Colorado

Sep 16, 2010 9:16 AM by Bea Karnes, News First 5

Xcel Energy plans electric, gas rate decreases

Xcel Energy says Colorado customers will see lower electric bills starting Oct. 1 because of lower fuel costs and the end of a summertime two-tiered rate plan aimed at encouraging conservation by charging more for higher use.

The utility said Wednesday that typical residential bills will drop by 12.6 percent. Small-business customers not subject to the two-tiered rates are expected to see a 5.1 percent decrease due to lower fuel and energy costs.

State regulators must approve the adjustment in the commodity price. The Minneapolis-based utility says its residential and business customers will see a 6 percent reduction from last year in natural gas prices starting the first of October.

Regulators must also approve that change.

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