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CFU Board Approves 2023 Utility Rates

Posted on Tuesday, November 29, 2022

CFU Board Approves 2023 Utility Rates

The Cedar Falls Utilities Board of Trustees recently approved utility rates for 2023. Customers will see adjustments to electric, natural gas, water and TV rates. Prices for internet and phone service plans will stay the same.

Electric

The Electric Utility will adjust rates for customers next year. Overall, the changes will result in a 3% increase in the Utility’s revenues. 

An average residential customer will see an increase of $1.83 per month. The rate change will keep pace with a rise in operating and equipment costs. 

Natural Gas

Natural gas base rates will increase in 2023. An average residential gas customer will pay $1.92 more per month. Overall, base rates will increase 8%. The rate change is necessary due to increased operating costs and planned system improvements such as the installation of new gas mains. 

CFU cautions customers that higher natural gas market prices are expected this year. Higher energy costs do not affect CFU’s base rates, which are set by the Board of Trustees and include infrastructure and administrative costs. Learn more here.

Water

The Water Utility will also adjust rates for most customers next year. An average residential customer will see an increase of $2.25 per month. Overall, the base rate increase averages 9.5%. The rate increase will help fund water main replacements in conjunction with significant street reconstruction projects.

Internet, Phone & TV

Prices for internet and phone service plans will not increase in 2023. CFU has been able to keep internet rates steady for seven years, while making significant investments in our community’s broadband infrastructure. 

CFU TV customers will see an increase of $2 or $6 per month, depending upon their service plan. TV rates must be adjusted to keep pace with the increase in fees CFU pays to network owners.

Rate changes take effect in January. For a schedule of all 2023 rates and fees, please call CFU at 319-268-5280 or visit cfu.net/terms.