If the demand charge only applies to on-peak use, it looks like a good deal. Also, check to see if weekends ar off peak. If the demand charge applies to all hours (looks like it might from Xcel's web site), I would stay away. I have been on a time-of-use with on-peak demand charge rate in Arizona for 25 years and have saved a lot. I have a load controller that sheds the water heater, dryer, and heat pump compressors when demand exceeds the maximum setting I program (I choose set point based upon ambient temperature so that the house stays cool). My peak times are 9:00 AM to 9:00 PM Monday through Friday.
Silver LEAF 2011 SL rear ended (totaled) by in-attentive driver 1/4/2015 at 50,422 miles
Silver LEAF 2015 SL purchased 2/7/2015; traded 8/10/2019 at 82,436 miles
White LEAF 2019 SL Plus purchased 8/10/2019