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File #: 19-524    Version: 1 Name:
Type: Resolution Status: Mayor's Office
File created: 8/22/2019 In control: City Council
On agenda: 10/22/2019 Final action: 10/22/2019
Title: A resolution setting the Gas Cost Adjustment effective November 1, 2019 Presenter: Scott Shewey, Acting Chief Planning and Finance Officer, Colorado Springs Utilities Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities Body Summary: Colorado Springs Utilities (Utilities) is proposing changes to the Gas Cost Adjustment (GCA) rate effective November 1, 2019. The proposed GCA rate adjustment changes the current effective rate of $0.1620 per Ccf to a proposed rate of $0.1896 per Ccf. Background: Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board. Previous Council Action: On July 23, 2019, City Council approved the GCA rate effective August 1, 2019 by Resolution 69-19. Financial Implications: Implementing the proposed rates will impact the respective customer's gas bill as follows: Sample Total Monthly Natural Gas bill: Residential gas bill increase of $1.66 or 4.8% Commercial gas bill in...
Attachments: 1. 10-22-2019 City Council Agenda-GCA Rate Adj Filing Packet, 2. 10-22-2019 CC Mtg-GCA Resolution, 3. Signed Resolution 105-19.pdf

 

Title

A resolution setting the Gas Cost Adjustment effective November 1, 2019

 

  Presenter: 

Scott Shewey, Acting Chief Planning and Finance Officer, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities

Body

  Summary:

Colorado Springs Utilities (Utilities) is proposing changes to the Gas Cost Adjustment (GCA) rate effective November 1, 2019. The proposed GCA rate adjustment changes the current effective rate of $0.1620 per Ccf to a proposed rate of $0.1896 per Ccf.

 

  Background: 

Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board.

  Previous Council Action:

On July 23, 2019, City Council approved the GCA rate effective August 1, 2019 by Resolution 69-19.

 

  Financial Implications:

Implementing the proposed rates will impact the respective customer’s gas bill as follows:
     Sample Total Monthly Natural Gas bill:
                               Residential gas bill increase of $1.66 or 4.8%
                     Commercial gas bill increase of $34.22 or 7.3%
                     Industrial gas bill increase of $342.24 or 7.6%

 

  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



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