Xcel Energy: Colorado customers will see lower natural gas bills in February, March

After a rate hike at the end of last year, Xcel Energy said that customers in Colorado will see lower natural gas bills from Feb. 1 to March 31. This is because of a recent decrease in wholesale natural gas prices. 

The utility company said that residential natural gas customers will pay an average of $17.79 less in February than they would under the company's currently effective natural gas costs that went into effect in January. Small business customers will pay an average of $83.14 less in February. 

According to Xcel, "Customers pay the actual commodity cost of natural gas through their bills-Xcel Energy passes those costs along to customers without markup. Other than interim adjustments, commodity adjustments are submitted to the Commission every three months; the adjustment for the second quarter of 2023 will be filed mid-March."

Xcel said that even with the drop in natural gas prices, the cost of natural gas remains higher than it has been in recent years and encourages customers to take advantage of the range of energy efficiency programs and savings tips the company offers. 

Customers are also encouraged to contact Xcel Energy if they're having trouble paying their bill. The company can provide customers with options such as payment plans, energy assistance programs or an Averaged Monthly Payment. Customers can learn more about Xcel Energy's energy assistance programs at xcelenergy.com/EnergyAssistance or call 1-800-895-4999.