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Springs Utilities: High Probability Rates Will Go Up

By: KKTV
By: KKTV

Colorado Springs Utilities says they hope utility rates won

MGN Online

Colorado Springs Utilities says they hope utility rates won't go up because of the Drake power plant fire, but there is a high probability that they will.

The city is running three power plants right now, but will still have to buy power from a third party to keep the city going.

Colorado Springs Utilities board member Andy Pico says Springs Utilities already has agreements in place so they can purchase power from a third party, if needed.

In fact, a spokesman for utilities says the city already purchases power from those sources. However, 11 News has learned the cost is significantly higher.

It costs between four and six cents per kilowatt hour to buy power from a third party. That's higher than the two cents per kilowatt hour it costs to produce power at the Drake plant, which runs on coal.

KKTV 11 News is asking questions to find out when customers might expect those rate increases, if they come.


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