Have you noticed your utility bill going up each year?
The price of coal and natural gas has risen sharply since the end of World War II. In addition, many of our country’s existing coal and natural gas power plants are nearing the end of their 50-year life expectancies. These older power plants are more expensive to maintain and operate, and they will require costly replacements in future years, putting even more pressure on prices.
Colorado Springs relies on coal for the majority of its electricity generation, a factor considered by many analysts as a risk because of the probability of national climate change legislation that will increase the cost of burning coal. Not only does this put Colorado Springs residents at risk of increasing electric prices in coming years, but it may also have an effect on our credit rating and on the cost of financing our debt.
Our 300 days of sunshine per year makes Colorado Springs one of the best places in the country for solar energy. For the first time, with SunShare, the choice of whether we use coal or solar is ours.