Xcel on Tuesday asked state regulators to raise electricity rates by a total of $244.9 million over the next four years, starting in 2018.

Xcel Energy Inc. (NYSE: XEL), based in Minneapolis, is Colorado’s biggest utility.

The Colorado Public Utilities Commission will review the request and hold public hearings. A decision isn’t expected until next year.

The rate increase, as proposed by Xcel, would raise Colorado energy bills by an average of about 2 percent per year in 2018 through 2021.

Over the course of four years, average monthly bills would rise by a total of $1.73 for residential customers and $2.68 for small-business customers.

Read more at the Denver Business Journal: http://bit.ly/2xWGlJm