Title
A resolution setting the Electric Cost Adjustment, Electric Capacity Charge and Industrial Service - Large Power and Light Supply Credit effective August 1, 2020
Presenter:
Scott Shewey, Acting Chief Planning and Finance Officer, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities is proposing changes to the Electric Cost Adjustment (ECA), Electric Capacity Charge (ECC) and Industrial Service - Large Power and Light (ELG) Supply Credit rates effective August 1, 2020. The proposed ECA rate adjustment changes the current effective rate of $0.0149 per kWh to a proposed rate of $0.0185 per kWh. The proposed ECC adjustments change rates by Rate Class consistent with capacity allocations (per attached Schedule 2). The proposed ELG Supply Credit adjustment changes the current effective credit rate of $(0.0018) per kWh to a proposed rate of $(0.0014) per kWh.
Background:
Colorado Springs Utilities' staff provide regular updates to the Utilities Board and recommends timely adjustments per the Cost Adjustment Guidelines consistent with tariffs.
Previous Council Action:
On July 23, 2019 City Council approved the ECC rates effective August 1, 2019 by Resolution 68-19. On March 24, 2020 City Council approved the ECA rate of $0.0149 per kWh and the ELG Supply Credit rate of $(0.0018) per kWh effective April 1, 2020 by Resolution 22-20.
Financial Implications:
Implementing the proposed rates will impact the respective customer's electric bill as follows:
Sample Total Monthly Electric bill:
Residential electric bill increase of $2.24 or 2.7%
Commercial electric bill increase of $19.80 or 3.7%
Industrial electric bill increase of $1,400.00 or 4.7%
City Council Appointed Board/Commission/Committee Recommendation:
Enter Board, Commission, or Committee recommendation. Enter N/A if not applicable.
Stakeholder Process:
N/A
Alternatives:
N...
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