How will pumped storage and HB-11-1083 affect utility rates in Colorado?
Pumped storage is expensive to build. HB1083 allows those costs to be passed along to Colorado residents and business as higher utility rates. The primary purpose of pumped storage is store energy so that it can be sold at higher rates, adding further to electricity costs. Only the project developers, TransCanada and the power companies benefit from HB1083. There is no benefit returned to the people or businesses of Colorado who pay for it.