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File #: 22-577    Version: Name:
Type: Resolution Status: Mayor's Office
File created: 8/24/2022 In control: City Council
On agenda: 9/27/2022 Final action: 9/27/2022
Title: A Resolution Setting the Electric Cost Adjustment Effective October 1, 2022 Presenter: Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities Scott Shirola, Pricing and Rates Manager, Colorado Springs Utilities Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Attachments: 1. 09-27-2022 CC Mtg-ECA Resolution, 2. Sheet 2.9 E Rate Tbl - 18th Revised - Redline, 3. Sheet 2.9 E Rate Tbl - 18th Revised - Final, 4. ECA Schedule 1, 5. Signed Resolution No. 138-22

 

  Title

A Resolution Setting the Electric Cost Adjustment Effective October 1, 2022

 

  Presenter: 

Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Scott Shirola, Pricing and Rates Manager, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities

 

  Summary:

Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective October 1, 2022.  The proposed ECA rate adjustment changes the current effective rate of $0.0523 per kWh to the proposed rate of $0.0462 per kWh.

 

  Background: 

Utilities performs continuous monitoring of ECA with monthly updates provided to the Utilities Board.

  Previous Council Action:

On June 28, 2022, City Council approved the ECA rate of $0.0523 per kWh by Resolution 85-22.

 

  Financial Implications:

Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Electric bill:
                               Residential electric bill decrease of $4.27 or 3.9%
                     Commercial electric bill decrease of $36.60 or 4.8%
                     Industrial electric bill decrease of $2,440.00 or 5.4%

 

  City Council Appointed Board/Commission/Committee Recommendation:

N/A

 

  Stakeholder Process:

N/A

 

  Alternatives:

N/A

 

  Proposed Motion:

Move approval of the Resolution.

 

  Summary of Ordinance Language

N/A



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