Xcel Energy seeks rate hike
Mon, 17 May 2010 18:00:12 GMT —
AMARILLO, Texas (AP) - Some customers of Xcel Energy's Texas-based operating company, Southwestern Public Service Company, could be paying higher rates.
The company announced Monday that it is seeking a 7 percent overall retail rate increase in Texas, where it serves about 80 municipalities.
The statement, released in Amarillo, says the utility seeks to recover recent investments in power lines, substations and its work force.
Riley Hill, president and CEO of SPSC, says the regional economy is growing and requires greater investment in the power grid.
The company says current base rates are based on 2007 costs.
The proposal was filed Monday in Austin with the Texas Public Utility Commission. ---
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