Xcel Energy proposes rate increase
June 12, 2008
Xcel Energy is requesting a 5.9 percent base rate increase in Texas to offset increasing infrastructure costs.
Xcel filed a proposal of a base rate increase with the Public Utility Commission of Texas and area municipalities served by the company, according to Wes Reeves of Xcel Energy.
He said Xcel also included in the request to implement interim rates when the Hobbs Generating Station comes online.
Customers in Texas will notice a decrease in fuel costs due to the efficiency of the new Hobbs Generation Station, according to Reeves.
“The plant will return more in fuel cost savings than the annual price customers are paying for the power,” according to Reeves.
The PUC review process could take up to six months, according to Reeves.
Xcel is preparing a proposal for New Mexico with an undetermined base rate increase to be submitted in August, Reeves said.