Most Colorado Residents Could See a Lower Utility Bill in 2024

We have some good news for you if you have been keeping your house a little bit cooler over the past few months due to utility costs. According to KDVR, Colorado Xcel Energy users should expect lower heating bills in the first quarter of 2024.

On average, Xcel residential customers say a bill of approximately $139.13 in the first quarter of 2022. Soon, those bills could be approximately $100 with a year-over-year decrease of 28 percent. KDVR states that the decrease in price from Xcel Energy is due to the wholesale cost of natural gas has dropped in price.

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Xcel Energy users should see a decrease of approximately $4.87 per month, or 4.64 percent from the last bill of 2023 to the first bill of 2024. Electric prices from Xcel Energy are also expected to drop in 2024 as well with an approximate 2.47 percent decrease.

Xcel Energy submitted a proposal for the quarterly price adjustments to the Colorado Public Utilities Commission to reflect the prices of commodity prices of natural gas and the fuels that supply electricity. The Colorado Public Utilities Commission has to approve the rates before the customers will see a decrease in our bills starting on January 1, 2024. If the rates are approved for natural gas and electricity, they will remain in effect for three months.

I don't know about you, but I feel like this is good news. It seems as if everything has gotten more expensive as of late. The extra breathing room with the finances will surely be appreciated.

Source: KDVR