April 11, 2018
Xcel Energy says it’s getting cheaper prices for the natural gas it buys to generate electricity, so customers are going to see lower electric bills if the Public Utility Commission agrees.
“Natural gas prices have fallen 47 percent over the past year, which is the main factor in bringing down our overall fuel costs,” Xcel Texas president David Hudson said.
Residential customers using 1,000 kWh each month could see their average monthly bills drop about 6.3% starting May 1st, Xcel said in a statement.
The PUC must first okay an adjustment to Xcel’s fuel factors
Hudson also said the company is hoping to adjust prices downward as sustainable energy projects come online in the future.
The company is also looking for PUC approval of large wind farms near Plainview, Texas, and Portales, N.M.
“If our wind expansion plan is approved, customers can expect further fuel cost decreases in 2019 and 2020 when these new wind facilities come on line,” he added.