DENVER — Consumers and advocacy groups are calling on the Colorado Public Utilities Commission to reject a proposed $356 million Xcel Energy rate hike as a deadline for a decision looms.
Xcel Energy filed the request on Nov. 21, 2025, seeking a $356 million increase in annual revenue. If approved, the increase would translate to an estimated 9.9% increase in residential electric bills, or roughly $9.94 more per month, starting in late August 2026.
Watch Jessica Porter's report on this possible price hike and hear from an activist who says prices are getting too high in the video below.
Robert Kenney, president of Xcel Energy Colorado, said the increase is to recover investments in safety and reliability the company made over the past 3 years.
"Over the last several years, we've been able to reduce carbon emissions 57% from 2005 levels, and we've added tremendous amounts of renewable energy to our system and we've done all this over the last three years. We haven't had a rate increase in base rates since 2022," Kenney said.
Xcel Energy also requested an additional $100 million from customers to fill potential power gaps this summer and a $190 million increase for natural gas services.
The LIBRE Initiative, a nonprofit grassroots organization, opposes these increases.
"This is a lot for consumers. I mean, we have seen several of these rate increases the last few years, and it's unsustainable, and if we want to really see a better outcome, we need to hold the utilities companies, which are government-created monopolies that do not compete in the free market, (accountable) and why it's important that we have that much stronger oversight on these companies," Angel Merlos, strategic director of LIBRE Colorado, said.
Merlos and LIBRE believe the Colorado Legislature, the Public Utilities Commission, and utility companies need to work together to ensure affordable, fair prices for consumers.
The PUC will make a decision in the coming weeks on the rate hike, which would take effect in late August. The next public comment hearing is scheduled for Tuesday, June 16, from 4:30-6:30 p.m.
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