Colorado PUC lets Xcel rider changes take effect July 1, lowering some charges and raising others
Colorado regulators allowed several Public Service Company of Colorado rider updates to take effect by operation of law July 1, cutting demand-side management charges but increasing gas, steam and wildfire mitigation charges.
The Colorado Public Utilities Commission on Wednesday allowed several Public Service Company of Colorado rider updates to take effect July 1 by operation of law, lowering some demand-side management charges while raising gas, steam and wildfire-related charges.
At the commission's June 24 weekly meeting, staff said Public Service's gas demand-side management cost adjustment filing in proceeding 26AL-0134G would recover about $61.8 million annually but still reduce overall annual revenues by about $18.6 million from current rates because of a clean heat true-up credit and no performance bonus. Staff said that would cut a typical residential bill by about 95 cents a month, or 3.05%. Commissioners allowed the filing to take effect July 1 without separate action.
Staff said the company's electric demand-side management cost adjustment filing in proceeding 26AL-0135E would reduce annual revenues by about $6.9 million and lower a typical residential bill by about 24 cents a month. That filing also takes effect July 1 without a separate vote.
Other rider changes will increase bills. Staff told commissioners Public Service's gas cost adjustment would increase the quarterly gas rate by about 18.9%, raising a typical residential bill by about $4.90 a month. The company's steam cost adjustment would rise about 29.3%, increasing a typical customer bill by about $179.86 a month. Commissioners also let those changes take effect July 1.
On the company's wildfire mitigation adjustment rider, staff said the filing would collect about $80.1 million for July through December 2026 and raise annualized rider revenues to about $153.9 million. Staff also said the company had identified a formula error involving interest on the tax-adjusted weighted average cost of capital that would have increased the revenue requirement by $11,310, but Public Service chose not to seek recovery of that amount rather than refile the rate materials.
Commissioners did not take separate recorded action on the $11,310 issue. Instead, staff recommended letting the amended wildfire filing take effect July 1 by operation of law, and commissioners agreed.
The changes mean lower efficiency-related charges for some gas and electric customers, offset by higher fuel, steam and wildfire mitigation charges.