COLORADO SPRINGS — Get ready for higher utility prices in Colorado Springs starting July 1. Residential customers can expect to pay an average of $27 more on each bill.
On Tuesday, Colorado Springs City Council, which serves as the utility board, approved the rate hike for customers. On the table were two possible resolutions, both increasing utility prices, but at different rates. The council approved the plan with the lower rate, which increases both electric and natural gas prices.
Tristan Gearhart, Chief Planning and Financial Officer for Colorado Springs Utilities, said the price of natural gas has gone up over 150% since the beginning of the year.
"The natural gas markets over the last year have been highly affected by the war in the Ukraine," he said. "Everyone's trying to figure out how to deal with those things, not very much dissimilar from what's happening at the fuel pumps from a gasoline standpoint as well."
Gearhart said Colorado Springs Utilities is looking at natural gas price forecasts for the coming year. He said customers can expect an eventual decrease in their utility bills, but not until around April next year.
He encourages customers to practice energy saving techniques in the meantime.
"Being able to turn off lights at certain times, run your air conditioner less. There are ways for you to be able to find savings in your electric bill, in particular, during the summertime by looking at the way you use that electricity," Gearhart said.
Colorado Springs Utilities has options for customers who may have trouble paying their utility bill.
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