Summary
Xcel Energy Inc.'s wholly owned subsidiary, Public Service Company of Colorado (PSCo), has filed a request with the Colorado Public Utilities Commission (CPUC) for a net increase in retail natural gas rates of approximately $107 million. This request, aiming for an effective date of November 1, 2022, is based on a proposed Return on Equity (ROE) of 10.25% and a projected rate base of $3.6 billion for 2022. The filing also includes requests for incremental revenue increases in 2023 and 2024 related to ongoing capital investments.
Key Highlights
- 1PSCo is seeking a $107 million net increase in retail natural gas rates, with a proposed effective date of November 1, 2022.
- 2The rate increase is supported by a requested 10.25% Return on Equity (ROE) and a 2022 projected rate base of $3.6 billion.
- 3The proposed rate change includes the transfer of $108 million from the Pipeline System Integrity Adjustment (PSIA) rider to base rates.
- 4PSCo has also requested step revenue increases of $40 million (2023) and $41 million (2024) for continued capital investments.
- 5Key parties, including the CPUC Staff and the Office of the Utility Consumer Advocate (UCA), have filed testimony proposing significant adjustments to PSCo's request.
- 6CPUC Staff and UCA recommend substantially lower revenue increases than requested, with recommended total proposed revenue changes of $31 million and $12 million, respectively.
- 7The regulatory process includes rebuttal testimony, settlement discussions, evidentiary hearings, and a statement of position throughout August and September 2022.