NEWS RELEASE For Immediate Release: November 9, 2016

Joshua B. Epel, Chairman Glenn A. Vaad, Commissioner Frances A. Koncilja, Commissioner

MEDIA CONTACT Terry Bote P: 303-894-2827 [email protected] www.colorado.gov/dora/puc

PUC approves settlement resolving three major Xcel Energy cases DENVER — The Colorado Public Utilities Commission (PUC) today approved a comprehensive settlement that resolves three major Xcel Energy cases involving electricity pricing and renewable energy, while adding appropriate safeguards for ratepayers. The PUC, a division of the Department of Regulatory Agencies (DORA), approved without modification an agreement that resolves Xcel’s phase II electric rate case, a solar subscription program, and the company’s 2017 Renewable Energy compliance plan. The settlement was supported or unopposed by 24 of 26 intervenors in the various proceedings. While the settlement expands the development of solar energy in Colorado, the Commission added protections that limit the cost impact to ratepayers, and preserve the ability of the PUC to determine in the future the fairness of proposed changes to how ratepayers will pay for the energy they use. The Commission also emphasized that future acquisitions of renewable energy should be proposed through the Electric Resource Plan (ERP) process, where resources have to be bid competitively and evaluated against other potential resources. “This decision continues the trend that Colorado is a national leader in thoughtful development of renewable energy,” PUC chairman Joshua Epel said. The settlement allows for the company to offer subscriptions to a new 50 megawatt (MW) solar facility through its Renewable*Connect program; eliminates the company’s proposed fixed monthly grid charge and develops a pilot program to precede the potential full-scale rollout of residential time-of-use (TOU) rates; resolves phase II cost allocations between rate classes; and allows for the acquisition of more than 300 MW of on-site solar and community solar gardens through the suite of Solar*Rewards programs. Parties to the settlement included the cities of Denver and Boulder, major environmental advocacy groups, state and national solar power trade groups, large industrial customers, PUC staff, and the Office of Consumer Counsel, among others. __________ About PUC The Colorado Public Utilities Commission (PUC) serves the public interest by effectively regulating utilities and facilities so that the people of Colorado receive safe, reliable, and

reasonably-priced services consistent with the economic, environmental and social values of our state. Visit www.colorado.gov/dora/puc. About DORA The Department of Regulatory Agencies (DORA) is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. Consumer protection is our mission. Visit www.colorado.gov/dora for more information or call 303-894-7855/toll free 1-800-886-7675.