2023 Colorado Phase II Electric Rate Review

As required by the Colorado Public Utilities Commission, we submitted a proposal in May 2023 to update our pricing plans for Colorado electric customers and align bills with the cost of service. The proposal was a continuation of the electric rate proposal we filed with the Commission in November 2022 — we did not request any additional revenue in this second phase.

The Commission approved several rate changes after reviewing our proposed pricing plan updates. A typical residential electric customer will see a bill increase of approximately $1.75 per month (or 1.9%) starting May 1, 2024. Even with these changes, Xcel Energy–Colorado’s average residential customer bills will remain below the national average.

As part of this rate case, the Commission also approved a re-allocation of wind energy Production Tax Credits that will take effect with the Q3 electric commodity adjustment on July 1, 2024. Including the effects of this re-allocation, the net bill increase associated with this rate case for the typical residential electric customer is approximately $1.03 per month (or 1.1%). However, there may be other bill impacts associated with the Q3 electric commodity adjustment that are unknown at this time. We will provide updates as they become available.

Review the Commission's decision (PDF)

Learn more about this proposal (PDF)

Read our customer notice (PDF)

Aviso al Cliente (PDF)

Our customer commitment

Xcel Energy is committed to helping customers with their bills when they need it. We will always work with our customers to find ways to lower electricity use through energy efficiency options (external link), conservation programs (external link) and rebates (external link). We also provide payment plans (external link) and income-qualified assistance programs (external link) to get them through difficult times.