Xcel Energy Texas customers to see lower bills April 1 - KCBD NewsChannel 11 Lubbock

Xcel Energy Texas customers to see lower bills April 1

Provided by Xcel Energy

AMARILLO, Texas – Xcel Energy has gained approval from the Public Utility Commission of Texas (PUCT) to lower typical Texas residential bills of 1,000 kilowatt-hours by $3.53, or 3.7 percent, starting April 1.

The savings will be even more when summer rates take effect June 1. A typical residential bill of 1,000 kilowatt-hours will drop by $4.81 or 4.5 percent.

Xcel Energy originally sought a winter savings of $1.78 when the company filed for a new fuel-cost factor in January, but natural gas prices continued to fall, leading the company to revise its projected fuel costs downward.

The lower bills, even in the face of rising demand, are a result of cost decreases in natural gas used to fuel area power plants. Additionally, increasing demand for electricity is being partially offset by the efficiency of some natural gas generators.

"Our customers are benefiting from the lower cost of natural gas and from significant investments we have made, and are making, throughout our system," said Riley Hill, president and CEO of Southwestern Public Service Company, an Xcel Energy company.

"These significant up-front investments are critical to hold down costs over time," Hill said. "Included are environmental controls, efficient power plants, an upgraded distribution system and new high-voltage transmission lines to tap additional supplies of low-cost power outside our area."

About 40 percent of the energy used by Xcel Energy customers in Texas is derived from natural gas-fueled power plants. In 2008, Xcel Energy began purchasing power from the Hobbs Generating Station near Hobbs, N.M., a plant that is 40 percent more efficient than older natural gas-fueled plants. Additionally, the company opened a new, efficient natural gas-fueled generating unit at its Jones Generating Station near Lubbock last year. A fourth unit is planned at Jones for 2013.

  • Local News on KCBD.comNewsMore>>

  • Cohen partner pleads guilty in deal requiring cooperation

    Cohen partner pleads guilty in deal requiring cooperation

    Tuesday, May 22 2018 6:12 PM EDT2018-05-22 22:12:57 GMT
    Tuesday, May 22 2018 7:43 PM EDT2018-05-22 23:43:21 GMT
    A longtime business partner of President Donald Trump's personal lawyer, Michael Cohen, has pleaded guilty to tax fraud in a deal that requires him to cooperate in any ongoing investigations. (Source: CNN)A longtime business partner of President Donald Trump's personal lawyer, Michael Cohen, has pleaded guilty to tax fraud in a deal that requires him to cooperate in any ongoing investigations. (Source: CNN)

    A longtime business partner of President Donald Trump's personal lawyer, Michael Cohen, has pleaded guilty to tax fraud in a deal that requires him to cooperate in any ongoing investigations.

    A longtime business partner of President Donald Trump's personal lawyer, Michael Cohen, has pleaded guilty to tax fraud in a deal that requires him to cooperate in any ongoing investigations.

  • Congress moves to dismantle key post-crisis bank rules

    Congress moves to dismantle key post-crisis bank rules

    Tuesday, May 22 2018 12:33 PM EDT2018-05-22 16:33:04 GMT
    Tuesday, May 22 2018 7:43 PM EDT2018-05-22 23:43:30 GMT
    Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis. (Source: CNN)Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis. (Source: CNN)
    Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis. (Source: CNN)Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis. (Source: CNN)

    Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis that brought millions of lost jobs and foreclosed homes. The House was to approve...

    Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis that brought millions of lost jobs and foreclosed homes. The House was to approve legislation to roll back the Dodd-Frank law.

  • The princes, the president and the fortune seekers

    The princes, the president and the fortune seekers

    Tuesday, May 22 2018 12:13 AM EDT2018-05-22 04:13:57 GMT
    Tuesday, May 22 2018 7:34 PM EDT2018-05-22 23:34:31 GMT
    (AP Photo/Evan Vucci, File). FILE - In this May 20, 2017, file photo, President Donald Trump shakes hands with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman in Riyadh. In emails obtained by The Associated Press, George Nader claims...(AP Photo/Evan Vucci, File). FILE - In this May 20, 2017, file photo, President Donald Trump shakes hands with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman in Riyadh. In emails obtained by The Associated Press, George Nader claims...

    A top Trump fundraiser and a senior adviser to a UAE crown prince ran a secretive campaign, trading lobbying against Qatar for defense contracts from Gulf countries.

    A top Trump fundraiser and a senior adviser to a UAE crown prince ran a secretive campaign, trading lobbying against Qatar for defense contracts from Gulf countries.

Powered by Frankly