**Colorado Springs Utilities Proposes $2.2 Billion Budget for 2026, Citing Major Capital Projects**

**COLORADO SPRINGS, CO** – Colorado Springs Utilities (CSU) has proposed a $2.2 billion budget for 2026, a significant 23% increase from the current year, which will be presented to the Utilities Board for approval in October. The substantial budget growth is attributed to ongoing, large-scale Capital Improvement Projects planned through the end of the decade.

The proposed 2026 budget marks the second consecutive year of budget increases exceeding 20%. The $2.2 billion figure is up from the $1.8 billion budget for 2025, which itself was a 21% increase over the $1.5 billion budget in 2024.

According to Tristan Gearhart, CSU’s Chief Planning and Finance Officer, the primary driver for the increased spending is the utility’s Capital Improvement Projects. These projects are scheduled to continue through 2030, with CSU expecting to add approximately $4 billion in new assets to its system by that time.

While the 2026 budget proposal does not include a recommendation for a new rate increase, residents will still see their bills go up. A separate five-year rate increase plan, which was approved by the Colorado Springs City Council in November 2024, is already in effect. Under that existing plan, average residential customers can expect an estimated increase of $14.87 on their monthly bills in 2026. This reflects a 6.5% total increase across all non-fuel utility services.

The Utilities Board is scheduled to hold budget and rate case hearings on October 14, with a final vote on the proposed $2.2 billion budget slated for October 28.