Photo by Helen Robinson
Look for your natural gas and electric rates to take a hike in March and April, respectively, after the historically abnormal deep freeze of two weeks ago forced Colorado Springs Utilities to buy gas from outside sources as demand soared and supply sank.
Utilities Finance Committee was briefed Feb. 24 about the impacts of the widespread below-zero temperatures in mid-February that plunged Texas into a black-out that froze pipes and knocked out power and gas to millions.
Here, the impact wasn t as bad, because Springs Utilities had pre-arranged contracts for gas, as well as gas in storage, to rely on. But it still had to compete for part of its gas and power supply on the open market.