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Xcel Fuel Cost Adjustment Pass Through
In mid-February, Winter Storm Uri blanketed the central United States with record cold temperatures that challenged the electric grid. The storm triggered a tightening of the market for natural gas, a fuel source used to heat homes and generate electricity. This caused the price of natural gas to skyrocket, and several generation and transmission (G&T) utilities ended up paying the price to meet energy demands.
Grand Valley Power’s wholesale energy provider, Xcel Energy, is one of the G&T providers that ended up paying these high fuel prices to operate their facilities. Xcel is passing along these charges to wholesale providers, like GVP, and is now slamming the cooperative with an additional $2.37 million Fuel Cost Adjustment (FCA).
View our webpage dedicated to answering your questions regarding the impact of these price spikes and what it means for co-op members.