Utility company proposes car rebate plan in Colorado

DENVER (AP) — A utility company has proposed a plan in Colorado to offer rebates to incentivize people to buy more electric vehicles.

Xcel Energy's rebates would total $130 million, the Denver Post reported Saturday.

The Colorado Public Utilities Commission is holding hearings regarding the utility company's plan, which proponents say would substantially cut greenhouse gas emissions and reduce air pollution. Critics are concerned that the plan would increase electric bills.

Xcel Energy spokeswoman Michelle Aguayo said in a statement that the average customer would pay 67 cents more per month if the plan is approved.

A 2019 law allowed regulated utilities to invest in equipment and programs to help increase the use of electric vehicles. The law also allowed Xcel Energy and other public utilities to recover the costs of building charging stations. The law was one of Gov. Jared Polis' major policy goals.