Colorado Springs Utilities proposes to lower natural gas and electric rates

COLORADO SPRINGS, Colo. (KRDO) -- After multiple rate hikes, Colorado Springs Utilities customers might be getting some relief.

Wednesday, the utility company announced a proposal to lower utility bills by $30 a month. This comes just a week after the Colorado Springs City Council approved a water and waste-water rate increase. That is set to go into effect in January 2023.

According to Springs Utilities, the cost of natural gas decreasing worldwide created an opportunity for the utility company to offer savings to customers.

Colorado Springs Utilities proposed a 17-cent decrease in the rate of natural gas per 100 cubic feet, an almost 1-cent decrease in the electric rate per kilowatt hour.

City Council will hear the proposed rates at a Board Meeting on Wednesday.

If approved on Nov. 22, the new rates will be effective on Dec. 1, according to the utility company.

Bill impacts may vary depending on weather, household use, and other factors. Springs Utilities said it tends to be a high demand for natural gas usage during the winter months. Colorado Springs Utilities said residential bills may decrease by $29.71 per month on average.

How to manage heating costs, according to Colorado Springs Utilities:

• Reduce the amount of air loss from your home by stripping windows and doors.
• Change out your furnace filter every 30 days and schedule a qualified contractor to conduct an annual inspection.
• Set the thermostat no higher than 68 degrees when home and 60 degrees when away or sleeping. Colorado Springs Utilities offers a rebate for installing ENERGY STAR smart thermostats.