Title
A Resolution Setting the Electric Cost Adjustment Effective March 1, 2023
Presenter:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Travas Deal, Acting Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities (Utilities) is proposing a change to the Electric Cost Adjustment (ECA) rate effective March 1, 2023. The proposed ECA rate adjustment changes the current rate of $0.0391 per kWh to $0.0284 per kWh. To reflect the proposed ECA rate, Utilities proposes changing the current Green Power Service rate of $0.0449 per kWh to $0.0342 per kWh.
Background:
Utilities performs continuous monitoring of ECA with monthly updates provided to the Utilities Board.
Previous Council Action:
On November 22, 2022, City Council approved the ECA rate of $0.0391 per kWh by Resolution 213-22.
Financial Implications:
Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Electric bill:
Residential electric bill decrease of $7.49 or 7.5%
Commercial electric bill decrease of $64.20 or 9.4%
Industrial electric bill decrease of $4,280.00 or 10.8%
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move approval of the Resolution.
Summary of Ordinance Language
N/A