(COLORADO SPRINGS) — On Tuesday, March 26 Colorado Springs City Council voted to approve a proposed electric rate decrease from Colorado Springs Utilities (Springs Utilities).

On Wednesday, March 20, Springs Utilities proposed to City Council a rate decrease in response to lower-than-expected costs for natural gas caused by increased supply and lower demand. It will be the fourth natural gas rate decrease passed since March 2023. The changes will go into effect on Monday, April 1.

City Council also approved a small increase in two separate charges, the electric and natural gas capacity charges, which are adjusted once a year.

Springs Utilities said the decrease would lead to a reduction of about $1.50 per month on the average home bill. Commercial bills would be reduced by about $26 per month and $1,488 per month on industrial bills.

Springs Utilities said as a non-profit, community-owned utility the changes in fuel costs up or down are passed on to the customer quarterly. Compared to other Front Range utilities, Springs Utilities’ electric rates are 15% lower than average, and natural gas is 36% lower, according to Springs Utilities.