Xcel Energy Colorado is rolling out a new program this year that will charge residential customers different electricity rates depending on what time of day they use energy. Customers using power during "On-Peak" hours will be charged more than double their normal electricity rates...
Xcel plans to transition all customers to the new rate plan by 2025, with the first group of 310,000 customers starting in March. Customers will be notified of the change, and will first receive a new electric meter from Xcel – either a smart meter or a non-communicating meter. Rates will vary by season and in three periods, Off-Peak, Mid-Peak, and On-Peak.
Winter Price:
Summer Price:
Winter Prices:
Summer Prices:
Customers do have the option to opt out of the Time of Use rate. If you do so, you will be placed on the Residential Opt Out rate. This rate charges the same amount seasonally, regardless of what time you use energy or how much energy you use.
Winter Price:
Summer Price:
If you would like to opt out of the "Time of Use" billing call Xcel at 800-895-4999 to give them your 30-day notice.
While some customers may save money on the new "Time of Use" rate structure it's likely that if you do not make changes to your usage during Mid-Peak and On-Peak hours your electricity bill can rise significantly. Even if you opt out of this new rate structure your summer rates will be 7.7% higher than they are now.
For full "Time of Use" rates and terms visit Xcel's website by clicking here.
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