Title
A Resolution Setting the Gas Cost Adjustment 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 Gas Cost Adjustment (GCA) rate effective November 1, 2020. The proposed GCA rate adjustment changes the current effective rate of $0.1084 per Ccf to a proposed rate of $0.2426 per Ccf.
Background:
Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board.
Previous Council Action:
On July 28, 2020, City Council approved the GCA rate effective August 1, 2020 by Resolution 57-20.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
Residential natural gas bill increase of $8.06 or 24.6%
Commercial natural gas bill increase of $166.40 or 38.4%
Industrial natural gas bill increase of $1,664.08 or 40.4%
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