Colorado Springs Utilities warns customers about bill increase as natural gas prices soar

News

(File/Getty)

COLORADO SPRINGS, Colo. — Colorado Springs Utilities (CSU) is warning customers about a possible electric bill increase as natural gas prices continue to rise.

In a Facebook post, CSU wrote “Due to the rise in natural gas prices globally, the Utilities Board today discussed proposed increases to natural gas and electric rates. If approved by City Council on Oct. 26, the increase on a sample residential bill will be approx. $28.52 per month starting Nov. 1.”

It is important to note that individual bills will vary depending on customers’ use. However, the city council is expected to vote on the adjustments on Oct. 26 for a Nov. 1 implementation.

Sample bill impacts, courtesy of CSU, can be found below.

Courtesy of Colorado Springs Utilities (CSU)

According to CSU, natural gas prices are almost 100% higher than this time last year because of supply concerns and rising demand.

As a non-profit, community-owned utility, CSU passes changes in fuel costs—up or down—directly on to its customers. While it monitors fuel costs monthly, it says it asks for natural gas and electric cost adjustments (GCA and ECA) quarterly. 

Adjustments are based on a “look back” of the previously forecasted fuel costs and a “look ahead” at projections for the next quarter. 

CSU has listed several programs meant to help customers with the price increase.

“We do what we can to protect our customers from fuel price increases,” CSU wrote on its website. “We benefit from natural gas pricing available through our long-term contracts, we use natural gas from storage and our propane air plant to stretch supplies.”

To contact CSU, click here.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Local Stories

More Local