EL PASO COUNTY, Colo. (KRDO) — City Council approved an increase to electric and natural gas costs adjustments on Tuesday. The residential sample bill will increase $11.35 (5%) per month, effective Nov. 1. According to Colorado Springs Utilities (CSU), natural gas prices have increased across the country.
The utilities company clarifies that energy costs fluctuate, and changes in fuel costs – up or down – are passed directly on to customers. CSU adds, “While we monitor fuel costs monthly, we usually ask for any necessary adjustments quarterly.”
Adjustments are based on a “look back” of the previously forecasted fuel costs and a “look ahead” at projections for the next quarter.
Monthly sample residential bill increase: $11.35 or 5%Monthly sample commercial bill increase: 14.6% or $194.60Monthly sample industrial bill increase: 8.9% or $3,544.08
You can see an estimate of your cost increase by using CSU’s online bill calculator HERE.
Here’s a look into this year’s previous rate changes for fuel costs for a residential connection through CSU:
Feb 1, 2020 decrease of $4.62 per monthApril 1, 2020 decrease of $2.52 per monthMay 1, 2020 decrease of $3.03 per monthAug 1, 2020 increase of $5.80 per month
Contributing to these changes is the increase in fuel prices, which affects utilities nationwide.
CSU writes, “Following several years of abundant natural gas supply, 2020 brought a decrease in production related to the pandemic. Also impacting fuel prices this year are the economic impacts resulting from the Russia-Saudi Arabia oil price war. It drove oil prices sharply down in the spring and led to lower domestic oil and associated gas production.”
Colorado Springs / Local News / News