City Council to discuss possible base rate increases in proposed 2023 budget
COLORADO SPRINGS, Colo. (KRDO) -- Tuesday, City Council is scheduled to discuss the Colorado Springs Utilities' 2023 annual operating budget and possible base rate increases.
According to Colorado Springs Utilities, base rates help support pipes, wires, and plants. This makes it possible for customers to get safe and reliable utility services. The utility company said it "does not make a profit on customer rates."
Like many water utility systems throughout the country, Colorado Springs is in need of repair.
The water and wastewater rate increase is needed to pay for the following:
- system-wide infrastructure projects
- inflationary increases
- labor, benefits, and system maintenance
If approved, water rates will affect a typical bill:
- Residential: 7% increase, or $5.21 a month
- Commercial: 4.5% increase, or $10.44 a month
- Industrial: 4.4% increase, or $132.64 a month
If approved, waterwaste rates will affect a typical bill:
- Residential: 2.5% increase, or $0.84 a month
- Commercial: 9% increase, or $10.50 a month
- Industrial: 12% increase, or $175 a month
At this time, there will be no rate changes to electric or natural base rates, according to Colorado Springs Utilities.
A final vote on both items will be on Tuesday, Nov. 8.
Once approved, Colorado Springs Utilities said the proposed changes will take effect on Sunday, Jan. 1, 2023.
You can learn more about the proposed 2023 budget and base rates here.
