Xcel Energy to Lower Electricity Rates for Texas Customers on April 1
A typical residential customer using 1,000 kilowatt hours of electricity each month will see a savings of $3.53; that amounts to a 3.7 percent reduction. Xcel also states that when summer rates take effect on June 1, the savings for a typical residential customer will increase to 4.5 percent.
“Our customers are benefitting from the lower cost of natural gas and from significant investments we have made, and are making, throughout our system,” said Riley Hill, president and CEO of Southwestern Public Service Company, an Xcel Energy company.
“These significant up-front investments are critical to hold down costs over time,” Hill said. “Included are environmental controls, efficient power plants, an upgraded distribution system and new high-voltage transmission lines to tap additional supplies of low-cost power outside our area.”
Xcel Energy says about 40 percent of the energy used by their Texas customers comes from natural gas-fuel power plants. Xcel Energy is currently in the process of constructing a fourth power generation unit at their Jones Generating Station in Lubbock.