PUEBLO — The Colorado Public Utilities Commission (PUC) has finally approved a rate increase proposed by Black Hills Energy, in July 2024.
However, it's not the agreement Black Hills Energy thought it would be.
The company's original proposal was an 18% increase or an "annual revenue increase of approximately $37 million" over eight years. The rate increase would have increased rates for all customers, including residential and commercial.
After backlash from the affected customers and several public meetings to discuss the increase, Black Hills Energy adjusted its request to reflect an annual increase of $25 million, which was approximately 32% less than the initial proposal.
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The PUC says that this increase would have raised the average residential electric bill by $15 per month.
As a result, the PUC has approved an increase of $17 million a year, which will increase monthly bills by approximately $7 per month. There will not be an increase in the Fixed Monthly Customer Charge, and the General Rate Schedule Adjustment (GRSA) will be removed.
The rate changes are expected to go into effect on Saturday, March 22, 2025.
There has also been a change to the Time of Use rates, which will allow all customers to opt-in to On-Peak hours between 5:00 p.m. and 8:00 p.m.
A final order was filed by the PUC on Monday, March 17.
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