Xcel Energy Inc (XEL) has released an update.
On January 29, 2024, the Public Service Company of Colorado, an Xcel Energy Inc. subsidiary, filed for a $171 million, or 9.5%, increase in retail natural gas rates with the Colorado Public Utilities Commission. The rate hike is based on a 2023 test year and includes a 10.25% return on equity and capital projections through the end of that year. Although the proposed increase is set to be effective from November 1, 2024, the actual collection would be deferred to February 15, 2025, to ease customer impact, with the deferred revenue spread over the following 12 months. This rate increase is aimed at supporting infrastructure investments and the company’s commitment to the clean energy transition.
For further insights into XEL stock, check out TipRanks’ Stock Analysis page.
