Legislature Forces Alternative Energy Use; Raises Costs on Business & Consumers

CRBC Supports SB071 - Reduce Energy Costs
(This bill was Postponed Indefinitely - PI'd. For more info on bills tracked by the CRBC Legislative Issues Committee, see our Legislative Matrix at www.smallbizgop.com)

The legislature’s priority should be improving Colorado’s economy with the focus on creating jobs. SB071 would do this in several ways.

First, this bill would roll back the requirement that Xcel go from a 10% renewable energy standard up to a 20% standard within five years and up to 30% within ten years; and, it will maintain the current 10% standard for renewable energy. This will significantly slow down the current energy rate increases, which over the last six years have been double the inflation rate (or 21% in the last six years – per a 2/5/11 Denver Post article).

These rate increases (collected by Minnesota-based Xcel) are hurting both Colorado homeowners and businesses. Some Colorado businesses are afraid to expand since energy costs are projected (under current law) “to increase another 20% as new power plants, wind farms and transmission lines are added . . .” (per the Denver Post article).

Second, this bill would help rural customers by restoring the exemption to these renewable standards for utilities serving less than 40,000 customers.

Lastly, this bill would likely prevent further job loses in one of Colorado’s major industries, coal-mining.