Feb 25, 2014 7:41 PM by Bill Folsom

Winter's punch pushes up Colorado Springs Utility rates

The punch from the harsh winter this year will soon hit the wallets of Colorado Springs Utility customers. "This is a supply and demand issue across the county," said Dave Grossman with Colorado Springs Utilities, "The extreme cold weather in the Midwest and eastern part of United States really created a huge amount of demand for natural gas, which has driven the wholesale costs way up." When it costs the utility provider more the expense passes through to the customer.

In 2012 and 2013 the city owned utility company went to city council for approval of rate decreases when natural gas prices went down. On Wednesday they requested and got approval from council for an increase to gas and electric rates. The electric rates are included because some generating plants run on natural gas.

Starting next month the natural gas rate goes up 3.6%. The increase for electricity is 2%. For the typical customer it amounts to an average increase of just over 3 dollars a month or about 37 dollars a year.



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