COLORADO SPRINGS, Colo. (KKTV) – Colorado Springs City Council has approved a rate decrease for electric fuel rates. Colorado Springs Utilities says this will lower the average residential customer’s bill by $1.54 per month. This is set to take effect on October 1.
CSU says it has saved about $7 million since they joined the Southwest Power Pool in April and is now able to pass on some of that savings to customers.
This comes after the utilities board advanced the decision to city council last week.
This is not a decrease to base rates. Those are typically updated yearly and fund system maintenance, infrastructure investments, customer programs, and more, according to CSU.
CSU said fuel rates reflect changes in fuel costs and can go up or down throughout the year.
This is a developing story and will be updated throughout the day.
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