COLORADO SPRINGS — Leadership at Colorado Springs Utilities (CSU) says their budget is $1.8 billion, which is 21% more than this year's budget. CSU also says they plan to add about $3.9 billion in infrastructure projects over the next five years.
Because of this, the company is proposing a base rate increase of about $14 a month for the average residential customer next year, with additional similar increases every year through 2029.
The final vote on the budget will be next month. If approved, the rate increase will take effect on January 1, 2025.
Part of the base rate increase is to fund capital projects.
"Money is more of concern than it ever has been," sais Dave Niemann, a community member. "I think it's going to impact everyone. Not just folks like us who are on a fixed income, (but) young families, (and) young people. Our... paychecks cannot keep up with it."
CSU says the capital projects make up about one third of their proposed budget.
"The biggest threat would be if we don't meet regulatory requirement, the state can actually shut down," said Tristan Gerhart, Chief Financial Officer of CSU.
Gearhart says the city is growing fast, and it needs a better wastewater system in place.
"Our existing wastewater system right now has a capacity up until 2027 or 2028… and we are out of the capacity," said Gearhart.
As the city grows, people need more water. Another goal is to expand the Montgomery Reservoir.
"Raising the reservoir will allow us to store more of inner mountain water, which helps our community," said Gearhart.
CSU also wants to build a new natural gas generation station to create cleaner energy for the city, which will cost $600 million to $700 million.
Niemann says he understands the importance of the projects, but paying more expensive bills is tough.
"Please stop," said Niemann "Slow down, think about what you are doing. Think about all the folks who live here."
To learn more about the capital projects, visit CSU's website.
___
James Roland Bishop, builder of Bishop Castle passes away. How the castle he created is carrying on his legacy
Mr. Bishop spent 44 years of his life building the castle. It is now a staple of the state's history and leaves a 180-foot-tall legacy for his family.
____
Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.
