Title
A resolution setting the Electric Cost Adjustment effective May 1, 2018
Presenter:
Sonya Thieme, Rates Manager, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective May 1, 2018. The proposed ECA adjustment changes the current effective rate of $0.0220 per kWh to a proposed rate of $0.0202 per kWh.
Previous Council Action:
On October 24, 2017, City Council approved the current ECA rate of $0.0220 per kWh effective November 1, 2017 by Resolution 114-17.
Background:
Utilities sought approval for the current effective ECA rate of $0.0220 per kWh at the October 24, 2017 City Council meeting. The ECA rate has remained at the approved level since November 1, 2017. Utilities’ staff continues to provide regular updates to the Utilities Board and will recommend timely adjustments to the ECA rate per the Cost Adjustment Guidelines. ECA rate calculations are in conformance with the ECA tariff.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s electric bill as follows:
Monthly Electric bill:
Typical Residential electric bill decrease of $1.26 or 1.4%
Typical Commercial electric bill decrease of $10.80 or 1.9%
Typical industrial electric bill decrease of $720.00 or 2.2%.
Board/Commission Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Adopt the resolution as proposed.
Summary of Ordinance Language
N/A