Colorado Springs Utilities to increase rates Aug. 1

COLORADO SPRINGS, Colo. — Cost adjustment increases for electric and natural gas starting on August 1 was approved by City Council on Tuesday.

The increases will align rates with fuel costs while bringing balances within the “band of reasonableness,” utilities officials said.

ecaapprovedJuly2016
ecaapprovedJuly2016

The cost adjustment guidelines for electric and natural gas include a “band of reasonableness” for energy costs – whenever fuel costs for electric or natural gas lead to an over-or-under collection of around $5 million from customers, cost adjustments will be requested.

The guidelines, which took effect in January 2016, describe a regular, quarterly adjustment schedule to pass on fuel costs to customers in a timely fashion.

In 2015, costs for fuel were unexpectedly low for quite some time, which led to an over-collection for natural gas and electricity. As a result, the company has refunded $13.1 million since January 2016 to customers through lower rates.

The company estimates that the typical four-service residential bill will be $203.28 – which is $4 less than December 2015, when the typical bill was around $207.54 monthly.

If you have any questions, contact Colorado Springs Utilities at 719-448-4800.

 

 

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