Xcel Energy Inc. says it has has reached a sweeping settlement agreement on renewable energy and pricing that could change the way electricity is produced and paid for in Colorado — if state regulators sign off on it.
The settlement covers three proposals the power utility has submitted to state regulators: One to change its customer rate structure, another to create a community solar program, and a third to add more renewable energy to its portfolio.
The agreement, filed Monday with the Colorado Public Utilities Commission, involves 22 of the 26 groups that are parties to one or more of those efforts, which Minneapolis-based Xcel (NYSE: XEL) is pushing in the state as part of its “Our Energy Future” plan. After months of negotiations, the 22 entities agreed either to the entire settlement or to pieces of it.
“The agreement will benefit Xcel Energy’s Colorado customers by allowing us to move forward with the ‘Our Energy Future’ initiative,” said Alice Jackson, Xcel’s regional vice president for rates and regulatory affairs. Read more …