Xcel Energy seeks permission to increase rates through Colorado public utility commission

Xcel Energy, one of Colorado's major energy providers for millions of homes and businesses, is seeking permission to increase the price of their services. The company is required to get approval from the public utility commission to increase rates, a process they have started.

The PUC held a public hearing on Tuesday to field feedback from the public about whether or not the increase should be approved. Several entities, including one state agency, vocalized their support of Xcel's request to increase rates. However, many others from the public vocalized concerns with the proposal.  

Xcel initially requested to increase rates by $312 million. That number was then adjusted to just under $50 million. According to AARP Colorado, an organization opposing the rate increase, this would result in the average consumer paying an additional $1.54 to $2.90 per month.

"It's a dollar a month on top of the dollar that came the last time, on top of the dollars that came the previous time. It's the additive effect," said Carolyn Elam, sustainability manager for the city of Boulder.

Boulder is one of several entities publicly taking a stand against the proposal. Elam agreed with AARP Colorado, saying the increased rates are most heavily impacting low-income Coloradans. Both said the increase may seem low right now, but it is a lot when added with previous and recent increases.

"It's a significant issue to us as a municipality," Elam said.

"When does it stop? People have already seen their utility bills basically double," said Angela Cortez, spokesperson for AARP Colorado. "It's called pancaking and you're putting one rate hike on top of another rate hike on top of another rate hike." 

CBS News Colorado reached out to Xcel Energy by phone and email on Tuesday seeking interview on this report. A spokesperson for the company responded saying they were trying to facilitate the request. However, at the time of this report's publication, that had not yet happened. The report will be updated if and when an interview or statement is made available.  

While the public was welcomed to speak out on their support or concerns with the proposal during the PUC meeting on Tuesday, feedback is still being welcomed through the decision date planned for September.  

Elam said the city of Boulder could support increases to rates that helped build infrastructure, supported clean energy and reduced on wildfire risks. However, she said the city felt the proposal this time largely resulted in the company increasing profits at the expense of consumers.