At Second Meeting, Joint Select Committee on Rising Utility Rates Seeks Answers from Colorado Utilities
DENVER, CO – Members of the Joint Select Committee on Rising Utility Rates today heard testimony and pressed Colorado utilities on how their decisions, investments, and business practices impact Coloradans’ energy bills.
“Coloradans have been feeling the pain on their energy bills, and today we took another step towards not only understanding why, but to identifying what we can do about it,” said Joint Select Committee Chair Sen. Steve Fenberg, D-Boulder. “It’s clear that the interests of utilities and the interests of the public could be better aligned. We’re going to keep pressing for answers and searching for solutions that will address the glaring disconnect between record high energy bills and record profits for utility companies while ensuring energy remains affordable and reliable for Colorado families.”
"Coloradans are paying record energy bills and they're counting on us to address skyrocketing prices," said Joint Select Committee Vice Chair Rep. Chris deGruy Kennedy, D-Lakewood. "Today's hearing confirmed what we’ve been hearing for months. Hardworking families are trying their best to make ends meet as utility companies steadily report record-breaking profits, raising serious questions about our current system. This hearing was an important step to help us understand the root causes of high energy costs and prioritize everyday Coloradans."
"As a joint select committee, we've been diving deeper into what's causing rising energy costs that hurt hardworking families who are just trying to get by," said Joint Select Committee member Rep. Matthew Martinez, D-Monte Vista. "It is clear that we need a better understanding of the costs, profits and investments of public utility companies to be able to get to the bottom of what is causing Coloradans’ high energy bills. This committee will continue asking the tough questions, pushing for answers and advocating for families."
“Nobody should be forced to choose between paying their energy bill and putting food on the table - but too many of our neighbors are finding themselves in that position, which is why we’re working to protect them,” JSC member Sen. Lisa Cutter, D-Jefferson County, said. “These are important conversations that are helping us get our heads around the problem and pointing the way to answers. I am excited to continue this important work, and look forward to finding solutions that will stabilize energy prices for hardworking Colorado families.”
The Committee heard testimony from the following Colorado utilities:
Xcel Energy | Robert Kenney, President, Public Services Company & Hollie Velasquez Horvath, RVP, State Affairs and Community Relations
Black Hills Energy | Nick Wagner, Vice President of Colorado Regulatory Affairs and Policy & Kellie Ashcraft, Vice President of Colorado Operations
Colorado Rural Electric Association | Kent Singer, Executive Director
Holy Cross Energy | Bryan Hannegan, President and CEO
CORE Electric Cooperative | Jeff Baudier, CEO
Colorado Association of Municipal Utilities | Daniel Hodges, Government Affairs Liaison
Atmos Energy | Kenny Malter, Director, Gas Supply and Services & Joe Christian, Director, Rates and Regulatory Affairs
Convened by President Fenberg and House Speaker Julie McCluskie, D-Dillon in response to recent spikes in energy prices, the Joint Select Committee on Rising Utility Rates is working to better understand issues such as the impact of volatility in natural gas markets, the frequency and justification for rate increases sought by utilities, and other relevant factors.
The Committee’s next meeting will take place on Monday, March 20 at 2:00 p.m. Learn more about the Committee’s work HERE.