Xcel customers face $66 million hike in gas bills this winter
Xcel Energy customers face a $66 million increase in heating bills this winter under a proposal the company submitted to Colorado's state regulators.
The energy company also seeks an expedited approval from the Public Utilities Commission.
If adopted — energy regulators have routinely approved such quarterly adjustments — the new rates would take effect starting in October.
The additional revenue does not necessarily translate to profits for the company’s shareholders, according to the company.
“Those fuel costs, including the cost of wholesale natural gas, are passed directly to customers without markup,” Xcel said in a news release. “Xcel Energy uses every option available to get the best prices for its customers by buying and storing energy when it is less expensive.”