Title
A Resolution Setting the Electric Capacity Charge and Green Power Service Rates Effective July 1, 2023
Presenter:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Travas Deal, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Capacity Charge (ECC) and Green Power Service rates effective July 1, 2023. The proposed ECC adjustments change rates by Rate Class consistent with capacity allocations (per attached ECC Schedule 1). To reflect the current cost, Utilities proposes changing the current Green Power Service rate of $0.0342 per kWh to $0.0349 per kWh.
Background:
Utilities performs continuous monitoring of fuel related rates with monthly updates provided to the Utilities Board.
Previous Council Action:
On February 28, 2023, City Council approved the Green Power rate of $0.0342 per kWh by Resolution 27-23 and on June 28, 2022, City Council approved the ECC rates by Resolution 85-22.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Electric bill:
Residential electric bill decrease of $0.14 or 0.2%
Commercial electric bill decrease of $0.60 or 0.1%
Industrial electric bill decrease of $160.00 or 0.5%
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