Rob Clark on rate perception
From Full interview: Colorado Xcel president talks rate hikes · · Next 9NEWS
“We understand customers may perceive frequent rate increases negatively, but some adjustments reflect fluctuations in gas commodity costs, which can also result in rate decreases. Base rate increases are filed when we need funds for investments in safety and reliability.”
On , Rob Clark, Senior VP, Chief Communications Officer & Chief of Staff at Xcel Energy, spoke about rate perception during Full interview: Colorado Xcel president talks rate hikes on Next 9NEWS.
About Rob Clark
In a September 2024 interview, Rob Clark, Senior VP, Chief Communications Officer & Chief of Staff at Xcel Energy, addressed the company's recent rate increases. He stated that the dollars received from customers for base rates, particularly for the natural gas system, are primarily used to fund safety and reliability, with about 60% of the investment in a recent case going to safety, reliability, and mandatory relocations. Clark said that Xcel Energy buys gas commodity wholesale without markup, so customers see fluctuations immediately, and noted that gas commodity costs were about 28% lower than the previous winter. He described "safe, reliable, and resilient" as a reflection of the company's obligation to customers, not "magic words." Clark acknowledged that customers may perceive frequent rate increases negatively but explained that some adjustments reflect gas commodity cost fluctuations, which can also result in decreases, while base rate increases are filed when funds are needed for investments. Clark discussed the company's participation in shaping Senate Bill 291, which includes a gas price risk mitigation plan to smooth customer bills. He said Xcel Energy increased energy assistance programs by $47 million, funded by customers, and contributed $500,000 to Energy Outreach Colorado and about $1.3 million to various nonprofits. Clark stated that the company has a net zero vision to decarbonize electric and gas systems and aims to do so cost-effectively. He expressed a desire to provide outstanding customer service, saying the company must "act like a competitive business and treat our customers as if they are ours to lose."