Xcel wants to pass along decrease in wholesale price for natural gas
Residential customers of Xcel Energy will pay on average about $15 less to heat their homes this February than they did in February 2008.
Xcel plans to charge 3 percent less for natural gas next month than it did this month, and home heating bills will be nearly 27 percent lower than they were in February 2008, the company said.
The typical residential bill in January of $109.44 for natural gas should decrease to about $86.21, Xcel said. February 2008 residential bills averaged $101.17.
Typical February bills for small businesses will be $416.30 for natural gas, compared to $480.60 in February a year ago, Xcel said.
The Colorado Public Utilities Commission must approve Xcel’s proposed commodity price. If it does, the new rates will take effect Feb. 1.
Xcel said relatively high natural gas storage levels and further declines in the crude oil market have resulted in a drop in natural gas prices.