Title
A resolution setting the Electric Cost Adjustment effective August 1, 2018
Presenter:
Sonya Thieme, Rates Manager
Eric Tharp, Acting Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective August 1, 2018. The proposed ECA rate adjustment changes the current effective rate of $0.0202 per kWh to a proposed rate of $0.0201 per kWh.
Previous Council Action:
On April 24, 2018, City Council approved the current ECA rate of $0.0202 per kWh effective May 1, 2018 by Resolution 33-18.
Background:
Utilities sought approval for the current effective ECA rate of $0.0202 per kWh at the April 24, 2018 City Council meeting. Utilities’ staff provides regular updates to the Utilities Board and recommends 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 Electric bill:
Typical Residential electric bill decrease of $0.07 or 0.1%
Typical Commercial electric bill decrease of $0.60 or 0.1%
Typical industrial electric bill decrease of $40.00 or 0.1%
Board/Commission Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move approval of the proposed resolution.
Summary of Ordinance Language
N/A