Fort Collins Utility Rates Might Increase in 2020
Bad news for the Fort Collins community...electricity rates are expected to rise by about 5% in 2020.
According to The Coloradoan, City Council is recommending the increase as Fort Collins' Light and Power utility struggles to keep up with higher operating costs.
If approved, the price hike would raise residents' average monthly utility bills by almost $4. City Council would also increase storm water rates by 2%. Water and wastewater services would not change.
The electric rate changes for commercial customers would vary due to differing rate classes; however, the changes are predicted to fall between .4 and 4.4%.
According to a city memo, rates can help "increase operating revenues enough to offset operating expenses." The proposed rate changes are a result of shifts in the electricity rate structure of the Platte River Power Authority.
This is not the first time that City Council has raised rates. Fort Collins experienced a previous 5% rate hike in 2018.
The City Council will consider these utility increases today (October 15), and look into other ordinances regarding Fort Collins' budget for 2020.
If council members follow through with the recommendations, the city's overall budget for next year would increase by about $4.7 million.
For more information on how to attend or watch the meeting, visit fcgov.com.