AMARILLO -- Xcel Energy is seeking a base rate increase for Texas retail customers to support investments that improve electric reliability and capacity while providing area communities an economic boost from dozens of regional construction projects.
"Between July 2012 and June 2013, Xcel Energy has invested more than $386 million on new and upgraded power lines, substations and generating units in and around communities across the region in response to continued growth in electricity demand," said David Hudson, president and CEO of Southwestern Public Service Company, an Xcel Energy company.
A proposal presented today to the 80 Texas towns and cities served by the company, and to the Public Utility Commission of Texas (PUCT), seeks to increase
revenue by a net of $52.7 million per year. Impacts on each customer class vary, but for residential customers using 1,000 kilowatt-hours per month, the increase would average $10.94 per month, or 10.5 percent, with fuel costs factored in.
For all customer classes combined, the total increase is 5.8 percent accounting for base rates and fuel costs.