Colorado Springs City Council approves natural gas and electric rate decreases
COLORADO SPRINGS, Colo. (KRDO) -- Tuesday, the Colorado Springs City Council approved a proposed natural gas and electric rate decrease.
According to Colorado Springs Utilities, the electric rates will be 19% lower than average and natural gas would be 23% lower than average when compared to Front Range utilities.
Colorado Springs Utilities said the proposed energy rate decreases are in response to lower-than-expected costs for natural gas driven by increased U.S. supply and lower demand.
The utility company said individual customer bill impacts will vary depending on weather, household use, and home efficiency.
The new rates would be effective March 1:
- The electric cost adjustment is $0.0284. This change represents a decrease in the average monthly residential bill of about $7.49, or a 7.5% decrease.
- The natural gas cost adjustment is $0.3268. This change represents a monthly decrease on the average residential bill of about $16.44, or a 26% decrease.
The estimated impact would be a decrease of about $24 per month on the average residential bill.
