DENVER, Colorado (March 1, 2018) – Xcel Energy – Colorado customers will see their monthly natural
gas bills decrease by about 2 percent beginning today, the result of an approved settlement reached by the company and the staff of the Colorado Public Utilities Commission (CPUC) to immediately address
the impacts of the federal Tax Cut and Jobs Act. The total annual amount of the reduction will be
approximately $20 million.
Xcel Energy residential customers in Colorado will see a reduction in their natural gas bills of 87 cents per
month, or $10.44 a year, based on typical use of 64 therms per month. Small-business customers in
Colorado will see a monthly decrease of $3.46, or $41.52 a year, based on typical use of 291 therms per
month.
“We sought to deliver customer benefits quickly from the recent tax reductions. This is a positive outcome
for our Xcel Energy customers in Colorado, and we are appreciative of the work of the commission staff and other parties to help identify a path to these tax savings, which results in reduced rates,” said
Executive Vice President, Group President - Utilities David Eves. “This reduction, driven by federal tax
reform, helps with our efforts to provide affordable, low-cost energy.”
Xcel Energy currently has a natural gas regulatory review pending before the CPUC, with evidentiary
hearings completed in December 2017. The ALJ decision on the rate case is pending, and a final
decision incorporating the impact of tax reform is expected no later than the end of 2018. These decisions
may result in additional refunds or rate reductions to customers.
Xcel Energy also has an electric regulatory review pending before the CPUC, which it filed in early
October 2017. The company is working to address the impacts of the federal tax reduction on customer
bills in this regulatory review, and in a statewide proceeding for all investor-owned utilities currently before
the CPUC.
Xcel Energy notes that the reduction in bills today will continue a trend for natural gas customers in
Colorado. Residential natural gas bills for customers on average in the state have since 2013 decreased
17 percent, or by $8.55, while commercial customers have seen a decrease of 12 percent, or $27.63,
during this time period.
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About Xcel Energy
Xcel Energy (NYSE: XEL) provides the energy that powers millions of homes and businesses across
eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader
in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a
variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.