Xcel Energy Texas customers to benefit from asset sale
Feb 4, 2014, 11:04
AMARILLO – Proceeds from the sale of Xcel Energy transmission assets to Sharyland Distribution & Transmission Services, L.L.C., will be shared with Xcel Energy’s Texas customers by way of a one-time bill credit in February that will lower an average residential bill by $7.54.
In 2013, Xcel Energy sold Sharyland a portion of a transmission line running from Hobbs, N.M., to Midland. Also included in the sale were a company-owned substation near Midland, a portion of the Grassland-to-Borden transmission line in Texas, and the Borden Substation.
Regulators in both Texas and New Mexico agreed last year on a plan to share proceeds of the sale with retail customers, who also benefitted from the assets over the years. Credits owed to New Mexico customers have been accounted for in a recent base rate change proposal still awaiting approval by the New Mexico Public Regulation Commission.
Texas customers, however, will benefit through a one-time bill credit based on the amount of power used between Feb. 1 and Feb. 28. Most customers will see the credit divided over two billing cycles, but the total refund for a typical Texas residential customer using 1,000 kilowatt-hours per month will be $7.54. All Texas retail customers will receive a credit. A commercial class of customers known as secondary general service will see a refund based on the average of the past 12-month’s usage.