A few weeks ago Xcel decreased the renewable energy rebate from $4.50 per watt to $3.50 per watt. That adjustment was based on the increase of the ITC (federal investment tax credit).
Yesterday, Xcel announced it will increase RESA – the electric bill component used to fund their renewable energy program. They did not provide a specific reason for this increase. Xcel did estimate the increase will amount to about 33 cents on the average residential bill.
Presently RESA is six tenths of one percent (0.6 %) of the total electric bill before taxes. A $100 electric utility bill includes about 60 cents for RESA.
I would like to hear more about Xcel’s plan for the increased revenue!
What is the currnet rate?
My most recent calculation of the variable rate is 9.41 cents per kWh (winter) and 9.73 cents (summer). The fixed charge per month is $9.86. This charge includes Service and Facility ($6.25), GRSA ($2.81), RESA ($0.19), franchise fees and sales tax.