Title
A Resolution Setting the Electric Cost Adjustment Effective November 15, 2021
Presenter:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective November 15, 2021. The proposed ECA rate adjustment changes the current effective rate of $0.0294 per kWh to the proposed rate of $0.0474 per kWh.
Background:
Utilities performs continuous monitoring of ECA with monthly updates provided to the Utilities Board.
Previous Council Action:
On March 23, 2021, City Council approved the ECA rate of $0.0294 per kWh by Resolution 50-21.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Electric bill:
Residential electric bill increase of $12.60 or 13.5%
Commercial electric bill increase of $108.00 or 17.4%
Industrial electric bill increase of $7,200.00 or 20.2%
City Council Appointed Board/Commission/Committee 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