DOW JONES NEWSWIRES Xcel Energy Inc. (XEL) proposed a $174.7 million electricity rate increase for Colorado, citing power-generation expansion, continued emission reductions and improved system reliability.
The filing with the Colorado Public Utilities Commission would increase monthly electricity bills for typical residential customers 8.4% to $66.31 based on use of 625 kilowatt-hours. Small-business customers would see an 8% increase to $105.83, based on use of 1,025 kilowatt-hours.
If approved, the increase would be effective next summer.
"Xcel Energy has made significant investments in recent years in our generation, transmission and distribution systems," said Tim Taylor, chief executive of Public Service Co. of Colorado, a unit of Xcel.
The utility company filed for its last electric rate increase in April 2006, resulting in a 7.7% rate rise for typical residential and small-business customers. Prior to that, the company had not filed for a rate increase since 2001.
Taylor said the company has invested or will invest nearly $1.7 billion in new electricity infrastructure since the last rate increase through 2009. Among the projects are a 750-megawatt expansion of the Comanche Generating Station in Pueblo and two new natural gas-fired generating units at the Fort St. Vrain Generating Station in Platteville.
Xcel's shares closed Friday at $17.98, down 1.6%, and were unchanged in after-hours trading.
-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; Kathy.Shwiff@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=Zl42RD3mDSA12KI2spLZ%2Bg%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
November 14, 2008 17:08 ET (22:08 GMT)

Publié le 14 novembre 2008 Copyright © 2008 Dowjones