Colorado utilities mount defense after energy bills spike

Two of Colorado’s main utilities defended their income and charges for electrical energy and pure gasoline, at the same time as they acknowledged inflated vitality payments are hurting their prospects.

What they’re saying: “We hear you — we hear your considerations,” Xcel Vitality’s Colorado president Robert Kenney instructed lawmakers at a Tuesday listening to on the Capitol, including that the corporate “empathizes with our prospects.”

State of play: The split-screen message did not sit properly with the Democratic leaders, who convened a particular committee to research rising charges, and pressed utility leaders about bills they cross alongside to prospects.

• Senate President Steve Fenberg, who’s main the inquiry, and different prime lawmakers questioned why Xcel Vitality is reporting report income on the similar time extra persons are looking for help paying their utility payments.

Context: Within the choose committee’s prior assembly, the state’s utility shopper advocate reported receiving 600 complaints about vitality charges since December.

The opposite aspect: Xcel Vitality and Black Hills representatives pointed to colder winters and excessive commodity costs because the drivers of inflated utility payments, not the rise of base charges and charges charged to prospects.

• Kenney mentioned Colorado enjoys a few of the lowest charges within the nation, however later acknowledged the numbers are skewed by the state’s local weather.
• On the similar time, the businesses additionally defended their charge hikes, saying they have been wanted to supply dependable energy.

Of be aware: Republican lawmakers recommended the inquiry is extra politics than coverage and contend new Democratic-authored rules are also driving up vitality prices.

• Nick Wagner, a Black Hills vp, estimated the brand new legal guidelines amounted to about 5-10% of the elevated prices.