Colorado Springs Utilities intends to fund capital projects with rate increases

[ad_1]

COLORADO SPRINGS — Leadership at Colorado Springs Utilities (CSU) says their budget is $1.8 billion, which is 21% more than this year's budget. CSU also says they plan to add about $3.9 billion in infrastructure projects over the next five years.

Because of this, the company is proposing a base rate increase of about $14 a month for the average residential customer next year, with additional similar increases every year through 2029.

The final vote on the budget will be next month. If approved, the rate increase will take effect on January 1, 2025.

Part of the base rate increase is to fund capital projects.

"Money is more of concern than it ever has been," sais Dave Niemann, a community member. "I think it's going to impact everyone. Not just folks like us who are on a fixed income, (but) young families, (and) young people. Our... paychecks cannot keep up with it."

CSU says the capital projects make up about one third of their proposed budget.

"The biggest threat would be if we don't meet regulatory requirement, the state can actually shut down," said Tristan Gerhart, Chief Financial Officer of CSU.

Gearhart says the city is growing fast, and it needs a better wastewater system in place.

"Our existing wastewater system right now has a capacity up until 2027 or 2028… and we are out of the capacity," said Gearhart.

As the city grows, people need more water. Another goal is to expand the Montgomery Reservoir.

"Raising the reservoir will allow us to store more of inner mountain water, which helps our community," said Gearhart.

CSU also wants to build a new natural gas generation station to create cleaner energy for the city, which will cost $600 million to $700 million.

Niemann says he understands the importance of the projects, but paying more expensive bills is tough.

"Please stop," said Niemann "Slow down, think about what you are doing. Think about all the folks who live here."

To learn more about the capital projects, visit CSU's website.

___

No Recent Violations at Mollie Kathleen Gold Mine Records Show

Decades of state inspection reports for the Mollie Kathleen Gold Mine Tour in Cripple Creek show the mine had complied with state requirements in the years following a cease and desist order that shut down the mine in 1987.

Cripple Creek gold mine inspection records show no recent violations, lengthy safety reports in 1980s

News Tips

What should KOAA5 cover? Is there a story, topic, or issue we should revisit? Have a story you believe should make the light of day? Let our newsroom know with the contact form below.

____

Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.

[ad_1]

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=6718477376944a4b8b362e50f78d5756&url=https%3A%2F%2Fwww.koaa.com%2Fnews%2Fcovering-colorado%2Fcolorado-springs-utilities-intends-to-fund-capital-projects-with-rate-increases&c=16435187416753095304&mkt=en-us Author : Publish date : 2024-10-22 13:32:00 Copyright for syndicated content belongs to the linked Source .

Colorado Springs Utilities intends to fund capital projects with rate increases

What do tickets cost to see Coldplay on their 2025 North American tour?

Arkansas health officials encourage vaccines for flu and COVID-19

Arkansas health officials encourage vaccines for flu and COVID-19

Once Upon a Time: The U.S. Consulate in Martinique – American Foreign Service Association

Dominican Republic detains pregnant Haitian women in hospital swoop – BBC

The CELAC Presidency from Honduras to Colombia in the Tertulias of The Diplomat – thediplomatinspain.com

US Secretary Of State Marco Rubio To Arrive In Jamaica Today – RJR News

US lowers tariffs on 2 French overseas territories as Wall Street struggles in Trump era – Firstpost

Nicaragua Travel Guide – Travel + Leisure

Messi, Argentina lose 2-1 to Paraguay in World Cup qualifier: Here’s what it means – USA Today

Joe Biden loses to Xi Jinping in battle for Latin America – Financial Times

US top diplomat Rubio to visit Jamaica, Guyana and Suriname this week – Yahoo

Trinidad and Tobago declares state of emergency amid deadly gang violence – France 24

Categories

Archives