand, when the utility has to bring on so-called peaker plants, which are expensive to run. Financial market analysis and financial data for major energy companies. I dont even know that a lot of people know what causes things with their utility bills, said Denise Stepto, a spokesperson for Energy Outreach Colorado, a state nonprofit that helps people with high energy costs. 0000006527 00000 n 0000016363 00000 n Maps, tools, and resources related to energy disruptions and infrastructure. Xcel Energy does not profit from the natural gas and electricity it buys at wholesale prices. View the Fuel Cost Charges by class category for the previous and current month. 0000012249 00000 n Social media sites and online communities like Facebook and Nextdoor have flooded with hundreds of customers expressing outrage over surging monthly bills. 0000045968 00000 n Xcel Energy representatives say much of the increase stems from higher prices for natural gas, a commodity used to heat and power homes during colder months. This Newsmaker has been deemed by this Newsroom as having a specialized knowledge of the subject covered in this article. The Colorado Sun is a journalist-owned, award-winning news outlet based in Denver that strives to cover all of Colorado so that our state our community can better understand itself. 0000047436 00000 n In addition, there are 29 municipal utilities and 22 rural electric cooperatives which arent required to offer net metering. As a public utility, we operate in a regulated industry, which means we must set our prices (rates) through the formal process of filing a rate case. Always call 811 before digging in your yard to avoid hitting buried gas or electric lines. you can expect to save $1,600 in your first year, The average residential electricity price for patrons of Xcel Energy is roughly 13.81 cents per kilowatt hour. All rights reserved. Under Xcels current two-tier summer rates customers pay 5.5 cents for each of the first 500 kWh and 9.9 cents for each kWh above that. Because of rising commodity prices, Xcel Energy, Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Twitter (Opens in new window), Get to know all 17 Denver mayor candidates , Because of rising commodity prices, Xcel Energy customers could see bills increase, While Xcel Energys bill for winter storm was nearly $1B, its first-quarter earnings were up, Xcel Energy customers could see higher bills starting April 1 as utility seeks to offset rising gas prices, Xcel Energy ups ante on cutting greenhouse-gas emissions, pledges 85% reduction by 2030, | Economy and Residential Real Estate Reporter The Denver Post, Suncors Commerce City refinery is returning to full capacity, Colorado city gives big incentive offer in hopes of luring states biggest EV battery plant, Price of gas in Colorado has risen 51% since Suncors refinery shutdown in late December, Colorado AG wants to hear from AmeriGas about customers claims of not getting propane, After School Satan Club launching first Colorado chapter, but organizer promises "we are not devil worshippers", PHOTOS: Bruce Springsteen and The E Street Band play Ball Arena in Denver, Colorado property owners to face astronomical tax increases next year, Colorado landlords say eviction-protection proposal could make dropping problem renters too hard, No more greasy pizza boxes, paper towels or takeout containers in Front Range compost bins come April 1, 5 can't-miss menus for Denver Restaurant Week, After teen's death, Denver East High students walk out to advocate for gun legislation, Metro Denver housing market crosses firmly into negative territory in February, Boulder house where JonBenet Ramsey was found dead listed for sale for almost $7M, Kiszla: With Brendan Rodgers down and out, Kris Bryant could become $182 million face of worst team in Rockies history, As Adderall shortage continues, DEA plans to limit some telemedicine prescriptions, House where JonBenet Ramsey was found dead listed for sale for almost $7M, Columbia University permanently drops SAT, ACT admissions requirement, The Waterbed Doctor: California retailer lays claim to retro bed with nearly 40 years of service, sales, Felonious Florida podcast: Missing teenage girl leads to several cases of child sex trafficking, Do Not Sell/Share My Personal Information. Shifting from peak period to nighttime use of other electrical appliances such as computers, lamps, fans and TVs probably wouldnt affect bills significantly, officials said. At stake, officials said this week, is the amount of electricity Xcel would have to generate using natural gas, also a fossil fuel, as a bridge to cleaner sources. The company will be back in for rate requests in the next 3 or 4 years at the outside.. Exploration and reserves, storage, imports and exports, production, prices, sales. Compared to the third quarter of 2020, residential users are facing a 7.7% increase in their electricity costs on average. Residential Plan Information Time of Use Pricing Consumer advocates in the past have raised concerns about economic impacts on low-income households where residents may have less ability to shift when they use electricity. When this amount is reached, Xcel Energy sends customers a check for the total amount. This article contains new, firsthand information uncovered by its reporter(s). Theyre launching the new pricing gradually. Its a totally different thing when it actually happens, and its shocking when its double.. and $36,600 over 20 years on electric bills in Colorado. Monthly electric bills are a product of how much electricity you use per month and your electric rate. Sign up here and we will see you in the morning! Natural gas costs on the average residential bill are expected to rise from $23.68 a month in the second quarter to $25.01 a month in the third quarter, an increase of $1.33 or 5.6%. 