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Xcel Energy's natural gas rate hike proposal slashed by regulators, saving customers millions

Xcel had originally proposed to add another $295.6 million over three years to customers’ natural gas bills.

COLORADO, USA — The Colorado Public Utilities Commission slashed Xcel Energy’s latest natural gas rate increase request by 70% Tuesday – from $214.6 million to $64.2 million.

The new base rate will take effect Nov. 1.

The regulatory agency also denied the energy company's request for $81 million for future, unspecified capital expenses.

Xcel had originally proposed to add another $295.6 million over three years to customers’ natural gas bills, including the $81 million in capital expenditure increases. Those sat atop other recent gas and electric rate increases by the company, including at least $2 billion to build up to 650 miles of new high-voltage power lines to serve remote windmills and solar farms, and $500 million in natural gas and electricity costs for the February 2021 winter storm Uri. 

> Read the full story at DenverGazette.com.

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