Drop in natural gas prices will lower Xcel customers' bills

A drop in natural gas prices will mean lower utility bills in February and March for Colorado customers, Xcel Energy announced last week.

A recent decrease in wholesale natural gas prices prompted Xcel to submit an interim fuel price adjustment to the Colorado Public Utilities Commission, effective Feb. 1. Xcel Energy filed a similar downward adjustment in November, which impacted December bills.

The change means residential natural gas customers will pay an average of $17.79 less in February than they would under the company's currently effective natural gas costs previously approved by the Commission, which took effect in January. Small business customers will pay an average of $83.14 less in February.

Customers pay the actual commodity cost of natural gas through their bills — Xcel Energy passes those costs along to customers without markup. Other than interim adjustments, commodity adjustments are submitted to the Commission every three months; the adjustment for the second quarter of 2023 will be filed mid-March.

Even with the drop in natural gas prices, the cost of natural gas remains higher than it has been in recent years, so Xcel Energy encourages customers to take advantage of the range of energy efficiency programs and saving tips the company offers to help customers manage their energy use and keep their bills as low as possible. The company also encourages customer to reach out if they're having trouble paying their bills, so they can be connected to programs or resources that may be able to help.

Help managing your energy bills

Xcel Energy encourages customers to explore ways to conserve energy and lower their bills by finding energy saving tips at xcelenergy.com/tips or learning more about energy efficiency programs and options at xcelenergy.com/programs_and_rebates.

Customers are also encouraged to contact Xcel Energy if they're having trouble paying their bill. The company can provide customers with options such as payment plans, energy assistance programs or an Averaged Monthly Payment. Customers can learn more about Xcel Energy's energy assistance programs at xcelenergy.com/EnergyAssistance or call 1-800-895-4999.