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Xcel’s Proposed Rate Hike Gets ‘Unprecedented’ Complaints

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Xcel's Proposed Rate Hike Gets 'Unprecedented' Complaints

(CTN News) – The Public Utilities Commission questioned Xcel’s proposal for an increase in electric rates at its meeting on Wednesday following “unprecedented” comments opposing it.

According to Xcel, the company is proposing an increase in revenue of $312.2 million, which would result in an increase of 8.2% ($7.33/month) for the average residential customer.

In early February, the commission was scheduled to take up the case again to set procedures to implement the higher rates. However, it had suspended the effective date of the higher rates.

It is because of this that Commissioner John Gavan has called on the commission to “scrutinize this to a degree we have never done before,” especially in light of a recent hike in gas rates and a separate request to be refunded coal supply costs to consumers.

Gavan noted that there is a need for Xcel to take a step back and focus on customer satisfaction rather than nickel and diming us with all of these onerous rate increases that are just piling up and not getting better,” she said.

On the issue of the coal supply issues, the commission will require Xcel to separate the issue from the other issues. This will ensure that customers will not be required to pay the associated costs as of January 1st.

According to consumer advocates, these rate hikes have disproportionately negative impacts on communities that are struggling to make ends meet.

“There are a lot of people who live in buildings whose owners are not the people who live there.

In order to save money, owners purchase the cheapest appliances they can find. It has been reported that most Latinos don’t weatherize their houses.

This is because they are not dealing with the cost increases of heating and cooling and powering their homes, according to Ean Thomas Tafoya, the director of Green Latinos.

In an attempt to protest the electric rate increase, the Colorado Office of the Utility Consumer Advocate has pointed to Xcel’s growing profits.

These profits reached $555 million during the first nine months of this year.

As the Director of the Colorado Office of the Utility Consumer Advocate, Cindy Schonhaut, said, “They are making extraordinarily high profits, and they do not understand how they need to tighten their belts when they are making such high profits,” she said. “Consumers are outraged.

They should be outraged.” “Consumers are outraged.”

However, Robert Kenney, Xcel Energy’s president, said the company offers financial assistance to customers who have a hard time paying their bills.

The proposed increases will help pay for investments in clean energy and cutting-edge technology that will benefit customers.

Our system requires a certain amount of money to maintain its safety and reliability. Kenney also said we must drive the states towards achieving our common clean energy goals.

Having a financially healthy company is beneficial to not only to us but it’s also beneficial to our customers because a financially healthy company can borrow money at a much better rate and issue equity at a much lower rate for the projects that we are investing in.”

How does Xcel produce energy?

Xcel Energy produces power at our power stations, using a diverse mix of fuels that includes biomass, coal, nuclear, and natural gas, to produce electricity by creating steam to turn a turbine. We also harvest clean energy directly from water, the sun, or wind.

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Salman Ahmad is a seasoned writer for CTN News, bringing a wealth of experience and expertise to the platform. With a knack for concise yet impactful storytelling, he crafts articles that captivate readers and provide valuable insights. Ahmad's writing style strikes a balance between casual and professional, making complex topics accessible without compromising depth.

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