Xcel Energy Electricity Rates (2025)

As of April 2025, the average residential electricity rate in areas served by Xcel Energy varies by state. For example:

• In Colorado, the average residential rate is around 13.29¢ per kilowatt-hour (kWh)

• In Minnesota, it’s approximately 14.15¢ per kWh

• In Texas, deregulated regions may offer plans starting as low as 12¢ per kWh

These rates are competitive and often lower than the national average of 17.01¢ per kWh.

For commercial customers, Xcel Energy offers custom plans based on business size and energy usage, with rates typically below national averages.

Average Monthly Electric Bill with Xcel Energy

Your monthly bill depends on your location and electricity usage. For example:

• An average residential customer using 700 kWh/month in Colorado may pay about $93/month

• In Minnesota, similar usage could result in a monthly bill of around $99/month

To estimate your own bill, multiply the average rate by your monthly usage.

Understanding Energy Choices in Xcel Energy’s Territory

In some states like Texas and New Mexico, energy markets are deregulated, giving you the freedom to choose your electricity supplier. In regulated states like Minnesota, Colorado, and Wisconsin, Xcel Energy is the default provider, offering standard plans and rates set by state regulatory commissions.

Why Switch to Xcel Energy?

If you live in a regulated Xcel Energy service area, switching to them means:

• Competitive and transparent pricing

• Reliable service with a strong infrastructure

• Renewable energy options to reduce your carbon footprint

In deregulated areas like Texas, choosing Xcel Energy as your provider (where available) may offer additional perks, like fixed-rate plans and smart usage tools.

Types of Energy Plans Available with Xcel Energy

1. Fixed-Rate Plans

Lock in a consistent rate per kWh for the term of your contract—ideal for budget-conscious households and businesses.

2. Variable-Rate Plans

Available in some deregulated markets, these plans let your rate fluctuate monthly with market prices—offering flexibility for short-term users.

3. No-Deposit or Prepaid Plans

In deregulated states, some providers working under Xcel Energy’s delivery zone offer prepaid or no-deposit options for customers looking to avoid credit checks or upfront costs.

4. Renewable Energy Programs

Xcel Energy leads the way in green power, offering customers options like:

• Windsource®: Choose a portion of your energy to come from wind

• Solar*Rewards®: Earn credits for energy generated from your own solar panels

• Community Solar Gardens: Join a local solar project without installing panels

How to Start or Switch Service with Xcel Energy

If you’re moving into an Xcel Energy area or want to switch from another provider (where allowed), getting started is easy:

1. Visit the Xcel Energy website or call customer service

2. Provide your service address and start date

3. Select a rate plan (where applicable)

4. Review billing and autopay options

There’s no interruption in service during a switch, and you can usually schedule service up to 30 days in advance.

Moving to a State Served by Xcel Energy?

Xcel Energy provides electricity and/or gas services in:

• Colorado

• Minnesota

• Wisconsin

• New Mexico

• North Dakota

• South Dakota

• Texas

• Michigan

Before moving in, set up your account online or by phone. You can often schedule service within minutes and even explore renewable programs right from day one.

Frequently Asked Questions about Xcel Energy

❓ What is the average electricity rate with Xcel Energy?

Rates vary by state and plan. In Colorado and Minnesota, residential rates typically range from 13¢ to 15¢ per kWh.

❓ Can I choose another electricity provider?

Only in deregulated states like parts of Texas. In regulated states, Xcel Energy is your primary provider.

❓ Does Xcel Energy require a deposit?

Not always. Deposit requirements depend on your credit history and state-specific regulations. Prepaid or low-deposit options may be available in deregulated markets.

❓ How can I reduce my electricity bill?

• Enroll in energy efficiency programs

• Use smart thermostats

• Shift usage to off-peak hours

• Explore renewable options like Windsource® or Solar*Rewards®

Bottom Line

Xcel Energy offers competitive rates, strong infrastructure, and clean energy choices across multiple states. Whether you’re a long-time resident or moving into an Xcel service area, you can take advantage of reliable service and cost-saving opportunities tailored to your needs.