Xcel To Reduce Prices

Xcel Energy is asking the Public Utilities Commission if they can lower prices.

If the request is approved the typical residential monthly bill will be reduced by at least six dollars.

The Energy Information Administration says natural gas prices are down by about 70% in the past year.

Still, Xcel has a rate increase in the hopper for maintenance and operations that includes new transmission construction.

New fuel factors will decrease Xcel’s retail fuel and purchased revenue by $70.4 million.

All amounts collected from affected customers under the revised fuel plan will be subject to a final review in the company’s next fuel reconciliation before the commission.

The revised fuel factors go into effect June 1st unless changed.