But the cost of building and maintaining pipes is going up. Xcel doesn't request a rate increase because of commodity costs, those are passed through to customers directly.
You're confusing electric and gas riders with fixed rates. ECA and GCA fluctuate quarterly with the price of electricity and gas. What they're asking for in this filing is an increase to the normal rate.
Come up to Longmont, we're actually progressive unlike those Boulder NIMBYs. Gas is the only non-municipal utility and we have the highest rate ISP in the nation.
E: oh yeah and we're kicking Flock out of the city.
Although this is out of jurisdiction for the CO PUC, I still can't figure out why Minnesota let Xcel pay for naming rights for the arena in St. Paul for 25 years (it is no longer the Xcel energy center). If an organization is a state sponsored monopoly, why do they need to advertise?
Yes. Nearly every post about a rate hike proposal has at least one of them showing up and saying how they only make profits on capital expenditures, and other stupid shit, ignoring that the fact it's still a for-profit company running things with no competition. Search the sub for Xcel posts. You'll see them in the comments.
Won’t somebody think of the shareholders?! Climate change means fewer cold days, and people aren’t using their heat as much. Xcel might make less than last years $2b profit. They may even have to reduce exec bonuses. We don’t want that to happen now, do we?
In all seriousness I think that all core utilities should be public, and Xcel sickens me.
Xcel Energy's top executives earn millions, with CEO Bob Frenzel receiving over $12 million in 2022 and over $21 million in 2023, while other EVPs like Brian Van Abel (CFO) and Amanda Rome (Chief Customer Officer) earn in the multi-million dollar range annually, reflecting substantial base pay, stock awards, and bonuses, according to filings and reports from sites like Salary.com and Business Journals.
Top Executive Compensation Examples (2023 Data):
Bob Frenzel (Chairman, President & CEO): Over $21 million total compensation, including salary, stock awards, and bonuses.
Brian Van Abel (EVP, CFO): Around $4.6 million in total compensation.
Timothy O'Connor (EVP, COO): Around $4.16 million in total compensation.
Amanda Rome (EVP, Group President, Utilities): Around $3.4 million in total compensation.
State sponsored monopoly strikes again
What the actual fuck. How? Spot gas prices are DOWN.
Line must go up
But what happens when we get to the top?…..
Line must go up
But the cost of building and maintaining pipes is going up. Xcel doesn't request a rate increase because of commodity costs, those are passed through to customers directly.
False. Remember that major power cluster in Texas a few years ago that spiked natural gas prices? Xcel got a rate increase to cover them on that one.
You're confusing electric and gas riders with fixed rates. ECA and GCA fluctuate quarterly with the price of electricity and gas. What they're asking for in this filing is an increase to the normal rate.
Private shareholder meeting at Xcel: we anticipate a 10% growth in pure profits to you
Meeting with PUC: we need an additional 10% rate increases for "maintenance and upgrades"
Please, tell me where will all that go
More gas ever, this is just greed
This is why we need socialized public utilities. No more monopolies and for profit entities for power, water, sewer, internet and telecommunications.
This is a society we’re living in, it’s time we acted civil about it.
Fucking Nebraska has public owned power. Why can't we?
Come up to Longmont, we're actually progressive unlike those Boulder NIMBYs. Gas is the only non-municipal utility and we have the highest rate ISP in the nation.
E: oh yeah and we're kicking Flock out of the city.
You should feel proud. Good on Longmont
Can't believe the Xcel apologists aren't all over this post already.
Fuck this company and fuck the government for allowing their for-profit monopoly.
Although this is out of jurisdiction for the CO PUC, I still can't figure out why Minnesota let Xcel pay for naming rights for the arena in St. Paul for 25 years (it is no longer the Xcel energy center). If an organization is a state sponsored monopoly, why do they need to advertise?
They probably didn't get cost recovery on that expense. I would hope not at least.
Do xcel apologists exist ?
Yes. Nearly every post about a rate hike proposal has at least one of them showing up and saying how they only make profits on capital expenditures, and other stupid shit, ignoring that the fact it's still a for-profit company running things with no competition. Search the sub for Xcel posts. You'll see them in the comments.
Xcel apologists are paid actors
Make your voice hard! Submit you complain or comments!
https://docs.google.com/forms/d/e/1FAIpQLSclWDeNS2FCh0NdEijNU4igpUKqRZvTIYwZ8XSA2YYx3LF6qA/viewform
Won’t somebody think of the shareholders?! Climate change means fewer cold days, and people aren’t using their heat as much. Xcel might make less than last years $2b profit. They may even have to reduce exec bonuses. We don’t want that to happen now, do we?
In all seriousness I think that all core utilities should be public, and Xcel sickens me.
Public utilities need to be nonprofit
Xcel Energy's top executives earn millions, with CEO Bob Frenzel receiving over $12 million in 2022 and over $21 million in 2023, while other EVPs like Brian Van Abel (CFO) and Amanda Rome (Chief Customer Officer) earn in the multi-million dollar range annually, reflecting substantial base pay, stock awards, and bonuses, according to filings and reports from sites like Salary.com and Business Journals. Top Executive Compensation Examples (2023 Data): Bob Frenzel (Chairman, President & CEO): Over $21 million total compensation, including salary, stock awards, and bonuses. Brian Van Abel (EVP, CFO): Around $4.6 million in total compensation. Timothy O'Connor (EVP, COO): Around $4.16 million in total compensation. Amanda Rome (EVP, Group President, Utilities): Around $3.4 million in total compensation.
This record is broken and on repeat
No. No. No.
Xcel is trying to make hay while Polis still reigns!
“Should Big Utilities Pay for Their Bad Choices?” — Episode 117 of Building Local Power 🔗 https://ilsr.org/articles/securitization-coal-plants-episode117/
When is this going to stop..they have a monopoly and need way more regulations
Money grubbing corrupt ass institution.
Private Equity in utilities because they can keep asking and getting rate hikes.
I'm not sure what you think private equity means, but Xcel is not private equity under any definition.