Colorado residents seem to be cutting back for the long haul with their yard watering, following the advice by Denver Water for conservation efforts in the face of the abated drought. Good news, right?
Well, yeah. Unless you’re Denver Water, who’s operating in the red because, well, folks are using less water.
Water sales this year are likely to fall $8 million short of Denver Water’s projections, thanks to conservation efforts by customers. Water revenues are expected to be $125 million, down from an anticipated $133 million.
The news means Denver residents are taking the drought seriously, but it could also mean the utility will sell less water over the long term and may have to find new ways to finance major projects, according to Denver Water finance director David Reference.
Swelp me, if they raise our water rates because of this …
During the next six weeks the water board will look at ways to restructure its water rates and its water tap fees to make up for the loss of water revenue.
Swell.