Dealing with Rising Electric Rates

The Colorado Public Utilities Commission (PUC) is looking favorably on a $500 million hit to Xcel Energy’s Colorado ratepayers according to a June 2022 article in the Denver Post. Half a billion dollars. It’s to recover losses incurred during a bad patch of weather in February 2021 that caught the company with its lines down.

This will likely show up on 3.7 million electricity customers’ future bills as a “temporary rider” to pay for the costs. Xcel estimates that residential electric customers would see a monthly increase of about $1.40 for 24 months and residential natural gas customers would see an increase of around $5.60 per month for 30 months to pay for the astronomical hike in gas prices during the storm. That’s on top of already skyrocketing prices for natural gas and electricity.

The PUC also approved the first phase of a new electric resource plan by Xcel `that will end the utility’s use of coal to generate electricity in Colorado by the start of 2031. The price tag for that hasn’t been revealed yet, but one way or another, you’ll get to pay for it.

Covering Your Amps

The hot topic lately has been the benefits of driving electric vehicles (EVs). But while that may lower tailpipe emissions, it will add a bundle to electricity costs to charge the vehicles. That, arguably, will be offset by gasoline and diesel fuel savings but you’ll still be paying for a lot more electricity. To get the best savings on powering an EV, Allstar Electrical Services recommends installing a Level 2 charging station at your home or office.

In everyday use, home heating, cooling, and lighting account for about 60% of household energy consumption, with appliances making up most of the rest. And those bills are only going one way—up.

Fortunately, there are plenty of ways to cut those cost down, including new technology for heating and cooling, energy-efficient appliances, and advances in low-cost LED lighting.

Look at our blog for dozens of timely articles on the latest developments in energy-saving products and technology.

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Allstar Electrical Services
 is committed to helping you enjoy your home at the lowest possible energy cost. Our extensive residential services are there to help you reach that goal. Visit our website to learn more. Then email us or give us a call at 303.399.7420 to schedule an appointment.