Title
A resolution setting the Electric Cost Adjustment effective February 1, 2019
Presenter:
Tamela Monroe, Chief Planning and Finance Manager
Aram Benyamin, Chief Executive Officer
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective February 1, 2019. The proposed ECA rate adjustment changes the current effective rate of $0.0223 per kWh to a proposed rate of $0.0245 per kWh.
Previous Council Action:
On October 23, 2018, City Council approved the current ECA rate of $0.0223 per kWh effective November 1, 2018 by Resolution 115-18.
Background:
Utilities sought approval for the current effective ECA rate of $0.0223 per kWh at the October 23, 2018 City Council meeting. Utilities’ staff provide regular updates to the Utilities Board and recommend timely adjustments to the ECA rate per the Cost Adjustment Guidelines and in conformance with the ECA tariff.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s electric bill as follows:
Monthly Electric bill:
Typical Residential electric bill increase of $1.54 or 1.7%
Typical Commercial electric bill increase of $13.20 or 2.3%
Typical industrial electric bill increase of $880.00 or 2.7%
Board/Commission Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move approval of the proposed resolution.
Summary of Ordinance Language
N/A