Title
A resolution setting the Electric Cost Adjustment and Industrial Service - Large Power and Light Supply Credit effective November 1, 2019
Presenter:
Scott Shewey, Acting Chief Planning and Finance Officer
Aram Benyamin, Chief Executive Officer
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing changes to the Electric Cost Adjustment (ECA)
and Industrial Service - Large Power and Light (ELG) Supply Credit rates effective November 1, 2019. The proposed ECA rate adjustment changes the current effective rate of $0.0193 per kWh to a proposed rate of $0.0195 per kWh. The proposed ELG Supply Credit adjustment changes the current effective credit rate of $(0.0030) per kWh to a proposed rate of $(0.0026) per kWh.
Background:
Utilities performs continuous monitoring of ECA with monthly updates provided to the Utilities Board. In July 2019, Utilities Board directed a phased-in reduction to the ELG Supply Credit.
Previous Council Action:
On July 23, 2019, City Council approved the ECA and ELG Supply Credit rates effective August 1, 2019 by Resolution 68-19.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s electric bill as follows:
Sample Total Monthly Electric bill:
Residential electric bill increase of $0.14 or 0.2%
Commercial electric bill increase of $1.20 or 0.2%
Industrial electric bill increase of $80.00 or 0.3%
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move adoption of the proposed resolution.
Summary of Ordinance Language
N/A