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Xcel: Natural Gas Rates To Drop 31 Percent
Warm Weather Could Help Reduce Usage, Bills
POSTED: 5:11 pm MDT March 18, 2009
UPDATED: 5:14 pm MDT March 18, 2009
DENVER -- Colorado's largest utility says the price it charges for natural gas will fall by 31 percent next month compared to the current month. Xcel Energy Inc. said Wednesday it submitted the proposed rate cut to state regulators at the Colorado Public Utilities Commission. Xcel said the lower gas price combined with warmer weather could bring a 41 to 45 percent decline in residential and small-business gas bills in April compared with March.
The company said gas prices are falling because the recession has reduced demand and because so much gas is now in storage waiting to be used. Xcel is based in Minneapolis.
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