BOULDER, Colo. (CBS4)– Boulder’s city council has taken the next step toward creating their own utility.

The city council voted to move forward with efforts to acquire assets from Xcel Energy, including power lines and substations.

The council also gave voters an opportunity to set an upper limit of $214 million on key costs.

The City of Boulder said its model shows it can increase renewable energy by 50 percent, cut emissions in half and still have lower rates.

If approved by voters, the $214 million limit would be in addition to existing charter provisions that require the city to meet specific financial, service delivery and environmental requirements before issuing debt.

The election is Nov. 5.


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