Xcel Energy will hike its gas rate for a third time this year in Colorado

Consumer gas bills will go up 2.9% in November under an Xcel rate increase pared back by Colorado regulators

Mark Jaffe
Colorado Sun
Xcel Energy’s lower downtown location on Feb. 15, 2022, in Denver.
Olivia Sun, The Colorado Sun via Report for America

Adding utility rate increases one on top of another is called “pancaking” and Wednesday Colorado regulators tossed another flapjack on the stack, granting Xcel Energy a $64.2 million increase in gas rates.

The increase in the basic rate follows increases in gas rates for rising fuel prices this year and to cover $500 million in costs due to a winter cold snap in 2021 that sent fuel prices soaring.

The rate hike granted by the Colorado Public Utilities Commission will increase the average residential bill each month by $2.90, about 2.9%, and the average small business customer’s monthly bill by $12.95 or 3.1%.

The increase will go into effect in November.


Support Local Journalism

Support Local Journalism

Readers around Steamboat and Routt County make the Steamboat Pilot & Today’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.