Title
A resolution setting the Gas Cost Adjustment effective
February 1, 2020
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 February 1, 2020. The proposed GCA rate adjustment changes the current effective rate of $0.1896 per Ccf to a proposed rate of $0.1243 per Ccf.
Background:
Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board.
Previous Council Action:
Enter On October 22, 2019, City Council approved the GCA rate effective November 1, 2019 by Resolution 105-19.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
Residential natural gas bill decrease of $3.92 or 10.8%
Commercial natural gas bill decrease of $80.97 or 16.1%
Industrial natural gas bill decrease of $809.72 or 16.8%
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