Utilities are supposed to work for us, the people who keep the lights on and pay the (ever-rising) bills. Instead, for-profit corporations like Xcel Energy are padding shareholders' pockets with excessive profits and sending the bill to Colorado families, workers, small businesses, and YOU.
Every month, your energy bill does more than cover electricity and heat. It feeds a pipeline of pollution and corporate greed. Xcel’s CEO made $21 million in 2023. As our energy bills continue to rise, the company took home $1.2 billion in profits last year.
Xcel is making billions, paying executives millions, and still not moving fast enough to lower our utility bills by investing in the scale of clean technology needed to achieve Colorado’s climate goals and proven to be cheaper, smarter, and more efficient. Coloradans have been asking Xcel for more clean energy for years, yet the utility’s most recent energy proposals asked state regulators for permission to build more gas plants and pipelines, backslide on targeted pollution reductions, and increase costs on monthly energy bills.
When Xcel chases corporate profits, it builds more expensive fossil fuel projects, locks our communities into paying for decades of outdated and inefficient power plants, and claim its for “reliability.” We call it what it is: bad service and corporate greed.