Title
A Resolution Setting the Electric Cost Adjustment, Industrial Service - Large Power and Light Supply Credit and Electric Capacity Charge Rates Effective July 1, 2022
Presenter:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Summary:
Colorado Springs Utilities is proposing changes to the Electric Cost Adjustment (ECA), Electric Capacity Charge (ECC) and Industrial Service - Large Power and Light (ELG) Supply Credit rates effective July 1, 2022. The proposed ECA rate adjustment changes the current effective rate of $0.0364 per kWh to a proposed rate of $0.0523 per kWh. The proposed ECC adjustments change rates by Rate Class consistent with capacity allocations (per attached Schedule 1). The proposed ELG Supply Credit adjustment changes the current effective credit rate of $(0.0006) per kWh to a proposed rate of $(0.0000) per kWh.
Background:
Colorado Springs Utilities' staff provide regular updates to the Utilities Board and recommends timely adjustments per the Cost Adjustment Guidelines consistent with tariffs.
Previous Council Action:
On January 26, 2021, City Council approved the ELG Supply Credit rate of $(0.0006) and ECC rates effective February 1, 2021, by Resolution 14-21. On January 25, 2022, City Council approved the ECA rate of $0.0364 per kWh by Resolution 14-22.
Financial Implications:
Implementing the proposed rates will impact the respective customer's Sample Total Monthly Electric bill:
Residential electric bill increase of $11.27 or 11.5%
Commercial electric bill increase of $97.80 or 14.8%
Industrial electric bill increase of $6,600.00 or 17.2%
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
An alternative ECA rate adjustment with the multiplier will be presented for City Council's consideration.
Proposed Motion:
Move adopti...
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