News Article

On June 14, 2024, Black Hills Colorado Electric (Black Hills) filed Advice Letter No. 871 to begin electric rate case Proceeding No. 24AL-0275E. Black Hills proposes an annual revenue increase of some $37 million above its current base rate revenue of $180 million. The Company calculates its increase based on a current test year ending December 31, 2024, using a 13-month average rate base valuation. It proposes a Weighted Average Cost of Capital of 7.72%, based on 52.75% equity at a Return On Equity of 10.5% and a cost of long-term debt of 4.61%. The Company’s operating expenses are $168 million.

Xcel Energy filed a significant update to its Wildfire Mitigation Plan (WMP) for PUC approval. The updated WMP addresses Xcel Energy’s full suite of mitigation activities and investments, such as: targeted equipment inspections, repairs, and replacements; expanded vegetation management; system protection enhancements; weather and wind modeling; and community and stakeholder outreach. The updated plan covers proposed spending for the 2025-2027 period totaling approximately $1.9 billion.

The Colorado Public Utilities Commission is seeking comments on a proposal from Xcel Energy to increase natural gas rates for its customers. Xcel has requested a phased increase to avoid overlap with the current Storm Uri cost recovery.

Senate Bill (SB) 21-272 directs the PUC to consider how best to provide equity, minimize impacts, and prioritize benefits to disproportionately impacted communities, and to address historical inequalities in all of its work.