Boulder to Xcel: We don’t want your rate-increase settlement

BOULDER — City officials in Boulder this week told Xcel Energy Inc. (Nasdaq: XEL) that they are not interested in a settlement offer from the utility related to a rate increase that Xcel floated to state regulators last year.

In November 2022 Xcel applied to the Colorado Public Utilities Commission for a rate increase that would allow the utility to raise an additional $262.3 million from customers. Residential electricity users would see bills rise by 8.4% under the proposal, while small businesses would pay an additional 7.8%.

“Though the application included items the city strongly supports, such as investment in wildfire mitigation,…