Title
A Resolution Setting the Gas Cost Adjustment Rate Effective April 1, 2025
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 April 1, 2025. The proposed GCA rate adjustment changes the current rate of $0.1725 per Ccf to $0.2804 per Ccf.
Background:
Utilities staff perform continuous monitoring of fuel related rates with monthly updates provided to the Utilities Board.
Previous Council Action:
On September 24, 2024, City Council approved the GCA rate of $0.1725 per Ccf by Resolution 116-24.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
Residential natural gas bill increase of $6.47 or 15.8%
Commercial natural gas bill increase of $133.80 or 23.1%
Industrial natural gas bill increase of $1,337.96 or 24.0%
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Approve a Resolution Setting the Gas Cost Adjustment Rate Effective April 1, 2025
Summary of Ordinance Language
N/A