Colorado regulators object to Xcel jets in rate hikeDENVER (AP) — Colorado regulators said customers shouldn't have to pick up the tab for Xcel Energy's use of corporate jets.
DENVER (AP) — Colorado regulators said customers shouldn't have to pick up the tab for Xcel Energy's use of corporate jets.
The Minneapolis-based utility company included $1.1 million for the use of its two jets as part of its proposed $142 million electricity-rate increase.
The Colorado Public Utilities Commission staff found that two Xcel executives were using private jets to fly between their homes in Denver and Xcel headquarters in Minneapolis, the Denver Post (http://bit.ly/y2be9E ) reported Tuesday.
"The company's ratepayers do not benefit by these two employees commuting via the two corporate jets to their primary place of employment," a staff review said.
The company responded in an email saying it saves time and money by not using commercial flights.
The cost of operating one of the leased, eight-seat jets is more than $4,600 an hour.
The $142 million rate increase also covers pension and operating costs as well as making up for the loss of a $52 million wholesale power contract.
Hearings involving Xcel and PUC staff regarding the rate request are scheduled to begin April 11.