Xcel seeks rate hikes, bidders on power-generation projects

DENVER — Xcel Energy Inc. (NYSE: XEL) this week applied to the Colorado Public Utilities Commission for a $312 million electricity rate increase that it hopes to use to offset the cost of building more capacity to generate cleaner power. 

At the same time the utility is seeking rate hikes — which would represent about an 8% increase for residential and commercial users, and could show up on bills by next fall if approved — Xcel is seeking responses to requests for proposals from builders of solar, energy storage, wind and natural gas-fired generation projects. 

“This is a major…