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File #: 23-121    Version: 1 Name:
Type: Resolution Status: Mayor's Office
File created: 2/14/2023 In control: City Council
On agenda: 2/28/2023 Final action: 2/28/2023
Title: A Resolution Setting the Gas 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
Attachments: 1. 02-28-2023 CC Mtg-GCA Resolution, 2. G Sheet 2.4 Rate Tbl - 21st Revised - Redline, 3. G Sheet 2.4 Rate Tbl - 21st Revised - Final, 4. 02-28-2023 GCA Schedule 1, 5. 02-28-2023 CC ECA-GCA, 6. Signed Resolution No. 26-23.pdf

 

Title

A Resolution Setting the Gas 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 Gas Cost Adjustment (GCA) rate effective March 1, 2023.  The proposed GCA rate adjustment changes the current rate of $0.6008 per Ccf to $0.3268 per Ccf.

 

  Background: 

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

  Previous Council Action:

On November 22, 2022, City Council approved the GCA rate of $0.6008 per Ccf by Resolution 212-22.

 

  Financial Implications:

Implementing the proposed rates will impact the respective customer’s Sample Total Monthly Natural Gas bill:
                               Residential natural gas bill decrease of $16.44 or 26.1%
                     Commercial natural gas bill decrease of $339.76 or 31.8%
                     Industrial natural gas bill decrease of $3,397.60 or 32.4%

 

  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



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