PUC Holding Public Hearing on Xcel Rate Increase Proposal

DENVER - A public hearing on Xcel Energy’s latest proposed rate increase is scheduled today from 4-6 p.m. in Hearing Room A at the PUC, 1560 Broadway, Suite 250, in Denver.

The utility is seeking to recoup $159 million, down from the original $159 million it originally asked for, in order to cover costs associated with power plant construction and related activities. If approved by the Colorado Public Utilities Commission, the new proposal would raise rates for typical residential customers by about $2.94 per month and small businesses by $4.42 per month.

Ritter Signs Renewable Energy Bill

DENVER - A bill encouraging development of renewable energy has become law in Colorado. Last week Gov. Bill Ritter signed legislation that increases finance options for residential and commercial renewable energy projects. The law provides homeowners new options for financing solar electric systems and more choices on how they are compensated for the energy those systems produce.

It also encourages utilities to make solar rebate programs more accessible to customers.

Teton Energy Selling Piceance Basin Assets

Teton Energy Corporation has entered into an agreement to sell its 12.5% interest in Piceance Basin to local Puckett Land Company for $10.3 million. According to Teton, the sale is part of the company’s strategy to divest from all its non-operated assets in an effort to cut costs. It will use the funds from
the sale to pay off debt.

The deal is expected to be closed by 22 May and is subject to due diligence and closing conditions.

Court Rules Against CDOT on Mineral Rights

GLENWOOD SPRINGS - Last week the the Colorado Court of Appeals ruled that CDOT (Colorado Department of Transportation) does not own the mineral rights underneath land it condemned to build Interstate 70 through Garfield County. The ruling stems from an action more than 30 years ago when the predecessor to CDOT filed for condemnation against Agnes Hunt which the state agency wanted for land between Silt and Rifle. Hunt was awarded compensation.

Gypsum Ranch, which acquired Hunt’s property in 2000, argued
that CDOT acquired only a right of way across the land and a
right for ‘’subsurface support” for highway improvements,
without gaining rights to oil and gas underneath.

In its ruling the Appeals Court said state transportation
officials did not have the authority to take title to the
mineral interest by means of condemnation.

Banks Say State Legislature Treading on Their Turf

By John Ingold/Original Source

Despite the emphasis on renewable energy, money remains a
crucial stumbling block between those with the good intentions
and those with the good inventions, say clean-energy executives
and activists. Solar-power companies report a surplus of
ready-to-go projects without the loans needed to get them off
the ground.

“We have personally struggled to get local banks to provide
20-year debt financing,” said J.W. Postal, a senior vice
president at local startup Mainstreet Power.

At the state Capitol this year, lawmakers are taking aim at the
barrier. Bills churning through the legislature would authorize
the state treasurer to loan money to school districts for
putting renewable-energy equipment on their buildings and would
create a statewide special district to loan money to homeowners
to do the same.

A bill signed last week by Gov. Bill Ritter (see above brief)
will allow homeowners to enter into lease-to-own agreements for
solar panels and will create a situation where the state would
agree to back traditional loans to homeowners in order to
encourage banks to make those loans.

The proposals have run into opposition from bankers, who object
to the state crowding their business. The bankers say bill
proponents are low-balling estimates of how many such loans
banks make.

READ THE REST OF THE STORY HERE.