February 08, 2023 01:08 PM UTC

Hickenlooper Joins Call for Investigation Over Rising Utility Rates

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• by: Colorado Pols

As Colorado Public Radio reported last week, Xcel Energy says it has a “plan” to reduce utility costs now that enough consumers have complained about rising rates. That “plan” is essentially just to pass along savings from lower natural gas prices, which is something that you would hope a utility provider would be doing anyway.

Xcel and other utility companies have caused enough pain across the country that Democratic Senators — including Colorado Sen. John Hickenlooper (D-Denver) — are demanding more accountability for utilities charging astronomical rates to consumers. According to a press release from Hickenlooper’s office:

This week, U.S. Senators John Hickenlooper, Sheldon Whitehouse, Chris Van Hollen, and Elizabeth Warren sent a letter to Federal Trade Commission (FTC) Chair Lina Khan requesting the agency investigate the investor-owned utility industry’s abusive practices that drive up costs, hurt consumers, and damage the public trust.

In the letter, the Senators highlight how the changing energy landscape can threaten existing electricity industry profit models, and implore the FTC to look into potentially harmful and deceptive actions taken by utility companies that prioritize profit. [Pols emphasis]

“Some utilities have responded by engaging in questionable practices to subvert these trends in the interest of protecting their profits over the pockets of their customers, harming poor communities and communities of color in particular,” wrote the Senators. “We believe these disturbing anti-competitive and anti-democratic incidents merit an FTC investigation.”

The Senators’ letter supports a May 2022 petition submitted by more than 230 organizations and advocates, including Environment Colorado, Environment Colorado Research & Policy Center, the Center for Asian Studies (CASE) at the University of Colorado, and Living Rivers & Colorado Riverkeeper.

Click here to read the full letter from the Senators. Colorado has two investor-owned utilities that would be affected by an FTC investigation: Xcel Energy and Black Hills Energy.