XCEL wins a second rate hike, bringing the annual increase to 10.25% - this is faster than the national average. What does this mean for you? The promise of ever increasing energy costs:
The increase will raise residential bills by about 6.5 percent, or $4.43 a month, and commercial bills by about 5.7 percent, or $6.72 a month. The new rates will go into effect Jan. 1, unless they are challenged.
The rate increase is the second this year for Xcel. In May, the utility was granted a $112.2 million increase, which took effect in July. It increased average residential bills by $2.94 a month. Typical small-business bills went up by $4.42 a month.
By investing in solar now, you can lock in your energy rates by not relying completely on gas and electric rates, which will continue to increase. Take advantage of the available tax credits, loan rates and rebates to increase your savings. Give us a call today at 303-589-4428 and we'll come out and evaluate your property for solar and let you know what you could be saving.