It Looks Like Our Power Bill Is Going Up, But Not For The Reason You Think
So a few days ago I reported how our Xcel Energy bills here in the Panhandle wouldn't be going up because of costs associated with the now named winter storm Uri. By the way, who comes up with these names?
I'll still stand by that answer as the company mentioned that any types of surcharges would be absorbed over the course of a 24 month period. You might see a higher bill just because you used your heat and electricity a little more often during the storm.
And Xcel even explains why:
Xcel Energy plans to seek approval to stretch out recovery of these fuel costs up to a 24-month period in both Texas and New Mexico. The company is still calculating the natural gas and market energy costs from the “Winter Storm Uri” but expects monthly residential impact of the additional fuel costs to be around $7 more per month over two years.
By the way you can read more of the news release here
Now it may not seem like too much, but that does add up over time. But it's still far better than the 4 and 5 figure bills seen across the rest of the Lone Star State.
So when would you and I start seeing this? As early as April. If you happen to need help with higher bills, the folks over at Xcel would be more than glad to help you out with high bills with payment options and hardship programs