Title
A Resolution Setting the Gas Cost Adjustment effective February 1, 2021
Presenter:
Scott Shewey, Chief Planning and Finance Officer, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing changes to the Gas Cost Adjustment (GCA) rate effective February 1, 2021. The proposed GCA rate adjustment changes the current effective rate of $0.2426 per Ccf to a proposed rate of $0.1812 per Ccf.
Background:
Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board.
Previous Council Action:
On October 27, 2020, City Council approved the GCA rate effective November 1, 2020 by Resolution 92-90.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
Residential natural gas bill decrease of $3.69 or 9.0%
Commercial natural gas bill decrease of $76.13 or 12.3%
Industrial natural gas bill decrease of $761.36 or 12.7%
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move adoption of the proposed resolution.
Summary of Ordinance Language
N/A