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Electric rate increases would kick in within six years if City Council, acting as the Colorado Springs Utilities Board, speeds up the scheduled closing of the Martin Drake Power Plant by 10 years.
As it stands, the board has decided to close the coal-fired downtown plant by 2035, but some board members want to hasten the closing to 2025. Under financial forecasts made by Utilities staff and provided to the board Nov. 21, the additional cost to ratepayers for that early closing would range up to $820 million. If the closing is sped up by five years, to 2030, the additional cost would be up to $520 million.
The costs are associated with building a new power plant, expanding the Birdsall Power Plant on North Nevada Avenue or buying power from another provider. Advocates for closing Drake cite the need to move to renewable energy and make the site available for lower downtown development.
Get involved via a telephone town hall from 6 to 7:30 p.m. Wednesday, Nov. 29, or an open town hall meeting from 6 to 7:30 p.m. on Tuesday, Dec. 5, at City Hall, 107 N. Nevada Ave. For more details, visit csu.org.