Xcel Temporary Rate Increase

I received the following email the day the temperatures started dropping (1/23/2026). Why is this allowed? The rates already increase yearly; I have received an email that the rates will increase again in October. Now Xcel is allowed to temporarily raise my rate whenever they feel like it. I will already be using more gas/electric because of the freezing temperatures, but Xcel wants to make even more money by raising how much each kilowatt will cost me. This is disgusting. The CEO makes over $20 million in salary and bonuses. There needs to be a cap on how much Xcel can pass on to consumers and then they absorb the rest and let it hit their bottom line of profits.

WHOLESALE NATURAL GAS PRICES

Temporary Price Increase from Suppliers

Dear Customer,

Xcel Energy purchases natural gas to deliver to our customers and to use to generate electricity.

Cold weather across a large section of the U.S. is affecting both the production of and demand for natural gas, which leads to higher wholesale prices. As a result, we wanted to let you know about a short-term increase in the price of wholesale natural gas we purchase from our suppliers.

 
We pass along the wholesale cost of natural gas to customers, and we do not make a profit on it. Customer bill impacts from the higher natural gas prices over the next few days are not expected to be significant and will add less than a dollar per month to the average residential customer's bill over the coming year.

While we have taken steps to mitigate the impacts to customer bills from the higher natural gas prices, you may want to consider conserving energy for the next few days.

Learn more about the natural gas price increase and what we're doing to keep costs down.