In a new preliminary report released by Black Hills Energy, a company takeover could cost the City of Pueblo over one billion dollars. Black Hills Energy commissioned The Brattle Group, an independent consultant, for the study. According to the study, if the City of Pueblo took over the electric distribution system, it is estimated to cost $1.01 billion, which equates to each household paying "$270 more in year one and increasingly higher costs each following year." Our independent analysis estimates that the cost of taking over the Black Hills Energy distribution system would be in excess of one billion dollars and estimates that the ongoing annual operating costs to serve customers in Pueblo through the municipal ownership model would be higher in each year of the twenty-year study period. These findings should be studied carefully by customers, community leaders and elected officials to help determine whether a utility takeover attempt makes sense, given the high costs and risks.During a city council meeting on February 24, councilors voted 6-1 to have a special election that would allow constituents to decide on the following; "Should the City of Pueblo cancel its franchise agreement with Black Hills Electric and acquire the generation, transmission, and distribution assets of Black Hills Electric, if determined feasible?"If the measure passes, the city will terminate its contract with Black Hills Energy. Pueblo Mayor Heather Graham released the following statement about the report; "It's interesting to see Black Hills Energy commission a study that they claim is paid for with "company funds and not at the expense of customers" when ratepayers actually are the individuals paying for the study along with the nasty and untrue advertising campaigns seen across social media and on TV. The City of Pueblo is currently in the midst of our our own feasibility study, which outlines all options for electric utilities moving forwardnot just the idea of municipalization outlined by the study Black Hills Energy commissioned themselves. The City realizes that our decision affects more than just resident within City limits, which includes Pueblo County our neighbors in Pueblo West and potentially a much larger service areas like Canon City, Penrose, Florence, Cripple Creek and more." "Municipalization was the intention of the City in 2019, now the City of Pueblo is looking at multiple options like a co-op or an alternative utility company purchasing the assets from Black Hills. At the end of the day, we know that Black Hills Energy is interested in the pocketbooks of their investors, not in the pocketbooks of their ratepayers, or in this case our Pueblo residents."____Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching. ...read more read less