Title
A Resolution Setting the Gas Cost Adjustment Effective November 15, 2021
Presenter:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Gas Cost Adjustment (GCA) rate effective November 15, 2021. The proposed GCA rate adjustment changes the current effective rate of $0.5477 per Ccf to the proposed rate of $0.8130 per Ccf.
Background:
Utilities performs continuous monitoring of GCA with monthly updates provided to the Utilities Board.
Previous Council Action:
On March 9, 2021, City Council approved the GCA rate of $0.5477 per kWh by Resolution 37-21.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
Residential natural gas bill increase of $15.92 or 26.8%
Commercial natural gas bill increase of $328.97 or 32.9%
Industrial natural gas bill increase of $3,289.72 or 33.7%
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