Xcel Energy Submits Rate Review for 2018

Today (Aug. 21), Xcel Energy submitted a rate review to Texas regulators that seeks an additional $66.4 million to cover costs associated with strengthening the regional power grid and securing ample power supplies for the future.

These improvements will include new power lines, substations, and power plant upgrades that have already been placed into service for customers.

The additional revenue would increase Texas retail customer bills 7.1% overall. Though prices are increasing, Xcel Energy bill are currently 18% less than the United States average, and will remain lower even with the increased rates.

Xcel Energy also stated in their review that in 2019 and 2020, they anticipate constructing two wind farms. These wind farms will have no emissions and use no groundwater. The wind turbine construction costs will be represented in the rate reviews for their respective years and not in the ones for 2018.

Xcel Energy states the new wind farms will deliver an expected $2.8 billion in savings over the next three decades.