Goals set for future energy plan; public survey now open

Published: 10/17/2019  10:20 AM
​Work on our Electric and Natural Gas Integrated Resource Plans (IRPs) continues as planning goals were established thanks to public input. The Electric and Natural Gas IRPs will consider many views of the future to help determine how we will best ...

Make the most of your fallen leaves

Published: 10/10/2019  8:23 AM
Every year, I look forward to when the trees in my yard turn beautiful shades of yellow, orange and red. But I know what’s next--a thick layer of leaves on my lawn that must be dealt with. Not exactly my idea of a fun autumn afternoon. Luckily, a ...

It's Public Natural Gas Week - A reminder of how both employees and customers help keep our natural gas system safe

Published: 10/8/2019  4:53 PM
​This year, October 6-12 is Public Natural Gas Week, a time when communities such as ours give recognition to one of their most valuable community assets—their publicly owned natural gas utility. At Colorado Springs Utilities, our natural gas emplo ...

Customer Service Week - The Magic of Serving You

Published: 10/8/2019  4:22 PM
​October 7-11 is Customer Service Week, an international celebration of the importance of customer service and of the people who serve and support customers on a daily basis. In 1992, the U.S. Congress proclaimed Customer Service Week a nationally r ...

10 fall tips to use energy and water wisely

Published: 10/2/2019  3:41 PM
​October is Energy Action Month, a time to encourage the community to contribute to sustainability efforts by learning more about energy efficiency and practicing smarter energy use. As the cooler months approach, consider our low-cost or no-cost ti ...

​Public Power: Rich history and bright future

Published: 10/1/2019  4:24 PM
Our early citizens understood the value of public power ownership, voting in 1924 to create their own municipal utility. Today, public power is as relevant and valuable as it was nearly 100 years ago. Colorado Springs Utilities is one of nearly 2,0 ...

Colorado Springs Utilities' Office of Economic Development wins ​Downtown Partnership Star Award

Published: 9/30/2019  11:20 AM
The Downtown Partnership, a nonprofit organization, with a robust membership base of businesses, nonprofits and individuals representing the diversity of industries Downtown and citywide, honored three outstanding contributors to the economic, civic ...

More public electric vehicle chargers thanks to grant

Published: 9/24/2019  8:16 AM
We recently installed four Level II electric vehicle chargers at four of our facilities thanks to funding from a Charge Ahead Colorado grant. The chargers expands the community’s electric vehicle charging network for our customers and employees. Th ...

Construction of two new solar projects progresses

Published: 9/24/2019  8:14 AM
​By the end of this year, we will add enough solar energy to our system to power 35,000 homes annually thanks to two projects currently under construction. The Palmer Solar Project, located southeast of Colorado Springs, and the Grazing Yak Solar P ...

Four fall tips to brighten your landscape

Published: 9/9/2019  9:34 AM
​After Labor Day, many landscapes may look dull, especially if most of the flowering plants bloom in early summer. Fortunately, September is a wonderful month to add a few more plants to your landscape. The soil is warm and the air temperatures have ...

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Credit rating increase benefits all customers   

Tamela Monroe  by  Tamela Monroe, Chief Planning & Finance Officer  on  5/30/2019

Credit ScoresColorado Springs Utilities customers have something new to cheer about: this week S&P Global Ratings (Standard & Poor’s) issued a credit upgrade for Springs Utilities from AA to AA+.

Why should our customers care? Because our “credit score” went up, this will result in improved investor interest in our bonds and lower interest rates when we issue new bonds.

This rating upgrade makes a significant statement about the work being done at Colorado Springs Utilities. It is the result of fiscal responsibility while delivering operational excellence. We control costs by making prudent business decisions. The utility’s financial plan, commitment to financial discipline and metrics were major factors in the rating increase.

To better serve our growing customer base, we are thinking differently, becoming more creative and embracing new technologies. Part of S&P’s decision to upgrade us was based on our plans to reduce our reliance on coal generation resources.

We continue to demonstrate our commitment to solar energy and battery storage. We will take our renewable energy mix from 11 percent of our generation to more than 20 percent by 2024 allowing us to power more than 75,000 homes annually with solar energy.

Standard & Poor’s also noted our very strong service area economic fundamentals, reflecting our large, primarily residential and diverse customer base. Our financial policies and practices are also very strong. These include regularly-updated strategic plans, multi-year capital planning and financial forecasts, and an automatic power cost adjustment mechanism.

I’m thrilled to serve as the Chief Planning & Finance Officer of an organization that is innovative, adaptive and leads the utilities industry across the board. While our city continues to grow, we will be right there with it, strengthening our financial metrics even more. Because ensuring ratepayers’ money is being used responsibly and wisely for the benefit of the entire community is at the heart of everything we do. 

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Wednesday, June 26, 2019  2:48 PM  H. E. Miller

I note that you have several variable rate bonds that should benefit immediately from the upgrade. Any thought to refinancing fixed rate debt?

Monday, August 19, 2019  7:02 PM  David Lugg

We continually monitor financial market conditions for opportunities to improve our debt portfolio. The Standard & Poor’s credit upgrade to “AA+ Stable” is a positive development for us and our debt portfolio. We normally issue fixed rate debt with a 10-year call option. When debt becomes callable, we consider any refunding opportunity that is advantageous to our customers and meets our financial risk management parameters.

Monday, August 26, 2019  3:07 PM  Eric