Xcel Energy Proposes Base Rate Increase for Texas Customers
Xcel Energy has submitted a proposal that would increase the base rate of their customers in Texas that would result in a net revenue increase of $64.75 million per year.
According to the company, the increased revenue will be put back into their infrastructure including transmission lines to better serve their customers in Texas, New Mexico and Oklahoma.
The proposal, which was presented to the Public Utility Commission of Texas, would cause the average residential customer using 1,000 kilowatt-hours per month to pay an average of $9.14 more per month, or roughly 8.2 percent more.
According to Xcel, the company has invested more than $872 million in infrastructure upgrades since 2013 including two 345-kilovolt transmission lines.
Xcel Energy provides services to 80 towns and municipalities in Texas.