Link: http://www.bizjournals.com/denver/stories/2009/03/16/daily18.html

This comes as no surprise, as this is Xcel's 5th increase in a little over 2 1/2 years.

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Xcel Energy on Monday filed for permission to raise electricity rates in Colorado by 2.6 percent.

The approval has to come from the Colorado Public Utilities Commission. If approved, the higher rate would take effect April 1 and bring in $14.6 million more in the second quarter.

Xcel files with the PUC every quarter an Electric Commodity Adjustment (ECA), which takes into account the costs of fuel used to generate electricity and to purchase energy.

Xcel said that although those prices are down by about 44 percent, the requested increase reflects a $61.5 million shortfall in the previous quarter. The shortfall comes in the utility’s deferred balance.

If the new rate is approved, the average residential customer’s bill would increase by 2.61 percent, or by $1.43 a month, to $56.23. The average small business customer would have a 2.67 percent increase, or $2.33 a month more, to $89.91.