(COLORADO SPRINGS) —Colorado Springs Utilities (Springs Utilities) will begin implementing its Energy Wise Metering system starting Wednesday, Oct. 1, affecting all customers by the beginning of next year.
The new metering system will adjust energy costs based on supply and demand, encouraging customers to plan their usage of high-energy appliances during off-peak hours.
“Right now, about 50% of those customers would save probably around $4 a month, and about 50% of the customers would see about a $4 a month increase to their bills,” said Tristan Gearhart, CFO of Springs Utilities.
Energy Wise Metering will introduce variable rates depending on the time of day, with peak hours set from 5 to 9 p.m. on weekdays when energy costs are higher.
Gearhart explained that numerous factors determine peak hours, including the number of people using energy and the types of devices in use. Off-peak hours, which account for about 88% of the year, will offer lower rates for running high-usage items like air conditioning units and clothes dryers.
Springs Utilities provides an appliance calculator to help customers estimate the cost of running different appliances during on and off-peak times.
Customers have the option to choose between a flat seasonal rate, which adjusts only in summer and winter, and a critical peak pricing plan, which offers lower costs during certain times but higher costs during critical peak events.
An open house will be held on Tuesday, Oct. 7 from 5 p.m. to 7 p.m. for customers to ask questions about the new rates.
With the transition to Energy Wise Metering, Springs Utilities aims to promote energy efficiency and cost savings for its customers. The upcoming open house will provide an opportunity for residents to learn more and address any concerns about the new system.
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