May 08, 2026 02:07 PM UTC

Get Bent, Xcel Energy (Again and Again)

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• by: Colorado Pols

Coloradans have no doubt noticed that the cost of electricity has risen substantially in recent years. If Xcel Energy gets its way, rates will have increased by 33% since 2023 alone.

As Judith Kohler reports for The Denver Post:

The Colorado Public Utilities Commission staff and the Colorado Office of the Utility Consumer Advocate have recommended approving only half or less of the increase requested by Xcel. The PUC has scheduled meetings May 19 and June 16 to hear from the public.

Xcel Energy, the state’s largest electricity utility, has said the rate increase is aimed at recovering the costs of investments the company has made since its last rate increase in 2023. The company said the average residential bill would go up by nearly 10% a month.

But the PUC staff said if the full increase is allowed, customers’ bills will have risen by 33.1% in three years. Bills are approximately 23% higher since 2023 and 10% would be added if Xcel’s rate request is approved, O’Neill said.

Xcel Energy isn’t even trying to dispute these figures.

The PUC staff’s analysis of the rate increase is correct if the full request is approved, Xcel spokeswoman Sydney Isenberg said in an email.

“If enacted fully, the 33% increase would be based on 2023 rates and is reflective of the significant investments we’ve made to the electric system over the past three years,” she added.

We’re glad to see the Public Utilities Commission (PUC) voicing their disapproval with Xcel Energy’s request. Xcel consistently requests massive rate increases for electricity and natural gas by claiming that it needs to recoup the costs for infrastructure improvements. What Xcel Energy usually forgets to mention is that the company continues to generate massive profits anyway.

The PUC has been less-inclined to support Xcel’s rate requests in recent years; in 2023, the PUC cut Xcel’s request for a $312 million yearly increase down to $97 million. Last fall, Xcel floated a different proposal for big rate increases so that it could fund the buildout to support big data centers; Xcel eventually abandoned that idea in the face of vocal opposition.

The PUC should tell Xcel Energy to get bent altogether this time around. Average Coloradans shouldn’t have to foot the bill so that Xcel can make $2 billion in profit for its shareholders — particularly when costs for all goods are increasing and gas prices are at a $4.55 per gallon average.

You can voice your opinion on Xcel’s latest rate increase request during PUC hearings on May 19 and June 16.