W ednesday May 15, 2013 Xcel Energy filed a proposal to increase it's fuel cost factors. This is in effort to reflect the rising cost of fuel.
If this proposal is approved by the Public Utility Commission of Texas, customers will have higher fuel charges on their bills beginning June 1, 2013.
Fuel costs typically account for a third of a customer's bill. For example, a customer using 1,000 kilowatt-hours a month the new cost factor would mean an average increase of 6.2% or $5.87 a month.
This increased cost is for Texas customers as New Mexico customers are already paying higher fuel prices.
According to Xcel, this proposed increase in customer bills is in addition to a previous announcement for a change in base rates to help fund new power lines, substation and generating capacity to meet growing demand.