Cold temperatures and snow have moved into Colorado and both are expected to stick around for the remainder of the week. Xcel Energy reminds customers to take steps to reduce their energy bills. Additionally, Xcel Energy offers payment plans and can connect customers in need to state energy assistance programs to help with bills.
Natural gas used to heat homes and businesses costs less this year, compared to this time last year, meaning customer bills should be significantly lower.
- The average residential customer's natural gas bill is expected to be about $100 per month, compared to $139 for the same three months (January, February and March) last year, which is a decrease of about 28%.
- The average small business customer's natural gas bill is expected to be about $429 per month compared to $616 for the same three months last year, which is a decrease of about 30%.
The wholesale price of natural gas makes up the largest portion of customer bills in the winter heating season and is driven by global supply and demand market forces. Natural gas is also used as fuel to generate electricity at natural gas plants, which affects electric rates in addition to natural gas rates. Xcel Energy passes the cost of fuel directly to customers without markup or profit.
Take steps to save
Here are ways customers can save energy and money this winter:
- Lower your thermostat a few degrees, ideally to 68 degrees or lower.
- Adjust your programmable thermostat to automatically lower the temperature while you are away or while you sleep.
- During daylight hours, open drapes and blinds to maximize heat from direct sunlight. To retain heat, keep them closed when it is dark.
- Run ceiling fans in a clockwise direction to push warm air down from the ceiling, adding comfort and savings.
- Keep interior doors open to help circulate air more freely and maintain constant heating levels.
Find more ways to save on the energy savings tips page on xcelenergy.com. Customers can also learn more about programs, incentives and rebates that can help make homes and businesses more energy efficient.
Customers are encouraged to contact Xcel Energy if they're having trouble paying their bill. We can provide options like payment plans and energy assistance programs. Customers can learn more about energy assistance programs and resources on the website or by calling1-800-895-4999.
Decrease in winter heating bills
Overall, the average Colorado residential natural gas customer will see their monthly bills decrease about 31% comparted to last winter. A breakdown of bill changes comparing winter 2022-2023 to winter 2023-2024 is provided below.
To protect against market fluctuations in the price, Xcel Energy takes a number of steps, including storing natural gas for use during the heating season, contracting for natural gas in advance, and purchasing financial hedges, which act like insurance to protect customers from significant price changes. For its electric customers, the company has a diverse energy mix, with many energy sources that can be used to minimize the effect of natural gas price increases on electric bills.
Winter Safety Tips
Finally, it's never too early to think about winter safety and Xcel Energy also wants to remind customers of tips they can take to stay safe.
For natural gas customers:
- Have a plan for removing snow and ice from the natural gas meter. This includes having a clear path to the meter for easy access in an emergency.
- Gently remove snow or ice from the natural gas meter or outside appliance vents to avoid buildup of pressure in the gas lines or natural gas inside the home. Removing gently by hand is best.
- If there is damage to a gas meter due to snow or ice falling from the roof or nearby trees, move a safe distance from the gas meter before calling 911 and Xcel Energy at 800-895-2999.
- If customers experience a natural gas outage, do not try to relight gas appliances. Call Xcel Energy to check the gas meter, service lines and appliances - free of charge.
Other ways customers can prepare, stay safe:
- Stay away from downed power lines. Always assume an electric line, even one that is on or near the ground, is energized and therefore dangerous. Never, under any circumstance, touch or move a downed power line. If you come across a downed power line, leave the area and report it immediately by calling 1-800-895-1999.
- Build a home emergency kit. Xcel Energy recommends assembling an easily accessible kit that can be used in the event of a power outage. Useful items may include:
- Xcel Energy phone numbers - 1-800-895-1999 for residential or 1-800-481-4700 for business
- Battery-powered radio or television
- Flashlights
- Batteries
- Back up phone chargers
- A phone that does not require electricity
- Non-electric alarm clock
- Bottled water and nonperishable food
- Manual can opener
- First aid kit
- Extension cords (for partial outages)
- Manufacturer's instructions on how to manually open power-operated doors (e.g., garage doors)
- Heating safety. If using a space heater, take care to ensure safety as more than 65,000 home fires are attributed to heating equipment each year in the United States, according to the Electrical Safety Foundation International. When using a space heater, make sure the heater has the label showing it is listed by a recognized testing laboratory, and read the manufacturer's instructions and warning labels. Additionally, inspect heaters for cracked or broken plugs and connections; don't use it if they are frayed, worn or damaged. Never leave a space heater unattended. Turn it off when leaving a room and don't go to sleep with a space heater on. Additionally, Xcel Energy offers rebates and incentives to install energy efficient furnaces and insulation.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
