Title
A resolution setting the Electric Cost Adjustment effective
November 1, 2018
Presenter:
Tamela Monroe, Chief Planning and Finance Officer
Aram Benyamin, P.E., Chief Executive Officer
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective November 1, 2018. The proposed ECA rate adjustment changes the current effective rate of $0.0201 per kWh to a proposed rate of $0.0223 per kWh.
Previous Council Action:
On July 24, 2018, City Council approved the current ECA rate of $0.0201 per kWh effective August 1, 2018 by Resolution 81-18.
Background:
Utilities sought approval for the current effective ECA rate of $0.0201 per kWh at the July 24, 2018 City Council meeting. Utilities’ staff provide regular updates to the Utilities Board and recommend 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 increase of $1.54 or 1.8%
Typical Commercial electric bill increase of $13.20 or 2.3%
Typical Industrial electric bill increase of $880.00 or 2.8%
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