2KXCEL ENERGY FRANCHISE RENEWAL
should we approve a 20-year franchise with Xcel Energy?
This would allow Xcel (Public Service Company) to use city streets/rights-of-way for electric and gas service, to continue undergrounding utility lines, and to pay the city for that use. (The current contract expires at the end of 2026.) This is only the city’s permission and contract terms for Xcel to occupy public property. This does not change your rates; those are set by the Colorado PUC.
Xcel will pay: a 3% franchise fee (~$34M/year); roughly 1% of electric revenue (~$10M/year) for undergrounding utility lines; a one-time $2.5M bill-assistance contribution; low-income energy assistance funding; and added transparency/audit requirements.
- YES = approve a 20-year franchise to Xcel
- NO = do not approve a 20-year franchise. Service will continue but parts of the franchise will have to be renegotiated project by project.