(COLORADO SPRINGS) — The Colorado Springs City Council has approved the electric and natural gas rate decrease proposed by Colorado Springs Utilities (CSU) on Tuesday, Nov. 22.
CSU recommended the rate decrease in response to anticipated lower natural gas prices. Temperatures have been milder through the fall across the U.S. which has allowed for more gas storage which in turn has helped bring prices down.
According to CSU, the estimated savings are “$30 per month on the average residential bill.” The rate decrease will take effect beginning Dec. 1. In order to maximize energy savings, CSU recommends:
- Weatherstrip doors and windows to reduce the amount of air loss from your home.
- Change your furnace filter every 30 days and schedule a qualified contractor to perform an annual check-up.
- During winter, set your thermostat no higher than 68 degrees when home and 60 degrees when away or sleeping. Springs Utilities offers a $50 rebate for installing ENERGY STAR smart thermostats.
“Tools are available to help customers manage bills, such as budget billing. Payment assistance is available through COPE year-round. Assistance is available beginning in November from Low Income Energy Assistance Program (LEAP). Visit csu.org for more information,” CSU said.
CSU buys natural gas at lower rates when the demand is lower to pass on those savings to customers. The new rates will be effective a month earlier than expected and the next rate change will be effective Apr. 1, 2023.