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Mild winter could mean lower rates for Colorado Springs Utilities customers

Colorado Springs Utilities
Colorado Springs Utilities(KKTV)
Published: Jan. 4, 2022 at 5:52 PM MST
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COLORADO SPRINGS, Colo. (KKTV) - The Chief Planning and Financial Officer with Colorado Springs Utilities says relief could be around the corner for customers following two rate increases in 2021.

11 News has reported Colorado Springs Utilities voted unanimously in early November to raise the Colorado Spring Utilities natural gas and electric rates, due to an increase in natural gas prices across the country. Click here for more background and sample bill examples on the rate increase that was approved in November. Colorado Springs Utilities has been reporting this latest increase was expected to be short-term, and the utility company had some good news to share at the start of 2022.

“What we have seen since we put those November increases in, is a little more mild of a winter than what was predicted for the November and December time frame,” Tristan Gearhart the Chief Planning and Financial Officer with Colorado Springs Utilities explained. “So there has been less cold-weather days that have been out there so we’ve seen a greater supply of natural gas out there which takes a little bit of the pressure off the price and we seem just a little bit lower prices than our gas forecast.”

The utility company examines gas costs every quarter, and the forecast for the upcoming six months is looking good for customers. '

“We are still waiting for all the actual numbers from December to kind of come in over the next week as we receive the information we will get the forecast put in the place we will see exactly what those decreases need to be for February,” Gearhart added. “But at this point in time we are expecting that.”

If the forecast stays true, Colorado Springs Utilities will propose a rate decrease to the Board on Jan. 19, if passed, the Colorado Springs City Council will take the decrease into consideration and either vote to approve or deny it. It isn’t clear how much of a rate decrease customers could see, but Colorado Springs Utilities expects to have a better idea by next week.

Gearhart wanted to make sure anyone having issues paying their utility bill was aware of assistance programs that are available. If you need guidance on where you can receive help with managing your Colorado Springs Utilities bill, you can call 719-448-4800.

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