Title
Resolution Setting the Gas Cost Adjustment Effective January 15, 2024.
Presenter:
Travas Deal, Chief Executive Officer, Colorado Springs Utilities
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Gas Cost Adjustment (GCA) rate effective January 15, 2024. The proposed GCA rate adjustment changes the current effective rate of $0.2308 per Ccf to the proposed rate of $0.1238 per Ccf.
Background:
Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board.
Previous Council Action:
On June 27, 2023, City Council approved the GCA rate effective July 1, 2023 by Resolution 93-23.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s sample bill:
Residential natural gas bill decrease of $6.42 or 15.6%; total monthly bill decrease of 2.5%
Commercial natural gas bill decrease of $132.68 or 22.4%; total monthly bill decrease of 8.3%
Industrial natural gas bill decrease of $1,326.80 or 23.2%; total monthly bill decrease of 2.8%
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move approval of the Resolution.
Summary of Ordinance Language
N/A