CENTRAL SPRINGS, Colo. (KOAA) — Colorado Springs Utilities is switching from summer to winter electricity pricing today, bringing a nearly 50% drop in on-peak electricity rates for residents and businesses across the city.
The utility provider says the average residential customer pays about five percent less on electricity during winter months. The on-peak rate — the premium customers pay during high-demand hours — drops from 29 cents in the summer to 15 cents in the winter. On-peak hours will continue to run weekdays from 5 to 9 p.m.
The rate change applies to homeowners, renters, and business owners alike.
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The timing comes as many Colorado Springs residents are already feeling squeezed. Gas prices are straining budgets, and grocery bills remain elevated.
"Every day I go to the grocery store and I realize that from a year ago my bills have jumped 50%, possibly 30%, you know, and that it weighs on me," Kevin Smith said.
Despite those pressures, Smith, a homeowner in the Papeton neighborhood, said the lower utility rates signal that Colorado Springs Utilities understands what its customers are going through.
"It feels like Colorado Springs Utilities is reading the room and understanding that affordability is affecting all of us," Smith said.
Renter Andy Dolan has also felt the weight of rising utility costs. He said he has had to adjust his daily routine to keep his bills in check.
"We unplugged the microwave we used to use, um, just because we weren't using it," Dolan said.
Each month, the arrival of a utility bill brings its own kind of anxiety.
"Every month, it's kind of like, oh I hope it's not gonna go over what we can afford," Dolan said.
While the lower winter rate is a step in the right direction, Dolan said he wants to see the savings on an actual bill before he gets his hopes up.
"I'll believe it when I see it. I just don't think it's going to go down enough to where I'm going to be like, oh, great. Now, I get some extra money to get groceries for me and my father," Dolan said.
He's also already thinking about what happens when summer rolls back around.
"They might cut it down for the winter months, which, yeah, that's great, but if you're just going to jack it back up in the summer when we really need it, I just don't see how it's going to help your average citizen," Dolan said.
Business owners are also in line for relief.
Aubrey Day, co-owner of Bread and Butter Neighborhood Market, said the seasonal drop in rates is especially welcome after a difficult summer. The store's coolers run 24 hours a day, 7 days a week — and the summer heat meant frequent, costly repair calls just to keep food cold.
"We had a lot of repair issues and having to have our guy constantly come out and work on them just to keep the food cool with the hot temperatures and so in that way we also are always happy about the cooler weather because it's just easier on our equipment as well, so it's a, it's a double bonus. You get the cooler weather and the lower rates that's helpful for us," Day said.
Day said the market's utility bill ran between $1,400 and $1,600 per month during the summer.
"We have pretty high usage here and that's part of running a business like this," Day said.
Even for those with far lower monthly bills, or at least lower than $1,000 a month, any savings are a welcome sight.
"When I see savings anywhere, especially from our utility company, I'm appreciative," Smith said.
