| The following rate changes were announced recently by Colorado Springs Utilities: As a non-profit, community-owned utility, we do not make a profit on the rates we charge for services. We pass along fuel rate increases or decreases directly on to customers, typically four times a year. City Council has approved changes for the next three months, and we want to break it down to explain what this means for your bill. |
| We have two types of rates: Fuel rates These are also called cost adjustments, and are based on the changes in fuel costs to provide you with natural gas and electric service. Unlike base rates, fuel rates fluctuate up or down with the market prices. Today, City Council approved increases in natural gas and electric cost adjustments. This is the first increase in these rates since October 2022. Natural gas prices are expected to be higher this winter, compared to current prices, as a result of increased demand in colder months. This is driving up the fuel rates. The average monthly impact on a typical bill is about $8.71, or 3.5%. Base rates Base rates are typically updated once a year. This revenue is invested into the system to maintain water mains, power plants, our natural gas system and other upgrades. These projects ensure we meet regulations, support growth and maintain service reliability. This year we are proposing a five-year rate case that includes increases across all four services for 2025-2029. The total impact is estimated to be $14/month on a typical four-service bill beginning Jan. 1, 2025, if approved. Read more about the five-year plan HERE. |