(COLORADO SPRINGS) — Colorado Springs Utilities will propose an increase to the natural gas fuel rates at the Utilities Board meeting on Wednesday, March 19.

On Wednesday at 1 p.m., the board will propose an increase to gas fuel rates in response to rising market costs for natural gas coming out of the winter season.

Individual customer bill impacts vary depending on weather, household use, and home efficiency. The estimated impact would be an increase of about $6.47 per month on the average residential bill. Gas prices have increased heading into the spring months as liquefied natural gas exports rise, and U.S. storage is 12% below the 5-year average for this time of year according to Springs Utilities.

Fuel prices fluctuate quarterly and are driven by market costs. Springs Utilities passes along fuel rates increases or decreases four times a year, typically in January, April, July, and October.

If approved by the City Council at their March 25 meeting, the new rates would be effective April 1.