cbs4

Local

Colorado Denies Xcel Request For Interim Rate Hike

View Comments
(credit: CBS)

(credit: CBS)

DENVER (AP) — Colorado regulators have denied Xcel Energy Inc.’s request for a $100 million interim electricity-rate hike while regulators review its request for a $141.9 million increase, which would raise the average residential monthly electric bill by about 6 percent.

Xcel in November requested a $141.9 million increase, starting Dec. 23. But since it could be summer before there’s a decision on the request, Xcel asked for the interim hike. The Public Utilities Commission rejected the request Wednesday, saying the company failed to show it would be adversely impacted by maintaining current rates while the commission reviews the $141.9 million request.

Xcel spokesman Mark Stutz says Xcel officials are disappointed because they feel “regulatory lag” is a growing concern, but they’re looking forward to deliberations on the full request.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,374 other followers