Low natural gas commodity prices are translating into big drops in Colorado electricity bills, according to Xcel Energy Inc.

Xcel (NYSE: XEL) on Wednesday filed with state regulators the utility’s recommended per-unit prices for electricity and natural gas for the third quarter, July through the end of September, for its Colorado customers.

If approved by Colorado Public Utilities Commission, the proposed rates would go into effect July 1 and would be in effect for three months.

Comparing the year-over-year prices, monthly electricity bills for residential customers are expected to be about 8 percent less during the upcoming third quarter compared to the third quarter of 2015, Xcel said in an announcement.

Small-business customers can expect their bills to be 23 percent lower than last year’s third quarter, Xcel said.

Read the full report in the Denver Business Journal: http://bit.ly/1Uyb9VU.