Hoffman: Testimony to Council 8.18.20

August 18, 2020

Chris Hoffman.  I live in Boulder.

I won’t be able to speak to you the 20th because I have a prior commitment, so I’m glad to have this opportunity tonight.

There are so many powerful reasons NOT to put an Xcel franchise on the ballot that it would be hard to do justice to them in two hours, let alone two minutes.

But the bottom line is: there’s no bottom line.

There is no bottom line. There has been no financial analysis of how much this will cost us. I’m a retired management consultant, but you don’t need to be a management consultant to know that it’s bad business to sign a contract without knowing the costs.

It would be like signing a lease with a landlord without knowing what the rent will be.

Agreeing to this would most likely drive up both our taxes and our electricity bills.

  • Taxpayers, per state law*, would have to pay for ALL extra renewables or resiliency needed to meet Boulder’s goals.
  • Plus, there is nothing in the agreement about future rates for customers.  Xcel plans to spend seven and a half billion dollars in Colorado over the next five years in an effort to drive up their earnings 5-7% a year. Electricity demand is flat, so to make that kind of money they most likely will continue to raise rates, as they have done over and over again in the past.   (The cost of renewables keeps going down…our rates should too!)

Las cuentas de electricidad sería demasiada cara.  ¡No es justo!  Por favor, digan “no” a una franquicia con Xcel.

Electricity bills would be too expensive. It’s not fair!  Please say “no” to a franchise with Xcel.
Finish the local power cost-assessment first, as was promised to the citizens. Allow time for a thorough analysis of the franchise. After you have done that, if a franchise still makes sense, go ahead and put it on the ballot.

*(State law CRS 40-3-106)

Chris Hoffman
Boulder, CO

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