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Incentives coming for affordable housing, new growth in Colorado Springs

Colorado Springs Utilities weighs electric rate hike on heels of natural gas increase

Colorado Springs Utilities is weighing an electric rate increase on the heels of a natural gas price hike approved last week.  Finance committee members on Friday favored an average $7 per month increase for residents  equal to an 8% increase in monthly electric costs  that would bring an average monthly residential bill up to $260, Utilities spokeswoman Danielle Oller said. Commercial customers could see a 10% increase to the cost of electricity equal to about $59 per month, moving the average monthly bills up to about $1,967, Utilities documents show. The rate change could take effect in April and be in place for 13 months.  Increases are needed to pay off $30.5 million spent on natural gas for electricity generation in February above what was expected during four extremely cold days, a Utilities presentation showed. 

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