Tuesday, October 29, 2019

Colorado Springs Utilities asking for bigger budget

Posted By on Tue, Oct 29, 2019 at 5:42 PM

  • Courtesy Colorado Springs Utilities

Colorado Springs Utilities CEO Aram Benyamin proposed a 2020 budget of $954.4 million, which is $17.9 million higher than the current year’s budget.

The increase stems from rising fuel and purchased power costs and a larger transfer to the city — $36.1 million, 7.3 percent more than this year’s $33.7 million — in “surplus” revenue, which was formerly labeled a payment in lieu of taxes. Council is slated to approve the budget on Nov. 12.

On Oct. 22, Council voted 8-0, with Wayne Williams absent, to raise electric and natural gas rates. Effective Nov. 1, the rate hikes add $1.80 a month to a typical residential customer’s bill, $35.42 to a commercial bill, and $422.24 to an industrial bill.

Utilities plans water and wastewater rate increases, effective Jan. 1, that would drive up the typical residential bill by $5.71 a month, a commercial bill by $7.90, and an industrial bill by $99.55.

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