Colorado’s largest utility says the increase is necessary to pay for improvements to ensure the safety and reliability of its extensive natural gas network.
Buying an electric vehicle could soon be even cheaper for millions of Coloradans.
The state already offers generous programs and tax benefits to offset the cost of a new plug-in vehicle as a part of e.
Electric rates will go up for Xcel Energy customers starting Sept. 1 following state regulators' approval of a roughly $97 million increase in revenue for the utility. The new rates will increase the average residential bill by about $4 a month and the $5.58 a month for small businesses.
The Colorado Public Utilities Commission on Wednesday approved anagreement among the various parties, including cities and consumers' groups, that slashed Xcel's request for a $312 million increase.