Rate Increase Not in Foreseeable Future for Xcel Customers
A release from Xcel Energy today says the power company has withdrawn plans to increase fuel costs in Texas after a stay was placed on the Cross-State Air Pollution Rule by a U.S. Court of Appeals. The EPA sanctioned rule would have required plants nationwide to significantly decrease coal power by the 1st of this month, leaving only a three month window for power plants to comply with the new regulations.
Wes Reeves with Xcel Media Relations said today “Our short-term compliance strategy (and only viable option at that time), was to back off our coal-fueled power plants and depend primarily on natural gas-fueled power plants. This option would have driven up fuel costs in Texas starting this month, and a few months later in New Mexico.”
Residential customers would have seen a 7% increase in their Xcel bills.