(COLORADO SPRINGS) — Colorado Springs Utilities (CSU) is proposing utility rate increases for 2023 to support infrastructure improvements.
On Tuesday, Oct. 25 CSU and Colorado Springs City Council will meet to discuss the proposed 2023 budget and the base rates for utility customers. CSU said that base rates support the pipes, wires, and plants that make it possible to provide safe, reliable utility services.
CSU is a community-owned, municipal utility, and does not make a profit on customer rates, and because of that, rates are based on the costs associated to serve customers. They state that their proposed rate increases will go toward funding for utility projects such as; smart meters, replacing aging water mains, and rebuilding and refurbishing water tanks.
CSU’s proposed rate increases:
Residential: 7% or about $5.21 a month
Commercial: 4.5% or about $10.44 a month
Industrial: 4.4% or about $132.64 a month
Residential: 2.5% or about $.84 a month
Commercial: 9% or about $10.50 a month
Industrial: 12% or about $175 a month
There are no rate changes to standard electric rates. There are proposed changes to Green Power subscribers and residential customers enrolled in the time-of-day electric option.
There is no proposed change for gas base rates.
The 2023 proposed budget for CSU is $1.6 billion, a 26.3% increase from the 2022 budget. CSU said their proposed budget was developed with the hopes of properly serving customers with competitive rates, along with safe, reliable service, and outstanding customer experiences.
City Council will make final votes on the budget and rate increases on Tuesday, Nov. 8, and if approved, rate changes would take effect on Jan. 1, 2023.