Springs City Council Approves Rate Decrease

MGN Online

Electric rates will be going down a little in Colorado Springs.

Rates went up after the Drake Power Plant fire in May to pay for the replacement power while the plant was shut down.

Recently crews have been able to get one of Drake's units online.

Since Unit 6 is supplying some power, Colorado Springs Utilities decided to lower rates, a decision City Council supported unanimously on Tuesday.

Work has already started to get another unit online.

11 News asked Springs Utilities' CEO what customers can expect then.

"We fully anticipate approximately another 50 percent reduction in that electric cost adjustment increase that was put into place a little over a month ago," said Jerry Forte.

For now, families' bills will drop by 2.2 percent, or about $1.68, on their monthly bill.

Commercial customers will see a 3 percent drop.

The new rates go into effect on July 11.

Crews expect to finish repairs on Unit 7 in the fall.