![]() ![]() ![]() During the past decade, Xcel’s profits have nearly doubled. Xcel Energy reported a net income, or profit, of $1.74 billion in 2022,which was an 8.7% increase over the previous year. Xcel customers started seeing higher rates around November 2022 at the same time the utility was seeing massive profits. The adjustment will impact residential and small commercial natural gas customers. The Colorado Public Utilities Commission, or PUC, approved on Monday a request from Xcel Energy for a reduction in the gas cost adjustment which it says will lower bills for gas customers by around 15 percent, according to a release. Relief couldn’t come soon enough for customers who have reported bills that have doubled or even tripled this winter. DENVER - A potential step to reign in some skyrocketing utility bills could soon result in Xcel Energy natural gas customers seeing around a 15 percent reduction in their monthly bill. ![]()
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