Title
A Resolution Setting the Electric Cost Adjustment and Industrial Service - Large Power and Light Supply Credit Rates 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 Electric Cost Adjustment (ECA)
and Industrial Service - Large Power and Light (ELG) Supply Credit rates effective February 1, 2020. The proposed ECA rate adjustment changes the current effective rate of $0.0195 per kWh to a proposed rate of $0.0185 per kWh. The proposed ELG Supply Credit adjustment changes the current effective credit rate of $(0.0026) per kWh to a proposed rate of $(0.0022) 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 October 22, 2019, City Council approved the ECA and ELG Supply Credit rates effective November 1, 2019 by Resolution 104-19.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Electric bill:
Residential electric bill decrease of $0.70 or 0.8%
Commercial electric bill decrease of $6.00 or 1.1%
Industrial electric bill decrease of $400.00 or 1.3%
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