Xcel Energy (NASDAQ:XEL) announced that its subsidiary, Public Service Company of Colorado (PSCo), has filed a request with the Colorado Public Utilities Commission seeking a $171 million increase in retail natural gas rates.
This adjustment translates to an approximate 9.5% hike in the average residential customer's bill.
The rate request, based on a 2023 test year, aims for a 10.25% Return on Equity (ROE) and accounts for projected capital additions through the end of 2023.
This request is poised to take effect from November 1, 2024, with a proposed deferred collection start on February 15, 2025, to ease customer bill impacts.
The rate increase is designed to support essential infrastructure investments and maintain the company's commitment to providing reliable service.
The proposal mentions that revenue collection for the deferred period will span over 12 months starting from February 2025, mitigating immediate impacts on customer bills while advancing the company's infrastructure and clean energy goals.