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File #: 24-474    Version: Name:
Type: Informational Report Status: Mayor's Office
File created: 8/20/2024 In control: City Council
On agenda: 9/24/2024 Final action: 9/24/2024
Title: A Resolution Setting the Electric Cost Adjustment Rate Effective October 1, 2024 Presenter: Travas Deal, Chief Executive Officer, Colorado Springs Utilities Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Attachments: 1. 2- 09-24-2024 CC Mtg-ECA Resolution, 2. 3- E Sheet 2.9 Rate Tbl - 25th Revised - Redline, 3. 4- E Sheet 2.9 Rate Tbl - 25th Revised - Final, 4. 5- ECA Worksheet, 5. 09-23-24 09-24 -24 CC ECA-GCA.pdf, 6. Signed Resolution No. 117-24.pdf

 

Title

A Resolution Setting the Electric Cost Adjustment Rate Effective October 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 Electric Cost Adjustment (ECA) rate effective October 1, 2024.  The proposed ECA rate adjustment changes the current rate of $0.0255 per kWh to $0.0301 per kWh.

 

  Background: 

Utilities performs continuous monitoring of fuel related rates with monthly updates provided to the Utilities Board.

  Previous Council Action:

On March 26, 2024, City Council approved the ECA rate of $0.0255 per kWh by Resolution 27-24.

 

  Financial Implications:

Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Electric bill:
                               Residential electric bill increase of $3.22 or 3.3%
                     Commercial electric bill increase of $27.60 or 4.5%
                     Industrial electric bill increase of $1,840.00 or 5.2%

 

  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



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