Xcel Energy seeks natural gas rate hikes in Colorado [Video]

DENVER — Xcel Energy is asking Colorado regulators for permission to hike its natural gas base rate by 9.5% next winter and run its business more profitably.

The utility company, which has 1.5 million natural gas customers in the state, filed the rate increase request Monday with the Colorado Public Utilities Commission and says the increase will improve the business’s economic condition as it continues to invest in renewable energy expansion.

Xcel Energy Colorado, a business of Minneapolis-based Xcel Energy Inc. (Nasdaq: XEL), seeks to rate natural gas rates in November, adding $117 million to what its natural gas customers pay annually.

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