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File #: 22-113    Version: 1 Name:
Type: Resolution Status: Mayor's Office
File created: 2/8/2022 In control: City Council
On agenda: 4/26/2022 Final action: 4/26/2022
Title: A Resolution Setting the Gas Cost Adjustment Effective May 1, 2022 Presenter: Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities Summary: Colorado Springs Utilities (Utilities) is proposing a change to the Gas Cost Adjustment (GCA) rate effective May 1, 2022. The proposed GCA rate adjustment changes the current effective rate of $0.6928 per Ccf to the proposed rate of $0.4505 per Ccf. Background: Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board. Previous Council Action: On January 25, 2022, City Council approved the GCA rate of $0.6928 per Ccf by Resolution 13-22. Financial Implications: Implementing the proposed rates will impact the respective customer's Sample Total Monthly Natural Gas bill: Residential natural gas bill decrease of $14.54 or 21.3% Commercial natural gas bill decrease of $300.45 or 25.5...
Attachments: 1. 04-26-2022 CC Mtg-GCA Resolution, 2. G Sheet 2.4 Rate Tbl - 17th Revised_Redline, 3. G Sheet 2.4 Rate Tbl - 17th Revised_Final, 4. Schedule 1 - GCA, 5. Signed Resolution No. 59-22

 

 

Title

A Resolution Setting the Gas Cost Adjustment Effective May 1, 2022

 

  Presenter: 

Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities

 

  Summary:

Colorado Springs Utilities (Utilities) is proposing a change to the Gas Cost Adjustment (GCA) rate effective May 1, 2022.  The proposed GCA rate adjustment changes the current effective rate of $0.6928 per Ccf to the proposed rate of $0.4505 per Ccf.

 

  Background: 

Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board.

  Previous Council Action:

On January 25, 2022, City Council approved the GCA rate of $0.6928 per Ccf by Resolution 13-22.

 

  Financial Implications:

Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
                               Residential natural gas bill decrease of $14.54 or 21.3%
                     Commercial natural gas bill decrease of $300.45 or 25.5%
                     Industrial natural gas bill decrease of $3,004.52 or 26.0%

 

  City Council Appointed Board/Commission/Committee Recommendation:

N/A

 

  Stakeholder Process:

N/A

 

  Alternatives:

N/A

Action

  Proposed Motion:

Move adoption of the proposed resolution.

 

Summary of Ordinance Language

N/A



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