Xcel Energy is considering raising rates in Colorado again, and it’s not just one increase. They’re looking at scenarios for years to come.
The project addresses its need to replace output from coal-fired plants as it moves away from them, as well as meet new demand from growing industries such as data centers and electric vehicles. However, a group gathered in Denver on Thursday to protest what they call the “monstrous plan.”
The group of sustainability leaders from across the state joined together to create the “Clean Up Xcel Coalition.”
Protesters in Denver criticize Xcel Energy’s request to increase rates and explore energy options the protesters say would harm air and water quality while costing more money for Coloradans.
CBS
“Advocates from across the state are gathered together to demand that Xcel do more to get off of gas,” said Margaret Kran-Annexstein, a member of the coalition who’s urging the Colorado Public Utility Commission to deny the energy company’s latest proposal.
“They’re asking for $500 million in money that- we don’t really know exactly where it’s going to go,” she said.
In a recent PUC meeting, they discussed an Xcel filing that details possible customer rate increases. According to a CBS News Colorado analysis, residential utility rates could increase 29% by 2035.
While Xcel says the spreadsheet is not a calculation of actual rates, the coalition is still concerned.
“People, not profits first,” one speaker at the protest said.
Xcel says the numbers are merely used to help understand overall rate trends. The increased rates would create funding for the expansion of gas plants and potentially explore other energy options, such as nuclear power.
“People don’t want those polluting technologies in their homes. They also don’t want them making their pocketbooks pay the price,” Kran-Annexstein said.
Margaret Kran-Annexstein protests Xcel Energy’s request to raise rates on Thursday, Aug. 7, 2025, in Denver, Colorado.
CBS
An Xcel spokesperson told CBS Colorado, “we continue to make significant progress towards our emission reduction goals approved by the state which would require us to retire our coal units by 2030. We’re working with the commission and key stakeholders to continue delivering customers safe, clean, reliable energy while keeping our customers’ bills as low as possible.”
The coalition believes the PUC will decide whether to approve the project sometime in August, unless an extension is requested.