Title
A Resolution Setting the Gas Cost Adjustment and Gas Capacity Charge Rates Effective April 1, 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) and the Gas Capacity Charge (GCC) rates effective April 1, 2024. The proposed GCA rate adjustment changes the current rate of $0.1238 per Ccf to $0.0810 per Ccf. The proposed GCC adjustments change rates by Rate Class consistent with capacity allocations (per attached GCC Worksheets and Industrial Service - Interruptible Prescheduled GCC Worksheets).
Background:
Utilities performs continuous monitoring of fuel related rates with monthly updates provided to the Utilities Board.
Previous Council Action:
On January 9, 2024, City Council approved the GCA rate of $0.1238 per Ccf by Resolution 01-24, and on June 27, 2023, City Council approved the GCC rates by Resolution 93-23.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
Residential natural gas bill decrease of $0.06 or 0.2%
Commercial natural gas bill decrease of $8.80 or 1.9%
Industrial natural gas bill decrease of $88.04 or 2.0%
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