As energy prices continue to rise, many Colorado families are feeling increased pressure to make ends meet.
Lower- and middle-income families represent 43 percent of Colorado households and take home an average $2,000 per month – making their budgets especially tight. And when electric prices increase, there will be less money for housing, food, health care and other necessities. They will have to figure out where they can cut costs somewhere else.
See how this affects families like yours:
After paying taxes, the Jones family takes home about $1,900 a month. This makes them a lower- or middle-income family in Colorado.
They live in the San Louis Valley in southwest Colorado. Right now, they count on electricity to help keep their house cool and to power the irrigation on their potato farm.
Their monthly budget includes things like rent, groceries, medications and occasionally some school supplies for their two kids. If the cost of electricity rises, one of these other basic necessities gets squeezed out.
Exacerbating the issue is the Environmental Protection Agency’s proposed carbon rules, which are projected to increase electricity prices in Colorado by at least 15 percent.
This increase could mean that little Janie might not be able to afford her binders and notebooks when school starts next month or that Mrs. Jones will have to cut back on next month’s grocery shopping, while Mr. Jones skips an appointment with a doctor for chronic pain.
Family budgets are already spread too thin. Given all it does for us, electricity remains a great value – but Coloradans can’t afford to see drastic, regulation-driven increases in energy prices.
To learn more, take a look at the graphic below. See a larger version of this infographic.