Xcel Energy customers see decrease in natural gas fuel, electric costs

PUEBLO, Colo. (KRDO) -- Xcel Energy customers will soon see a decrease in their electric bills in the first quarter of 2022. That's according to new information submitted to the Colorado Public Utilities Commission (CPUC.)

In an average household, that translates to about 42 cents per month and 66 cents for commercial customers. Natural gas will go down as well, with an average decrease of 4.16 percent or $4.26 for homes and 4.5 percent or $18.73 for businesses.

In a statement, Xcel Energy told KRDO:

Wholesale natural gas prices are high when compared to this time last year, but they are slightly lower heading into the first quarter of 2022 compared to fourth quarter 2021.

For Colorado Springs Utilities customers, however, their bills are going in the opposite direction.

This past fall, CSU was approved for a pair of temporary significant rate hikes. One raised the average household bill by about 11 percent and a whopping 22 percent for commercial customers.

CSU tells KRDO the reason behind the increase in natural gas prices was two-fold; rising prices in the natural gas markets, and higher anticipated consumer consumption as the winter months approach.

As for XCEL - customers can see expect to see those new rates on January 1, 2022, pending final approval from the CPUC.