Xcel Energy customers are seeing a big jump in their bills at the same time the utility company is seeing massive profits
Higher rates for Xcel customers were reflected for the first time in bills starting Nov. 1.
However, because customers cannot simply pick up and switch utility companies Denver7 asked Kenny what incentive Xcel really has to negotiate for the best possible rate. “I really think Xcel needs to step back and focus on customer satisfaction instead of nickel and diming us with all of these onerous rate increases that are just pancaking and adding up. We are in a very dangerous period now and I really call on the commission to really scrutinize this to a degree we've never done before,” Gavan said.
“We understand that any rate increase of any sort for some of our customers can be challenging and difficult. And the first thing I'd want them to know is that we are here for help,” Kenny said. “If they need help paying their bill, we can help put them on a balanced and levelized payment plans, and we can also direct them to energy assistance programs.”
At the same time that customers are struggling to pay their bills, in the first nine months of 2022, Xcel reported $555 million in profits for its shareholders. Kenny says the profits are an indicator of a healthy company and are in line with other utility and energy providers.
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