(COLORADO SPRINGS) — Colorado Springs City Council voted on Tuesday, June 27 to approve energy rate decreases for Colorado Springs Utilities (Springs Utilities) customers that will go into effect July 1.

This is the third energy rate decrease since November of 2022, according to Springs Utilities. The decrease comes as the result of lower demand and greater natural gas supply nationwide.

Individual customer bill impacts would vary depending on weather, household use and home efficiency, Springs Utilities said, but the average household will see about an $8 per month decrease on their residential bill.

Springs Utilities said compared to last summer, residential customers will pay 15% less for electricity and 44% less for natural gas on a typical monthly bill, a savings of about $41/month compared to last year. 

The proposal set before City Council also included decreases in the electric and gas capacity charges, which are reviewed annually. The electric capacity charge covers the cost of delivering natural gas used for electric generation and delivery of purchased hydropower. The gas capacity charge covers the costs of transporting natural gas through pipelines to the community and the storage of it.

All decreases were factored into the sample residential bill resulting in the $8/month decrease.