Colorado Springs Utilities to consider increasing electric, gas rates

COLORADO SPRINGS, Colo. (KRDO) -- Colorado Springs Utilities is considering to increase electric and gas costs during its meeting Wednesday.

In the meeting, Colorado Springs Utilities is reviewing two-proposed options to adjust electric and gas costs.

Colorado Springs Utilities says there has been a 150% increase in natural gas prices since December 2021. As a result, the increase in cost is prompting Colorado Springs Utilities to propose an increase to the electric cost adjustment and gas cost adjustment.

Colorado Springs Utilities proposed another option in the utility rate increase. This option involves raising the electric cost adjustment and gas cost adjustment slightly higher in effort to recover fuel costs faster.

City Council will vote on the proposed rates on Tuesday, June 28.

If approved, the adjusted rates will go into effect on Friday, July 1.

You can learn more about Colorado Springs Utilities by clicking here.