Xcel Energy Files for Electric Rate Increase with Texas Public Utility Commission
Xcel Energy today filed an application with the Public Utility Commission of Texas for a base rate increase for retail electric customers. The filing does not affect customers of rural co-ops.
If the rate hike is approved, an average residential customer using 1,000 kilowatt hours per month would see their bill increase by $10.94, or about 10.5 percent. If the increase is approved, Xcel would stagger the increase in two steps. Half would go into effect on March 1 with the last half taking effect in July.
The increase in net revenue would help Xcel recoup $386 million in infrastructure costs spent over the past year and a half. Finally, if the increase is approved the transmission cost recovery charge would be removed from customers’ bills.