Each year we compile our budget for review and approval by City Council with a focus on competitive utility rates; safe, reliable service; and outstanding customer experiences.
The utility industry is quickly changing, and we are working to meet increasing demands and evolving operational practices. More than a quarter of our 2021 budget approved by City Council today is dedicated to capital projects, including:
- Smart meter installations to provide added functionality in years to come.
- Initiatives that support sustainable energy goals the and retirement of the Martin Drake Power Plant.
- Dam repairs and new water storage projects to meet the water needs of our growing community.
The $1.1 billion budget is 16 percent higher ($160.2 million) than the approved 2020 budget of $954 million.
City Council also approved a slight increase to the 2021 natural gas base rates to fund upgrades to the natural gas system. This is the first natural gas base rate increase since 2014.
We are proactively identifying and upgrading, replacing or repairing any deficient materials in the natural gas system. About 14,000 steel service lines will be replaced with plastic lines to take our system to the highest standard of reliability.
Here’s a look at the impact of the natural gas increases in a sample four service total bill:
- Residential sample bill increases $0.22 or 0.1% per month
- Commercial sample bill increases $21.08 or 1.6% per month
- Industrial increases $210.80 or 0.5% per month
Our rates are based on the costs associated to serve our customers. We provide services to about 740,000 utility meters for multiple services, representing approximately 470,000 customers (in Colorado Springs and surrounding areas including Manitou Springs, Cascade, Fountain and Green Mountain Falls).
We’re committed to responsibly managing our budget, and helping customers learn about the variety of programs in place to assist with their utility bills. Learn about water and energy rebates on efficient products, and customer programs for payment assistance.
