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File #: 20-543    Version: 1 Name:
Type: Resolution Status: Mayor's Office
File created: 9/14/2020 In control: City Council
On agenda: 10/27/2020 Final action: 10/27/2020
Title: A Resolution Setting the Electric Cost Adjustment and Industrial Service - Large Power and Light Supply Credit Rates effective November 1, 2020 Presenter: Scott Shewey, Chief Planning and Finance Officer, Colorado Springs Utilities Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Attachments: 1. 10-27-2020 CC Mtg-ECA Resolution, 2. ECA Sheet 2.9 E Rate Tbl - Final, 3. ECA Sheet 2.9 E Rate Tbl - Redline, 4. 09-2020 ECA Schedule 1, 5. 10-27-2020 CC ECA-GCA, 6. Signed Resolution 93-20.pdf

 

Title

A Resolution Setting the Electric Cost Adjustment and Industrial Service - Large Power and Light Supply Credit Rates effective November 1, 2020

 

 Presenter: 

Scott Shewey, 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 November 1, 2020.  The proposed ECA rate adjustment changes the current effective rate of $0.0185 per kWh to a proposed rate of $0.0232 per kWh.  The proposed ELG Supply Credit adjustment changes the current effective credit rate of $(0.0014) per kWh to a proposed rate of $(0.0010) 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:

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.

  Financial Implications:

Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Electric bill:
         
                     Residential electric bill increase of $3.29 or 3.8%
                     Commercial electric bill increase of $28.20 or 5.1%
                     Industrial electric bill increase of $1,880.00 or 6.0%

 

  City Council Appointed Board/Commission/Committee Recommendation:

N/A

 

  Stakeholder Process:

N/A

 

  Alternatives:

N/A

 

Recommended Action

  Proposed Motion:

N/A

 

Summary of Ordinance Language

N/A




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