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File #: 22-735    Version: 1 Name:
Type: Resolution Status: Mayor's Office
File created: 11/2/2022 In control: City Council
On agenda: 11/22/2022 Final action: 11/22/2022
Title: A Resolution Setting the Gas Cost Adjustment Effective December 1, 2022 Presenter: Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Attachments: 1. 12-01-2022 CC Mtg-GCA Resolution, 2. Sheet 2.4 Rate Tbl - 20th Revised - Redline, 3. Sheet 2.4 Rate Tbl - 20th Revised - Final, 4. 11-22-2022 GCA Schedule 1, 5. Signed Resolution No. 212-22

 

  Title

A Resolution Setting the Gas Cost Adjustment Effective December 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 (Utilities) is proposing a change to the Gas Cost Adjustment (GCA) rate effective December 1, 2022.  The proposed GCA rate adjustment changes the current effective rate of $0.7775 per Ccf to the proposed rate of $0.6008 per Ccf.

 

  Background: 

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

 

  Previous Council Action:

On September 27, 2022, City Council approved the GCA rate of $0.7775 per Ccf by Resolution 137-22.

 

  Financial Implications:

Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
                               Residential natural gas bill decrease of $10.60 or 14.4%
                     Commercial natural gas bill decrease of $219.11 or 17.0%
                     Industrial natural gas bill decrease of $2,191.08 or 17.3%

 

  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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