Springs city council approves natural gas rate decrease

Colorado Springs Utilities says it’s saving money on natural gas and it will pass those savings on to you.

The utility says wholesale costs for natural gas have declined and are projected to remain soft. It proposed lowering the natural gas cost adjustment (GCA) rate for customers, decreasing the typical residential natural gas bill by about $7.17 a month, or 14.3 percent. Natural gas bills for typical commercial customers will drop by $148 a month, or 18.6 percent. Typical industrial customer bills will fall by $1,482 a month, or 19.1 percent.

Colorado Springs City Council voted unanimously to approve the rate decrease at its January 27 meeting. The change will take effect on February 1.

Colorado Springs Utilities says that it periodically changes fuel cost adjustment rates to compensate for seasonal fluctuations in wholesale energy costs. Springs Utilities passes on fuel cost increases or decreases to customers, dollar for dollar, and makes no profit on the sale of energy.