Colorado Springs Utilities is proposing a budget for next year that would clear $2 billion with a 6.5% rate increase for customers, which would raise the average monthly bill by $14.87.

The utility's Board of Directors gave preliminary approval to the proposed budget Wednesday, with the City Council expected to vote on the budget in October.

The $2.23 billion budget proposal would increase spending by more than 20%, the second year in a row in which the budget would grow by over one-fifth. If approved, the utility's spending will have more than doubled since 2020, when the city approved a utility budget of $954 million.

Utilities Chief Financial Officer Tristan Gearhart said the spending increases were largely driven by long-term capital projects that the utility is pursuing to handle t

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