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Business Xcel Energy proposes nearly 7 percent rate hike

Xcel Energy proposes nearly 7 percent rate hike

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

 

AMARILLO, Texas (AP) — Xcel Energy has proposed a nearly 7 percent rate hike for its retail customers across Texas.

The utility on Monday filed for the increase with the Public Utility Commission of Texas in Austin. Details were also provided to the 80 Texas towns and cities served by Xcel Energy.

 

A utility statement says the proposed base rate hike for 2015 is meant to support grid improvements. Officials say since mid-2013 the company has invested almost $872 million in new and upgraded power lines, substations and generating units.

 

The proposed rate increase, for residential customers using 1,000 kilowatt-hours per month, would average $9.14 per month. For all customer classes combined, the total increase is 6.7 percent accounting for base rates and fuel costs.

 

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