Title
A resolution setting the Electric Cost Adjustment effective
May 1, 2019
Presenter:
Tamela Monroe, Chief Planning and Finance Officer
Aram Benyamin, Chief Executive Officer
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective May 1, 2019. The proposed ECA rate adjustment changes the current effective rate of $0.0245 per kWh to a proposed rate of $0.0209 per kWh.
Previous Council Action:
On January 22, 2019, City Council approved the current ECA rate of $0.0245 per kWh effective February 1, 2019 by Resolution 11-19.
Background:
Utilities sought approval for the current effective ECA rate of $0.0245 per kWh at the January 22, 2019 City Council meeting. Utilities’ staff provide regular updates to the Utilities Board and recommend timely adjustments to the ECA rate per the Cost Adjustment Guidelines and in conformance with the ECA tariff.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s electric bill as follows:
Monthly Typical Electric bill:
Residential electric bill decrease of $2.52 or 2.8%
Commercial electric bill decrease of $21.60 or 3.6%
Industrial electric bill decrease of $1,440.00 or 4.3%
Board/Commission Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
Approve proposed cost adjustment or provide alternative directions
Recommended Action
Proposed Motion:
Move approval of the proposed resolution.
Summary of Ordinance Language
N/A