Public Utilities Commission of Colorado Approves Rate Increase for Public Service Company of Colorado

Strategic Insights -

The Public Utilities Commission of Colorado has approved a rate increase for the Public Service Company of Colorado, allowing the company to implement a revised Electric Commodity Adjustment (ECA) factor that will be effective January 1, 2023. This decision was made in response to the company's filing of Advice Letter No. 1907-Electric, which proposed revisions to the ECA factors applicable to all electric base rate schedules. The commission granted a partial and temporary waiver of Electric Tariff Sheets 143D and 143E, allowing the company to exclude incremental electric costs associated with the outage of Unit 3 at its generation station in Pueblo, Colorado from January 28, 2022 through June 12, 2022 from the ECA revenue requirement to be collected in the first quarter of 2023.

Key Takeaways:

  • The Public Utilities Commission of Colorado approved a rate increase for the Public Service Company of Colorado, allowing the company to implement a revised Electric Commodity Adjustment (ECA) factor effective January 1, 2023.
  • The commission granted a partial and temporary waiver of Electric Tariff Sheets 143D and 143E, allowing the company to exclude incremental electric costs associated with the outage of Unit 3 at its generation station in Pueblo, Colorado from January 28, 2022 through June 12, 2022 from the ECA revenue requirement to be collected in the first quarter of 2023.
  • The waiver was granted due to the restrictive amendment to Advice Letter No. 1907-Electric, which revised the calculation of the ECA, and the Second Amended Motion for Partial Waivers from Electric Tariff Sheet Nos. 143D and 143E.
  • The commission allowed Advice Letter No. 1907-Electric, as amended, to go into effect by operation of law, in advance of its January 1, 2023 proposed effective date.
  • The decision was made in a commissioners' weekly meeting on December 28, 2022.

Statistics:

  • The revised ECA factor will be effective January 1, 2023.
  • The waiver of Electric Tariff Sheets 143D and 143E will be in effect for the first quarter of 2023.
  • The incremental electric costs associated with the outage of Unit 3 at its generation station in Pueblo, Colorado from January 28, 2022 through June 12, 2022 will be excluded from the ECA revenue requirement.

Sources:

  • Decision No. C22-0839 before the Public Utilities Commission of the State of Colorado.
  • Advice Letter No. 1907-Electric filed by Public Service Company of Colorado.
  • Second Amended Motion for Partial Waivers from Electric Tariff Sheet Nos. 143D and 143E filed by Public Service Company of Colorado.