The City Council has approved a $2.2 billion budget for 2026, marking a 23% increase from the previous year. The budget aims to fund key infrastructure projects across all four city services, focusing on maintaining reliability, meeting regulatory requirements, and supporting the city’s growth.
Despite the overall budget increase, officials clarified that customer bills will not rise by 23%. The majority of the additional spending is designated for capital projects and will be financed through bonds. The city’s strong credit ratings allow it to borrow at lower costs, which helps keep utility rates competitive.
The bonds are backed by a previously approved base-rate increase for 2026 of about 6.5%. This will result in an average bill increase of $14.87 per month for a typical residential customer using all four services. This adjustment is part of a five-year rate plan approved by the City Council in 2024, with similar increases expected through 2029.
The budget supports several major projects planned over the next four years. These include $618 million for the Horizon Utility Campus to add 400 megawatts of cleaner, reliable energy and storage; $253 million for expanding the fiber network to improve utility operations and provide citywide fiber internet; $130 million for the Kelker Substation Expansion to meet growing energy needs; $111 million for the Continental-Hoosier System Project to increase water storage; and $396 million for expanding the wastewater system.
The city’s five-year financial plan is designed to fund these investments while keeping utility rates competitive with other Front Range communities. Currently, the average residential customer pays about 6% less for utilities compared to neighboring providers.
“Our five-year financial plan provides a roadmap for funding these investments while maintaining rates that are competitive to other Front Range communities. Currently, our average four-service residential customer pays about 6% less for utilities compared to our neighboring utility providers.”