0000014224 00000 n Customers of Xcel Energy Colorado will see an increase in fuel costs for both their natural gas and electric bills in the first quarter of 2021, according to a filing made with the Colorado Public Utilities Commission (CPUC). You want to know what is really going on these days, especially in Colorado. Energy-Related Carbon Dioxide Emissions, Energy-Related Carbon Dioxide Emissions at the State Level, Annual Solar Photovoltaic Module Shipments Report, Midwest and Rocky Mountain Transportation Fuels Markets, East Coast and Gulf Coast Transportation Fuels Markets, Electricity Data Browser (interactive query tool with charting & mapping), Sales (consumption), revenue, prices & customers, Consumption of fuels used to generate electricity, Receipts of fossil-fuels for electricity generation, Average cost of fossil-fuels for electricity generation, Fossil-fuel stocks for electricity generation. Other electric utilities in the state include Alliant Energy which offers a similar net metering program but does not have a community solar program. Xcel will charge residents 17 to 28 cents per kilowatt hour of electricity during the peak period on weekdays between 3 p.m. and 7 p.m., according to company rate tables. The new meters read household energy use in real-time, designed to give customers more accurate reads. This means running your largest appliances during the 18 off-peak hours before 1 p.m. and after 7 p.m. will cost less. Late last year, the PUC approved a time-of-use rate schedule for Xcel. The June-to-September rates would charge customers 11.1 cents a kilowatt-hour (kWh) for electricity during the peak 3 p.m. to 7 p.m. period, 8.3 cents for the "shoulder" periods of 11 a.m. to 3 p.m. and 7 p.m. to 10 p.m. and 5.5 cents a kWh of the off-peak, 10 p.m. to 11 a.m., period. Access all sections of the Electric Rate Book, along with the rate riders for the state of South Dakota. Colorado residential customers using an average of 617 kilowatt hours (KWh) will see a monthly increase of less than one dollar per month, or 1.18%. The nonprofit received nearly 17,000 calls from customers last week, the highest amount since it began tracking call totals in 2020, Stepto said. The utility offers net metering in seven of those states (all except South Dakota). Xcel will collect a new fee, listed as EGCRR through customers energy bills, for up to 30 months, according to the company proposal. The average residential electricity rate in Colorado is 15 /kWh, which is 36% lower than the national average rate of 23 /kWh. Enter your zip code to see solar quotes near you. And reducing use of gas-powered appliances wont make a difference. The gas supply market is not regulated and has never been, said Cindy Schonhaut, the director of the Colorado Office of the Utility Consumer Advocate. ABOUT US. These include dishwashers, ovens, dryers, washing machines, and air-cooling systems. Under the time-of-use rates there will be three sets of charges for three different time periods. Xcel Energy's program is comparable to other utilities and for customers in New Mexico choosing a company comes down to location. We're here to help you stay informed when it comes to our rates. The amount that you can save with solar in Colorado is based on two factors: how much you spend on electricity now and how much of your electric bill you can offset with solar. There are two ways to use the Solar Bank. The Solar*Rewards program offers per-kWh cash incentives for customers to install rooftop solar in Colorado, Minnesota, and New Mexico. Household energy costs were up a more modest 3.1%, but that rate of increase is likely to tick up in the coming months as utilities pass through higher commodity costs. Annual electricity statistics back to 1949. Comprehensive data summaries, comparisons, analysis, and projections integrated across all energy sources. startxref Will a solar loan be less than my electric bill? Solar Rewards Medium Program. All solar systems required to have a production meter. Xcel officials say theyre trying to prevent overloads as they modernize their energy system toward a goal of carbon-free electricity in Colorado by 2050. 0000016865 00000 n Tools to customize searches, view specific data sets, study detailed documentation, and access time-series data. The Office of the Utility Consumer Advocate argued otherwise. 0000044211 00000 n ENERGYSAGE is a registered trademark and the EnergySage logo is a trademark of EnergySage, Inc. Other trademarks are the property of either EnergySage, Inc. or our licensors and are used with permission. Aldo Svaldi has worked at The Denver Post since 2000. Now lets say your electricity usage is more than your panels are able to produce when electric rates are surging with a solar battery, you can choose to use the energy youve stored rather than pull from the grid, protecting you from surge rates and high energy costs, and getting you the best electric rate possible. For residents who oppose having these meters installed, Xcel also offers a meter that requires utility crews to visit a home to measure use over the same 15-minute increments. The average Xcel household uses about 715 kWh a month during the summer, according to a study done for the utility by Navigant. This includes directly interviewing sources and research / analysis of primary source documents. Learn more and view rate cases Rate Books and Cost Fuel Factors The average electric bill for Xcel Energys residential customers will go up $5.24 a month a 6.4% increase starting in April under a $182 million rate hike approved Wednesday by the Colorado Public Utilities Commission. And the sun shines during the day, publicly traded Minnesota-based Xcels regional vice president for community affairs and state relations Hollie Velasquez Horvath said. The panel, he said, was put in to accommodate the electrical vehicle the family is planning to buy. Residential customers would see their bills increase by an average of. Residential Rates | Billing & Payment | Xcel Energy Billing & Payment Residential Rates Find the rate or pricing plan that works for you. The average electric rates in Colorado cost 15 /kilowatt-hour (kWh), so that means that the average electricity customer in Colorado is using 903 kWh of electricity per month, and 10,836 kWh over the course of the year. With this pricing plan you save money based on how much electricity you use and when you use it. But it also reflects a reduction in drilling activity and less domestic production. There are two main options for REP contracts: How do solar batteries help avoid surging electric rates? WattBuy is an energy marketplace that allows you to compare electricity plans from PUC-licensed companies. His coverage areas have included residential real estate, economic development and the Colorado economy. How solar helps you save on electric bills, Frequently asked questions about electricity rates and solar, Calculating your savings from investing in solar, Your savings will vary monthly with community solar. Are energy-efficient appliances worth it. >*. (cents/kWh) 10.90: 17: Sources: U.S. Energy Information Administration, Form EIA-860, . All 1.6 million Xcel Energy customers in Colorado will transition to time-of-use billing, which is intended to encourage people to reduce consumption during certain times of day. This is required for a collective shift off fossil fuel-generated electricity from coal-fired power plants which worsens climate warming that leads to severe weather, fires and flooding in favor of renewable wind and solar energy.