May 15, 2014 5:48 PM by David Randall

Colorado Springs Utilities wants to raise rates following plant fire

COLORADO SPRINGS - Until the Martin Drake Power Plant is operational again, customers may have to pay more for their power.  According to Colorado Springs Utilities, the Drake Power Plant provided nearly one-third of the power to Colorado Springs.  That electricity will now have to come from more expensive sources, at a cost of an estimated $3 million per month.  To cover that extra cost, CSU wants to increase the average residential bill by 7.4 percent, and commercial bills by 10-11 percent.  

Insurance coverage is expected to cover the cost to repair the power plant, but won't pay for replacement power.

Colorado Springs Utilities will submit their request at the May 27, 2014 City Council meeting.  

If approved, the increase would go into effect June 1, 2014.

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