Public Service Company of Colorado Receives Approval for Upward Revisions of Gas Rates

Strategic Insights -

The Colorado Public Utilities Commission has issued a decision allowing Public Service Company of Colorado to implement upward revisions of gas rates, effective January 1, 2023. The decision, issued on December 21, 2022, authorizes Public Service to increase its gas rates due to changes in the Gas Commodity Cost and Deferred Gas Cost. The proposed tariffs will result in an estimated increase of $22,170,987, or approximately 4.64 percent, above the December 2022 revenues.

The Commission found good cause to allow the proposed increase on less-than-statutory notice, as the changes in the Gas Commodity Cost and Deferred Gas Cost are deemed necessary to bring future gas cost recovery amounts more closely in line with the predicted future price of gas. Public Service has affirmed that the GCA is currently not impacted by gas transportation commodity discounts on its system, and the filing of this application has been brought to the attention of affected customers through various means, including legal notices and advertisements.

Key Takeaways:

  • Public Service Company of Colorado has been granted permission to increase its gas rates effective January 1, 2023, due to changes in the Gas Commodity Cost and Deferred Gas Cost.
  • The proposed tariffs will result in an estimated increase of $22,170,987, or approximately 4.64 percent, above the December 2022 revenues.
  • The Commission found good cause to allow the proposed increase on less-than-statutory notice, citing the need to bring future gas cost recovery amounts more closely in line with predicted future prices.
  • Public Service has affirmed that the GCA is not impacted by gas transportation commodity discounts on its system.
  • The filing of this application has been brought to the attention of affected customers through various means, including legal notices and advertisements.

Statistics:

  • Estimated revenue increase: $22,170,987
  • Percent increase above December 2022 revenues: 4.64%
  • Effective date of rate increase: January 1, 2023

Sources:

  • Decision No. C22-0827, Public Utilities Commission of the State of Colorado
  • Decision No. C09-0596, Public Utilities Commission of the State of Colorado
  • Decision No. C11-0946, Public Utilities Commission of the State of Colorado