Energy, Utilities & Water  March 3, 2015

Xcel proposes natural-gas rate hikes for next 3 years

Xcel Energy Inc. (NYSE: XEL) has proposed to raise rates by $109.1 million for residential natural-gas customers, resulting in bill increases of about 3.5 percent later this year.

The three-year proposal also would lead to bill increases of less than 3 percent in 2016 and 2017, Xcel said Tuesday. Small-business natural-gas customers would see similar increases.

Xcel said it is seeking approval from the Colorado Public Utilities Commission for a base rate increase of $66.2 million and another $42.9 million for pipeline infrastructure.

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Under the proposal, typical residential customers would see monthly bill increases of less than $2 for each year of the plan, with a cumulative, three-year total of less than $5.

Small-business customers would see a monthly bill increase of less than $7 for each year of the plan, with a cumulative three-year total of less than $18.

The request if approved would allow Xcel to meet to continue to meet its goals of providing safe and reliable service, said David Eves, CEO of Public Service Co. of Colorado, an Xcel company.

Xcel wants to accelerate replacement of older pipes with modern, longer-lasting materials. The company also aims to expand programs to identify and quickly repair leaks and improve its response to emergencies, as well as improve its pipeline system.

Xcel Energy operates more than 2,100 miles of transmission-grade pipeline in Colorado, and more than 21,600 miles of distribution-grade pipeline. It has more than 1.3 million natural gas customers, and operates in 30 Colorado counties.

Xcel expects the new rates to go into effect in October if approved by the utilities commission.

Xcel Energy Inc. (NYSE: XEL) has proposed to raise rates by $109.1 million for residential natural-gas customers, resulting in bill increases of about 3.5 percent later this year.

The three-year proposal also would lead to bill increases of less than 3 percent in 2016 and 2017, Xcel said Tuesday. Small-business natural-gas customers would see similar increases.

Xcel said it is seeking approval from the Colorado Public Utilities Commission for a base rate increase of $66.2 million and another $42.9 million for pipeline infrastructure.

Under the proposal, typical residential customers would see monthly bill increases of less than $2 for each…

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