Board approves giving Colorado Springs Utilities CEO a nearly $150K raise
COLORADO SPRINGS, Colo. (KRDO) - On Wednesday, the Colorado Springs Utilities (CSU) board approved a nearly $150,000 pay raise for Travas Deal, Chief Executive Officer (CEO) of CSU. The proposal was introduced by Renee Adams, the Chief Human Resources Officer.
The board says this decision aligns his compensation with the market median for comparable public utilities, aiming to retain experienced leadership.
The approved plan increases CEO Deal's annual salary from a previous $550,014 to $625,000 for 2026, effective May 24. His salary will then reach $700,003 by Dec. 20, 2027. The board referenced the Large Public Power Council (LPPC) 2025 market median data as the benchmark for this adjustment.
For context, a salary of $700,003 is more money than the maximum pay scale for 2026 for the Colorado Springs Fire Department fire chief, Colorado Springs Police Department police chief and the Mayor of Colorado Springs combined, plus around $75,000 of change.
The severance policy for the Chief Executive Officer was updated to six months of pay for termination without cause. This change provides stability and aligns with common practice for CEO roles at large public utilities, according to Colorado Springs Utilities.
Board member Nancy Henjum acknowledged that the decision is difficult, citing concerns from citizens regarding utility bills and the rising cost of living. Henjum noted that Colorado Springs Utilities frequently receives awards for its services, which she attributes to strong leadership. She also mentioned that a former CEO's decision not to take a raise for several years put the organization at risk for future leadership.
"I never came close to that. That kind of money. And 99% of our citizens don't. But 99% of us don't run a $2 billion organization with 2000 employees, which all of us rely on," said CSU Board President Dave Donelson.
CSU Board President Dave Donelson highlighted that many utilities with fewer services currently pay more than Colorado Springs Utilities. Donelson explained that the salary increase brings the CEO's pay to the 50th percentile among comparable utility companies. He stated that the CEO is currently at the 36th percentile, despite Colorado Springs Utilities being larger than almost all of those companies, with a larger budget and more employees. He also noted that Colorado Springs Utilities is unique in providing four services—electric, gas, water and wastewater—while 65% of other CEOs with less responsibility earn more.
Donelson mentioned that the CEO leads approximately 2,000 employees and manages a roughly $2 billion budget. Colorado Springs Utilities' policy for other employees is to pay at approximately the 60th percentile of their peer group, according to Donelson.
The change will also adjust the annual salary structure that CSU says is consistent with the percentage awarded to employees. In 2024, CSU approved a 3% increase above the 2023 base pay budget for the general workforce.
KRDO13 asked CSU about how this salary could increase costs for rate payers, if at all.
CSU says executive compensation does not drive customer rates. The utility group says rates are primarily influenced by infrastructure investments, capital projects, fuel costs, regulatory requirements and long‑term reliability needs. CSU says any potential compensation adjustment for the CEO was included in the approved operating budget.
"I think it's irresponsible for the board to just believe that. You know, Travis's loyal. He'll stick with us no matter how far behind his peers he is in pay," explained Board President Dave Donelson.
Remaining competitive in executive compensation is about retaining experienced leadership, ensuring stability, and avoiding the significant cost and disruption associated with executive turnover, stated CSU.
"He's nationally recognized and part of it is his military background. He's kind of an expert in security, security of utilities. And when you watch the news, national news, that's a big concern right now, and physical, you know, physical security attacks, things getting blown up by drones and things like that. He is sought after to speak on the topic and to give advice on," said the Board President.
CSU tells KRDO13 that Mr. Deal does not set his salary, nor did he request the pay increase.
"You get up, and you flip the switch, and the lights come on. There's one person who's, you know, at the end of the line of responsibility, and he's finally responsible, and he will be let go if the job isn't done right. So I think it's right. I think it's the right thing to do," said Donelson.
A six‑month severance aligns with common practice for CEO roles at large public utilities and provides stability and continuity in leadership, CSU said. The provision applies only in the event of termination without cause.
According to the CSU 2026 Annual Operating and Financial Plan, $7,937,963 is allotted for capital labor and benefits.
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