Understanding energy bill increases
As prices for many everyday goods and services rise, natural gas commodity prices are also increasing, leading to higher electric and natural gas bills across the nation.
Xcel Energy works hard to keep costs low for customers and is committed to providing ways to help manage bills and save money. Please reach out if you are having difficulty paying your bill, because help is available.
Xcel Energy does not make a profit on the natural gas it delivers to customers or uses to generate electricity – that wholesale fuel cost is passed on to customers without markup. Similar to the effect higher oil prices are having at the gas pump, natural gas commodity prices are also increasing due to the same worldwide supply-and-demand impacts. In particular, an unseasonably cold winter and spring lowered natural gas storage supplies across the country, and there has been an overall increase in demand both nationally and internationally.
Ways to save
With higher natural gas costs, there are many ways to save energy and money, including:
- Upgrade your thermostat – A programable thermostat will let you set the temperature in your home to use less energy when you’re away. A smart thermostat will allow you to control the temperature from a mobile device while you’re out.
- Use your blinds or curtains to regulate the temperature in your home – Close them on hot days to keep the heat out, or if your home is cold, open blinds to take advantage of the sun’s warmth during the day.
- Use ceiling fans to your advantage – Ceiling fans use less energy than air conditioning and can help cool a room during warmer days. And during colder months, running ceiling fans clockwise forces the warm air near the ceiling down.
Find energy savings tips for all seasons at xcelenergy.com/tips.
Help is available
Please contact us if you’re having trouble paying your bill. We can provide you with options such as payment plans and energy assistance programs. Learn more about Xcel Energy’s energy assistance programs and resources or call 1-800-895-4999.
Working to keep costs low
Xcel Energy is always working to keep costs low as the company focuses on the safety and reliability of the electric and natural gas systems that serve our customers, while transitioning to cleaner energy. Some of the ways we keep costs down include:
- Adding more clean energy to the grid, because wind and solar generate electricity without fuel costs.
- Purchasing and storing natural gas ahead of the winter heating season when prices are lower.
- Contracting for wholesale natural gas purchases before winter to lock in lower prices.
- Having a diverse mix of electricity sources that can be used to minimize the effect of natural gas price increases on electric bills.
- Optimizing purchasing and using technology to make the company’s operations more efficient.