Title
A Resolution setting the Gas Cost Adjustment effective May 1, 2020
Presenter:
Scott Shewey, Acting Chief Planning and Finance Officer
Body
Summary:
Colorado Springs Utilities (Springs Utilities) is proposing changes to the Gas Cost Adjustment (GCA) rate effective May 1, 2020. The proposed GCA rate adjustment changes the current effective rate of $0.1243 per Ccf to a proposed rate of $0.0738 per Ccf.
Background:
Springs Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board.
Previous Council Action:
On January 28, 2020, City Council approved the GCA rate effective February 1, 2020 by Resolution 6-20.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
Residential natural gas bill decrease of $3.03 or 9.4%
Commercial natural gas bill decrease of $62.62 or 14.8%
Industrial natural gas bill decrease of $626.20 or 15.6%
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