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. From fourth quarter 2020 to first quarter 2021 the cost of natural gas is lower. This change is due to increases in natural gas commodity prices as well as increases in contracted purchased electricity costs. Typical residential electric bills for Xcel customers in Colorado are expected to increase $1.91 a month, up 2 . Over the next 25 years, you should expect to pay $47,600 on electric bills in Colorado. You have been selected to participate in a brief survey to help us improve our site. Drop us a note at tips@coloradosun.com. Both coal-burning stations are to be shut down by 2028. 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. There will be more Xcel Energy electricity rate cases to come, said Ron Davis, the commissions chief adviser. 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. This generated electricity will then show up as credits on your electric bill, lowering your overall cost. The new meters read household energy use in real-time, designed to give customers more accurate reads. Another price bump is expected in January. Short, timely articles with graphics on energy, facts, issues, and trends. If youre a renter or are unable to install solar on your property, you can save 5-15% on your electric bill by subscribing to a community solar farm. Hours of operation are 8:00 a.m. to 5:00 p.m. Utilities expenses and investments are recovered through rate cases. Heres why your Xcel Energy bill is so high right now and what you can do about it, Indie 102.3s March Local 303 Meetup feat: Deva Yoder, News That Matters, Delivered To Your Inbox. ABOUT US. Xcel has also relied more on more natural gas this year, and the Colorado Public Utilities Commission has approved company proposals to recoup costs from purchasing more of the fossil fuel. A Berkeley National Laboratory study, for example, estimated that if Californians shift 20% of their demand out of the peak period to the early afternoon, when there is ample solar generation, they could save $700 million a year by 2025. Time-of-use rates have already been implemented or are in pilot programs at utilities from Virginia to California. - Values for 2021 are final. Rates published Q1 2023. 0 The price in August was nearly double what it was during the same month in 2021, according to data from the U.S. Energy Information Administration. 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 detect pipeline leaks. 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. The interconnection process for connecting a solar panel system is usually left to the solar installer who will submit the interconnection application on the customer's behalf. Even if onsite solar doesnt make sense for you, you can still participate in the clean energy transition and save on your electric bills by subscribing to a community solar farm. Get Started Electric Vehicle Drivers Save while you charge. If you install a solar system, on average, youll break even on your solar investment in 12.13 years in CO, at which point you may not owe anything on your electric bills. Access all sections of the Electric Rate Book and the Gas Rate Book for the state of Michigan, and find additional brochures and resources. Greenhouse gas data, voluntary reporting, electric power plant emissions. You want to know what is really going on these days, especially in Colorado. 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. In most cases, your monthly payment towards your. %PDF-1.4 % 0000005336 00000 n How much can you save on electric bills with solar in Colorado? It will give more transparency, more control.. All rights reserved. Rates for the average small commercial customer will also rise 6.2% or about $6.62 a month. Xcel Energy's coal fueled generating plants produced about 1.2 million tons of coal ash in 2021. Net metering caps are set at the state level. Denver Post staff writer Bruce Finley covers an array of topics, including higher education. 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. Electric rate plans include a quarterly Electric Commodity Adjustment, which recovers the cost of fuel and purchased energy used to supply electric service. 0000045968 00000 n Calculating your savings from investing in solar As a result, there are two ways to reduce your bills: by either Xcel Energy's program is comparable to other utilities and for customers in New Mexico choosing a company comes down to location. The company, the states largest utility with more than 3 million electricity and natural gas customers, has also filed an overall natural gas rate case, seeking an $8.14 increase in the average bill over three years. Xcel changes electricity prices for 310,000, 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 , Xcel changes electricity prices for 310,000 Colorado residents, urging off-peak nighttime use, Colorado city gives big incentive offer in hopes of luring states biggest EV battery plant, Opinion: Xcel bills have never been higher but we are here to help, | Higher education and general enterprise reporter, Vehicle owners can register for car theft deterrent program DenverTrack, Data breach of DPS computer servers affects all district employees, officials say, Colorado psychologists gain authority to prescribe mental health medication, After School Satan Club launching first Colorado chapter, but organizer promises we are not devil worshippers, 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, Bake major meals in ovens during the weekend, then during the week reheat food or make quick meals. By selecting YES, an additional window will open to allow you to take the survey at the conclusion of your visit. Lesson plans, science fair experiments, field trips, teacher guide, and career corner. If you live in one of the states listed below, you could save up to 40% on your electric bills by, Learn more about how our Marketplace works and how we make money. It is important for us to consider all the options, Gilman said. Customers experiencing difficulty paying their energy bill are encouraged to reach out to Xcel Energy for resources and to help set up a payment plan. Energy use in homes, commercial buildings, manufacturing, and transportation. Solar panel systems help you save money by reducing your monthly electric bills. For most homeowners, this means that their solar panel systems are Level 1 and generate 10 kilowatts (kW) or less. The total output of the system must not be greater than 120% of the energy used by the customer. These credits never expire but cannot be cashed out or given as credit if the service is stopped. Production, storage and disposal. The savings from offsetting 100% of an electric bill with solar can add up fast! 0000033274 00000 n Xcel teams have focused on major appliances that use the most electricity during the 3 p.m. to 7 p.m. peak hours. 2021 Summary statistics (Colorado) Item Value Rank; Primary energy source . Home Billing & Payment Residential Rates Check Out Your Options Residential Plan The standard residential pricing plan. 0000046335 00000 n Other electric utilities in the state include Alliant Energy which offers a similar net metering program but does not have a community solar program. 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. Revenue exceeded analyst estimates by 5.8%. Notes: - See Glossary for definitions. That adds up to $1,584 per year. Customers also have the ability to opt-out of the time-of-use rates. Based on the intensity and amount of sunlight hours in Colorado, the average electricity customer in Colorado will need a 9.0 kilowatt (kW) solar panel system to offset 100% of their annual electricity consumption of 10,836 kWh per year. Customers with smart meters will be able to manage bills and reduce emissions by shifting summer electric use away from peak hours. Opting out of time-of-use pricing is possible. Hes also a lawyer interested in migration and enjoys exploring our planet. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Click to email a link to a friend (Opens in new window), The first of Xcels smart meters is seen installed on Wednesday, June 30 at a residence in Littleton. Yes! The time-of-use rates are designed to be revenue neutral, so that Xcel does not receive more revenue than it gets now for selling kilowatt-hours at a flat rate.