Coal plant delay means lower rate hike
COLORADO - Xcel Energy Inc.'s electric rates won't increase as much as expected in January because of a delay in the start of the utility's new coal-fired plant.
The Colorado Public Utilities Commission said that it approved a roughly $70 million rate increase, down from the previously granted $128.3 million.
Typical homeowners will see their monthly electric bills rise by $2.55 rather than the $4.43 under the higher rate. Small commercial customers' monthly bills will increase $3.66, compared with $6.72.
Xcel Energy's new unit at the Comanche power plant near Pueblo likely won't start up until at least February because of a leaky boiler. The Minneapolis-based utility can ask that the entire rate increase be restored once the plant starts operations.
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ST. JOHNS - Newfoundland and Labrador's Crown energy corporation reported a pandemic-related profit loss from the first quarter of 2020 on Tuesday, along with further complications to the beleaguered Muskrat Falls hydroelectric project.
Nalcor Energy recorded a profit loss of $171 million in the first quarter of 2020, down from a $92 million profit in the same period last year, due in part to falling oil prices during the COVID-19 pandemic.
The company released its financial statements for 2019 and the first quarter of 2020 on Tuesday, and officials discussed the numbers in a livestreamed presentation that detailed the impact of the…
