Xcel Energy proposes $66.5M credit to electric customers

DENVER – Xcel Energy (NYSE: XEL) on Thursday announced that it has proposed a $66.5 million credit to Colorado electric customers in accordance with its multi-year rate plan approved by the state’s Public Utilities Commission in 2012.

The credit, the company said, is a result of Xcel’s ability to control costs. As part of the rate plan that covered 2012 through 2014, such credits are triggered if certain financial targets are exceeded.

If approved by the PUC, the credit becomes effective for a one-year period beginning Aug. 1. The company said customers would see an approximate 2.5 percent reduction on their bills, or about $1.94 per month for the typical residential customer and $3.18 per month for the typical small business.

The new credit would replace a $45.7 million credit that resulted from the prior year.

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