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Xcel Energy Lowers Requested Rate Increase
New Rates Would Raise Home Bills By About $3
POSTED: 1:49 pm MDT April 22, 2009
UPDATED: 5:44 pm MDT April 22, 2009
DENVER -- Xcel Energy has agreed to seek a lower electric rate increase, cutting the costs the utility wants to recover to $112.2 million from $159 million. The revised request announced Wednesday follows negotiations among Xcel, the staff of the Colorado Public Utilities Commission and other parties. Renewable energy advocates and the state Office of Consumer Counsel objected to the original request.
Xcel Energy's new proposal would raise rates for typical residential customers by about $2.94 per month and small businesses by $4.42 per month. Hearings before the Public Utilities Commission will start Friday. A public hearing is scheduled 4 to 6 p.m. Monday.A final decision on the rate is expected this summer with the new rates taking effect on July 1, 2009. The Minneapolis-based utility wants to recover some of its costs for a coal plant, two natural gas plants, power lines and other equipment.
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