Title
A Resolution Setting the Electric Cost Adjustment Effective October 1, 2022
Presenter:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Scott Shirola, Pricing and Rates Manager, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective October 1, 2022. The proposed ECA rate adjustment changes the current effective rate of $0.0523 per kWh to the proposed rate of $0.0462 per kWh.
Background:
Utilities performs continuous monitoring of ECA with monthly updates provided to the Utilities Board.
Previous Council Action:
On June 28, 2022, City Council approved the ECA rate of $0.0523 per kWh by Resolution 85-22.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Electric bill:
Residential electric bill decrease of $4.27 or 3.9%
Commercial electric bill decrease of $36.60 or 4.8%
Industrial electric bill decrease of $2,440.00 or 5.4%
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Proposed Motion:
Move approval of the Resolution.
Summary of Ordinance Language
N/A