COLORADO SPRINGS, Colo. (KOAA) — Colorado Springs Utilities (CSU) will be presenting its 2026 budget to the Utilities Board on Wednesday for approval.
CSU says that the 2026 budget is an estimated $2.2 billion, that is a 23% increase from the 2025 budget. For context, the 2025 budget, which was estimated $1.8 billion, had already seen a 21% increase compared to the utility providers' 2024 budget of $1.5 billion.
Watch Our One-on-One Conversation with Tristan Gearhart, Chief Planning and Finance Officer with CSU, as We Discussed the Increase and Why it Happened
The large increase, CSU attributes this to Capital Improvement Projects that will continue through 2030, with an expected 4 billion dollars in assets to be added by then.
Colorado Springs Utilities says this 2026 budget will not come with a rate increase recommendation. Viewers would remember that the Utilities Board or Colorado Springs City Council approved a 5-year rate increase plan in November of 2024.
Watch Our Previous Coverage From When The Five-Year Utility Base Rate Increase Was Approved
The five-year rate increase was a 6.5% increase in total for all non-fuel utility bills to help accomplish the capital improvement projects. This amounts to an estimated $14.87 increase for the average residential customer bill in 2026.
Despite no base rate increase, CSU is proposing a 2026 rate case to the utility board. The next steps in the process will include the budget and rate case hearings scheduled with the City Council for October 14 and a final vote on October 28.
News5's Owen Skornik-Hayes had the opportunity to sit down with Tristan Gearhart, Chief Planning and Finance Officer for CSU Wednesday and will have a full conversation with him in this article and on News6 at 6.
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