AMARILLO, TX (KFDA) - It's good news and bad news in the local utility news this week.
On Monday, Xcel Energy announced it was canceling its request to increase fuel charges to customers that allowed them to recover expenses for natural gas to fuel its generators, to keep area lights and air conditioners running.
That increase would have cost the average Texas residential customer $1.50 more a month.
However, Xcel has had some cost savings including natural gas prices decreasing almost 15% over the last four months, and this has helped balance the deficit.
So, the producers are getting less for their gas while electric customers will be spared another rate hike.
An Xcel spokesman said another reason for the pull back on the rate increase was our recent cool, wet August, meaning fewer air conditioners were running full blast.
When demand for electricity is down, Xcel uses less natural gas and spends less for it.
Today's Perspective is a win for you as Xcel is not pursuing an increase in your bills, but our natural gas producers are struggling in the volatile, soft marketplace.
Balancing industry and consumer pricing is difficult. We need a strong economy, and our oil and gas industry, agriculture, retail and services sectors must stay strong for our communities to continue being a strong and healthy place to prosper.