Pulling the plug: the Drake Power Plant permanently shuts down energy generation

COLORADO SPRINGS, Colo. (KRDO) -- Two years after the city announced plans to decommission the Drake Power Plant, energy generation is permanently shutting down.

Colorado Springs Utilities and the city of Colorado Springs are working to meet federal regulations on energy emissions and establish more price stability in energy generation.

"This is really something we needed to do for two reasons," said Mayor John Suthers. "Number one, environmentally by law, and number two, it's in the best interests of our ratepayers in terms of establishing and maintaining reliability and stabilizing prices going forward."

They say the changes are necessary for establishing more energy efficiency and energy sustainability --- claiming it's all in the best interest of customers, but it will start with an impact on their pockets.

"Although the price varies between gas and coal at the beginning of the process, we need to take into account the entire process," said Aram Benyamin, CEO of Colorado Springs Utilities.

As they transition fully to the natural gas units, Colorado Springs Utilities says there will be a substantial initial cost in implementing the high-efficiency units, but they say the switch will lock in the prices customers pay for energy for 25 years.

"It's in the best interests of our ratepayers in terms of establishing and maintaining reliability and stabilizing prices going forward," said Suthers.