Title
A Resolution setting the Gas Cost Adjustment effective February 1, 2019
Presenter:
Tamela Monroe, Chief Planning and Finance Officer
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Gas Cost Adjustment (GCA) rate effective February 1, 2019. The proposed GCA rate adjustment changes the current effective rate of $0.2047 per Ccf to a proposed rate of $0.3034 per Ccf.
Previous Council Action:
On October 23, 2018, City Council approved the current GCA rate of $0.2047 per Ccf effective November 1, 2018 Resolution 116-18.
Background:
Utilities sought approval for the current effective GCA rate of $0.2047 per Ccf at the October 23, 2018 City Council meeting. Utilities’ staff provide regular updates to the Utilities Board and recommend timely adjustments to the GCA rate per the Cost Adjustment Guidelines and in conformance with the GCA tariff.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s gas bill as follows:
Monthly Gas bill:
Typical Residential gas bill increase of $5.92 or 14.9%
Typical Commercial gas bill increase of $122.39 or 21.7%
Typical industrial gas bill increase of $1,223.88 or 22.5%
Board/Commission Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move adoption of the proposed resolution.
Summary of Ordinance Language
N/A