COLORADO SPRINGS, Colo.—Colorado Springs residents and businesses could face hefty rate increases for electricity, natural gas and water starting in February.
The city-owned utility said Tuesday that residential customers will likely pay a combined rate increase of 23 percent. Commercial customers are facing a 27 percent increase and large industrial users face a 16 percent jump.
The utility says the increases are tentative and may change. The proposal will go before the City Council in December.
Utility CEO Jerry Forte says the increases are due to higher costs for natural gas and coal, the increased cost of pumping water and building pipelines, and a downturn in local development that has hurt utility revenues.
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Information from: The Gazette,
