Colorado Springs Utilities outlines five-year capital plan, Horizon generation project and new 'Energy Wise' rates

Travis Steele, chief executive officer of Colorado Springs Utilities, outlined the utility's five-year capital and rate plan — including a proposed 400-megawatt natural-gas generation project at the Horizon Utility Campus, additional battery storage, and investments in water and wastewater infrastructure — in a recent interview on the Beyond the Deus podcast.

Steele said the package, developed as a five-year rate case, is intended to fund long-term capital projects so the utility can meet rising demand across Colorado Springs and El Paso County while avoiding year-to-year contractor price inflation. "We're building another 400 megawatts of natural gas generation," Steele said, adding that the utility is also adding battery storage and continuing water and wastewater investments.

Why it matters: Steele said Colorado Springs Utilities must plan years ahead because generation, water and wastewater projects take multiple years to complete. He told host Scott Anderson that the utility's footprint includes roughly 268,000 electric meters and that peak demand in the service area is about 1,000 megawatts — meaning a 400-megawatt project would be a major addition to local capacity.

Steele described the five-year rate case as a capital-first funding approach. "These projects, you don't start and stop," he said. He said the rate plan is intended mainly to create predictable funding for large, multi-year projects — such as new generation, reservoirs and wastewater expansions — rather than to include unrelated items.

Horizon project and generation mix: Steele discussed the Horizon Utility Campus as part of a diversified generation strategy. He described the planned plant as "dual served" natural-gas generation that can react quickly and provide high reliability while the utility also expands battery storage and other resources. He noted that existing plants in the utility's fleet are aging and that new capacity must arrive well before older plants are retired.

On nuclear energy, Steele said the utility continues to evaluate options and that "nuclear is now considered a clean energy resource in the state of Colorado," which factors into long-range planning.

Energy Wise rates: Steele explained the city council-approved Energy Wise electric rate structure, a time-of-use model similar to tiers already used for water. "What this does is allows those individuals who can utilize energy differently in those lower cost times, can actually save money," he said. He added that customers who cannot shift usage will have alternative, flatter rate options. Steele said the utility will undertake customer education before the structure goes live in 2026.

Customer programs and governance: Steele described Project COPE and other assistance avenues and urged customers who are struggling to contact the utility's customer service center for help. He emphasized that Colorado Springs Utilities is a municipal utility overseen by the Colorado Springs City Council and said that local elected oversight brings a direct customer voice to rate and policy decisions.

Event and outreach: Steele noted that Colorado Springs Utilities plans public outreach, including a free "State of the Utility" event on June 25 and materials on the utility website (csu.org), and encouraged customers to learn about conservation and rebates that can lower household energy costs.

Steele summarized the utility's approach as focused on reliability, diversification and long-term planning. "You can't wait till you need it. We gotta be ahead," he said.

The interview was conducted by Scott Anderson on the Beyond the Deus podcast. No formal votes or governing-board actions were recorded in the interview; Steele described plans and policies under consideration or already approved through the utility's rate-setting process and city oversight.