Xcel seeks June bump for natural gas
By Gargi Chakrabarty, Rocky Mountain News (Contact)
Published May 16, 2008 at 3:46 p.m.
Updated May 16, 2008 at 3:46 p.m.
Xcel Energy today asked for a hike in the price of natural gas it could charge customers in June.
The proposed price is more than double from June 2007 and 10 percent higher than this month, reflecting the higher price of natural gas with the construction of new pipelines in the state.
If approved, a typical residential customer’s gas bill next month would be $37.02, 17 percent lower than this month’s $44.62 because customers generally use less natural gas in summer months.
But June’s bill would be a whopping 51 percent higher than the $24.47 in June 2007.
For a typical small-business customer, the $147.31 gas bill in June would be 29 percent lower than May because of lower consumption. But the bill would be 63 percent higher than the $90.38 in June 2007.
Xcel, Colorado’s biggest utility, does not profit from the sale of natural gas to its customers. All costs associated with increases or decreases in the commodity price of natural gas are passed along to customers on a dollar-per-dollar basis, the utility says.
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May 17, 2008
12:24 p.m.
Suggest removal
justright writes:
And the guv just testified in front of Congress to slow down the permitting of new oil and gas wells. Here we sit on all this gas and the guv is doing all he can to slow down bringing online more clean burning natural gas. This just feeds the supply shortage and drives up the price.
Side note: He also stood on Aururia campus and told everybody how the tax stream from oil and gas would pay for their building projects. Looks like that money is also on its way to Wyoming or Kansas or Montana. Don't be suprised to read tax revenues fall over the next several years because of these anti-energy policies.
We might get one or two years before these policies really start impacting the states revenue stream. The reason is because of the rush to get permits before they go into effect. Unfortunately the market is looking several months and can see how these policies impact price both now and in the futrue.
May 19, 2008
11:11 a.m.
Suggest removal
jacka writes:
Bill Ritter & Harris Sherman - restricting OAG supply for 2 years and now wanting to tax the crap out of it for the enviromentalist!