Normally we could tell you that your electric rates are either going up or down, but this time it's a little different.
Xcel Energy must, by law, lower the fuel cost portion of your bill by nearly 9 percent, because the price of natural gas is also going down. Great news, right?
But at the same time, the company did not collect enough fuel costs over the summer. So, regulators gave the company special permission to raise the fuel cost by more than 6 percent to get that money back.
The bottom line is you should see the fuel cost portion of your Xcel Electric rates go down by roughly 2.7%.
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