Colorado Springs City Council approves new utility increases, homeowners expecting to pay hundreds more

COLORADO SPRINGS, Colo. (KRDO) - On Tuesday, Colorado Springs City Council approved a request from Colorado Springs Utilities to increase utility base rates.

Base rates will increase of 6.5% for electric and water, 4% for natural gas, and 9% for wastewater for each year from 2025 to 2029.

CSU officials say the proposed rate increases will equate to roughly a $14 /month increase for a sample resident for the year 2025.

However, under the proposal, the rates will continue to increase each year until 2029, resulting in an annual increase of $960 for a sample family by the end of the agreement.

Colorado Springs Utilities said the 2025 proposed budget is 21% more than the 2024 budget. It said it's "facing historic demands and plans to add $3.9 billion in infrastructure during the next five years."

The vote on the new rate hikes passed unanimously in city council.