Updated: Apr 28, 2020
Xcel Energy has just announced a $158 Million Dollar Electricity Price Increase that will dramatically affect Colorado customers. Homeowners and businesses with Xcel Energy can expect an increase of about 6.5% on their monthly electricity bills. Unfortunately, this comes as no surprise as it was reported in 2017 that electricity rates have increased over 62% since 2001. This rapid rate of cost increase is well above surrounding states, the national average, and the rate of inflation as shown in the graph below.
Between increasing rates and Time of Use Metering, Colorado's largest electric provider is finding ways to charge more for power in homes and businesses. Thankfully, they also offer incentives and net metering programs to help customers lower their electricity costs by utilizing renewable energy. We work with Xcel everyday to make sure our customers receive all qualifying incentives and save the most money on their electricity.
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