Title
Public Hearing for the Consideration of Resolutions Regarding Certain Changes to Utilities Rules and Regulations and Setting Electric, Natural Gas and Water Rates Within the Service Areas of Colorado Springs Utilities
Body
From:
Jerry Forte, CEO, Colorado Springs Utilities
Summary:
Colorado Springs Utilities requests City Council reserve time on the November 24, 2015 agenda for the public hearing to consider changes reflected in the 2016 Rate Case Filing to its Utilities Rules and Regulations and the Electric, Natural Gas and Water Rate Schedules including certain rates to be effective January 1, 2016.
Previous Council Action:
On September 22, 2015 City Council approved the proposed Public Hearing Date of November 24, 2015 for the Consideration of Resolutions regarding certain changes to Utilities Rules and Regulations and setting Electric, Natural Gas and Water rates within the service areas of Colorado Springs Utilities.
Background:
Colorado Springs Utilities submitted a 2016 Rate Case Filing on September 22, 2105 that included proposed changes to Utilities Rules and Regulations and the Electric, Natural Gas and Water Rate Schedules to be effective January 1, 2016. Colorado Springs Utilities uses a Cash-Needs method to determine the total Revenue Requirement. This approach is based upon the fact that Colorado Springs Utilities must set rates to recover sufficient revenues to cover all of its cash needs, including debt service obligations and a portion of new capital projects. A major advantage of this technique, often used by government-owned enterprises, is the consistency with budgeting and accounting system used by these entities.
The rate case filing, including the resolutions and all supporting documentation, was made on September 22, 2015. Copies were provided to City Council members, and were made available for public inspection in the City Clerk's office. A pdf file version was also placed on Colorado Sp...
Click here for full text