Settlement reached on Xcel rate hike

By The Associated Press
Wednesday, April 25, 2012

DENVER — A settlement in a dispute over a rate hike will leave Xcel Energy customers in Colorado paying an additional $69 million.

Utility executives told the Colorado Public Utilities Commission on Tuesday that the settlement with state regulators, consumer advocates and businesses requires Xcel to delay its right to pass construction costs on to ratepayers for new gas-fired power plants.

According to the Denver Post, the cost for the new plants will slowly begin to be added to energy bills in three years.