As legislators and officials from the state’s regulated utilities sorted through ways to avoid a repeat of huge increases in heating bills, one lawmaker asked how to square the soaring rates for customers with reports of big profits for the companies.
As Colorado legislators and officials from the state’s regulated utilities sorted through ways to avoid a repeat of this winter’s huge increases in heating bills, one lawmaker asked how to square the soaring rates for customers with reports of big profits for the companies.
The bipartisan committee’s goal is to recommend legislation or other steps to prevent future price shocks. Regulated utilities like Xcel pass through fuel price increases and decreases to customers. They don’t make a profit off higher fuel prices. Kenney and Nick Wagner, a vice president with Black Hills Energy, said utilities compete with other companies to raise money to pay for infrastructure and to cover expenses.Kenney said a utility’s ability to attract investors allows it to provide safe, reliable service and make the transition to more renewable energy. “It’s that very ability to attract capital at favorable rates that allows us to be able to implement the policies that we’ve all said we prioritize.
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