Xcel Energy Explains Bill Increase For Natural Gas, Electric Customers

DENVER (CBS4)- The price of natural gas used to heat homes is on the rise. Xcel Energy warned customers about the increase earlier this month.

The energy company said there are three reasons for the increase: demand is outpacing supply during the pandemic, gas exports have increased and there is damage from the recent hurricane, Hurricane Ida.

Residential customers will pay an average of 14% more, with the average bill going up from $78 to $89.

Electricity costs are also going up because natural gas is used at some electric generating facilities. The average household bill will see an increase in their electric bill of about 2%.