COLORADO SPRINGS — Changes could be coming to your utility bills that will eat out of your pocketbook.
On Monday, Colorado Springs Utilities announced it would be proposing the 2025 budget and base rate increases to the Utilities Board on Wednesday. A media presentation will be held on Tuesday at noon, you can watch that press briefing below.
WATCH LIVE AT 12: Colorado Springs Utilities to present proposed rate increases
In a news release, the utility company said the 2025 budget is 21% or $1.8 billion more than the 2024 approved budget, and moving forward, plans to add $3.7 billion in infrastructural projects over the next five years.
Because of this, the utility company is proposing a base rate increase of 6.5% for electric and water, 4% for natural gas, and 9% for wastewater for each year from 2025 to 2029 to support the capital projects outlined in the proposed budget. CSU says that capital projects make up around 34% of the proposed budget.
According to the utility company, this will impact customers' bills by increasing them by about $14 a month for the standard four-service bill, or $168 a year.
The budget will be presented to the Colorado Springs City Council on October 22, with their final vote on the budget coming on November 12. If they are approved, the rate increases will take effect on Jan. 1, 2025.
What is also new in 2025 will be the proposed addition of the Energy-wise, or time-of-day rate. This will affect customers differently based on the time of day customers are using electricity. This rate would become standard for most customers if approved by the end of 2025.
This would affect customers by encouraging them to use less power when demand is high and if they do use it during those elevated periods of demand, then customers could expect to pay more for their power.
What are the Capital Projects?
Water Projects
Colorado Springs Utilities says an estimated $662,160 will be allocated for water capital expenses.
One of these projects is the continued growth and maintenance of the Lower Arkansas River Valley water-sharing program. Colorado Springs Utilities says they will continue to invest in storage projects including the Continental-Hoosier System Project which seeks to allow the utility company to supply enough water to 14,000 single-family residences in the community each year.
Wastewater Systems
There will be major infrastructure work on the wastewater system of Colorado Springs over the next five years to keep up with the eastward expansion of the city. Springs Utilities says the first phase of the Eastern Wastewater System Expansion project will cost an estimated $396 million and will serve up to 225,000 residents.
Sustainable Energy Plan
In an effort to continue to reach the goal of cutting the carbon footprint of Colorado Springs by 80% by 2030, the ongoing infrastructure projects Colorado Springs Utilities is working on are the Flying Horse Substation, Kelker-South Plant Transmission Line, Kelker Substation and the Midway-Kelker Transmission Line. Click here to see other completed infrastructure projects by Colorado Springs Utilities.
Along with infrastructure upgrades, other capital projects seek to increase the city's carbon-free energy resources to be more than 60% of the city's energy portfolio by 2030. These projects include the Pike Solar Array, Natural Gas Generators and Jackson Fuller Energy Storage project.
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