Utilities officials still studying ratepayer impact of Issue 300

Colorado Springs Utilities officials said Wednesday they still are determining when rate-payers will see an impact from Issue 300.

The Douglas Bruce-sponsored ballot measure requires payments in lieu of taxes to the city to be phased out over eight years, beginning in July 2010, and the money returned to rate payers. The payments are designed to compensate the city for tax revenue it would receive if Utilities were privately owned.

That amounts to more than $3 million in 2010. According to the city clerk’s analysis of the ballot measure, residential bills would drop 52 cents each month, beginning in January 2010.

Utilities spokesman Steve Berry said Wednesday officials still are compiling the 2010 budget. It will be presented to the Utilities Board – made up of city council members – Nov. 18, and he said Utilities will have a better idea of the rate impact then.