Title
A Resolution Setting the Gas Cost Adjustment and Gas Capacity Charge 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 Gas Cost Adjustment (GCA) and the Gas Capacity Charge (GCC) rates effective July 1, 2023. The proposed GCA rate adjustment changes the current rate of $0.3268 per Ccf to $0.2308 per Ccf. The proposed GCC adjustments change rates by Rate Class consistent with capacity allocations (per attached GCC Schedule 1 & 2).
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 GCA rate of $0.3268 per Ccf by Resolution 26-23 and on June 28, 2022, City Council approved the GCC rates by Resolution 84-22.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
Residential natural gas bill decrease of $7.54 or 16.2%
Commercial natural gas bill decrease of $154.51 or 21.2%
Industrial natural gas bill decrease of $1,545.04 or 21.8%
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