City of Colorado Springs
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File #: 20-026    Version: 1 Name:
Type: Resolution Status: Mayor's Office
File created: 1/6/2020 In control: City Council
On agenda: 1/28/2020 Final action: 1/28/2020
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
Attachments: 1. 2 - 01-28-2020 CC Mtg-ECA Resolution, 2. 3 - Sheet 2.9 E Rate Tbl - Redline, 3. 4 - Sheet 2.9 E Rate Tbl - Final, 4. 5 - ECA Schedule 1, 5. Signed Resolution 5-20.pdf

 

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