New Xcel Energy rates effective as of October 1

Denver 7 | by Colette Bordelon

Some customers concerned about increase combined with Time of Use rates

As of October 1, Xcel Energy customers likely noticed a new increase on their bill.

Xcel Energy said the increase is because of the rising price of natural gas. The Colorado Public Utilities Commission approved the new rates, which went into effect October 1. Residential electric customers are expected to see a $3.16 increase per month, and small businesses that are electric customers should pay $4.95 more on a typical monthly bill.

In a statement, Xcel Energy said they “understand customers may face financial challenges. Our goal is to always support our customers and we encourage our customers in need to call us and discuss options for payment plans and energy assistance programs that can help take care of their bills.

“There are households where they can't afford the bill to start with. And then you put a rate increase, and we're coming into winter months where we know that bills go higher. What we're asking people to do is just be very, very aware of their energy use."

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