COLORADO SPRINGS — On Tuesday, Colorado Springs City Council approved a resolution that would reduce the cost of natural gas by about 21.3 percent for residential gas bills, which is $14.54 per month.
The new rate will be effective starting May 1.
According to City Council, the proposed resolution would also lower commercial natural gas bills by about 25.5 percent, which is $300.45.
Colorado Springs Utilities (CSU) says they are lowering the rates since they have "completed recovery of the $144 million in unexpected expenses from last year’s winter storm Uri."
Last year, natural gas prices hit their highest levels since 2014, causing utility bills to reach sky-high prices. However, back in February, Colorado Springs Utilities asked City Council to vote on lowering utility rates due to a milder winter season.
CSU also says peak months tend to be in December and January, and usage tends to be much lower in the summer.
Colorado Springs Utilities released the following chart with the new rates:
Several programs are in place to help customers, including:
- Customer assistance: LEAP, Project COPE and Energy Outreach Colorado.
- Flexible Payment Plans (one-time extensions and installment plans).
- Efficiency tips and rebates.
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