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