Water wiser this summer

Published: 5/6/2020  9:45 AM
​May is the perfect month to nail down your summer watering strategy and program your sprinkler system to deliver the right amount of water to your plants. By watering wisely, your lawn and landscape will thrive. Using water wisely means using it f ...

Demand Control Strategies During Load Step Changes

Published: 4/30/2020  9:43 AM
​Energy management isn’t always about energy, but it is always about dollars. For some business customers, demand charges dominate the bill, especially when large demands occur for short periods of time. When short-term demands are increasing deman ...

Work progresses on long-term energy plans, selection to occur this summer

Published: 4/24/2020  6:10 PM
​These unprecedented times have drastically changed our daily lives. While we continue to address the challenges associated with COVID-19, our top priority is the delivery of safe and reliable utility services. To better serve you in the future, we ...

Deal named Chief Energy Services Officer

Published: 4/22/2020  11:02 AM
Colorado Springs Utilities CEO Aram Benyamin recently named Travas Deal as Chief Energy Services Officer. Deal joined Colorado Springs Utilities in 2017 as Field Services Manager and was quickly recognized for his management expertise and knowledge ...

More help in sight for small businesses as Colorado Springs Utilities contributes $92,500 to Survive & Thrive COS

Published: 4/16/2020  2:50 PM
​Relief for Colorado Springs small businesses impacted by the COVID-19 outbreak is earning another infusion of financial support, with Colorado Springs Utilities contributing $92,500 to the Survive & Thrive COS recovery fund. The decision to ex ...

Pandemic or not, April is a busy season for digging and the locators who make our landscaping projects possible

Published: 4/16/2020  9:41 AM
​With the weather getting warmer and a worldwide pandemic confining many of us to our homes, spring landscaping projects are likely in full swing. Chances are these projects will require digging, either with a shovel or something more powerful. So, ...

Reducing our carbon footprint with more solar energy

Published: 4/14/2020  2:28 PM
Even as we address challenges associated with COVID-19, work continues to support our Energy Vision. Today we celebrate the commissioning of our latest renewable energy project called Palmer Solar. Take a bird's eye view of the project. We'll purc ...

Giving back to the community: Help with housing

Published: 4/8/2020  9:09 AM
During this difficult time that no one could have ever predicted, we’ve all been doing the best we can just to get by. The coronavirus pandemic has affected every aspect of our lives: from the way we interact with others (or don’t) to our jobs, scho ...

Protecting critical utility workers

Published: 4/3/2020  12:48 PM
​Like you, we are closely monitoring and responding to the growing health crisis. Our top priority is to continue delivering essential utility services to our community. To do this, we are making sure our employees remain healthy, safe and secure.  ...

​​​​Providing reliable service in uncertain times

Published: 3/31/2020  2:35 PM
As we continue to respond to the worldwide coronavirus outbreak, I want to update you on what we’ve been doing to achieve our mission of delivering safe and reliable utility services. Nothing is more important to me than the health and safety of our ...

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Credit rating increase benefits all customers   

  by  Natalie W.  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.

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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Add a comment



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