Xcel Energy says customers’ natural gas bills may rise with plummeting temperatures

With the temperatures dropping, the natural gas bills for Xcel Energy Colorado customers could increase. Xcel said Friday that increased wholesale natural gas prices might last a few days as freezing weather across most of the country affects natural gas production and demand. High temperatures in metro Denver are forecast for the low teens and single digits through Monday.

Lows are predicted to drop to zero or below. Xcel Energy passes on increases in wholesale prices directly to customers. The company said in a statement that it expects the increases to be “significantly smaller” than the jumps in price seen during Pass through increases show up on customers’ bills in the next quarter.

Natural gas prices skyrocketed for utilities in Colorado and throughout the Rocky Mountains to the Midwest during the 2021 storm. State regulators approved allowing Xcel to recover about $500 million of the costs from customers through phased surcharges on bills. To keep costs down, Xcel advised customers to try to conserve natural gas by lowering their thermostats to between 65 and 70 degrees while at home and 58 degrees when away.

Other tips are: Xcel said it buys a portion of its natural gas before winter, when prices are lower, and stores a portion to help minimize the impact of fluctuating prices due to cold weather. The company said it will work with customers having trouble paying their bills by providing payment plans and assistance programs.

More information is available at or by calling 1 800 895 4999. People can enroll in the to help make monthly energy bills more predictable. Xcel has 1.6 million electric customers and about 1.4 million natural gas customers in Colorado, with a lot of overlap between the two..