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Council authorizes gas‑hedging contracts covering 25% of projected use for 2030–31 at set prices
Summary
The council approved a Public Works motion authorizing the city to hedge 25% of expected gas use for summer 2030 at $3.10 per dekatherm and 25% for winter 2030–31 at $5.65 per dekatherm, and to extend agreements with the carrier as needed.
During the public‑works report on July 13, a council member moved to authorize the city to hedge fuel purchases for future periods. The motion, supported in discussion, directed staff to lock in up to 25% of expected use for summer 2030 at $3.10 per dekatherm (or better) and 25% of expected use for winter 2030–31 at $5.65 per dekatherm (or better), and to extend any agreements with the city’s carrier necessary to execute the contracts.
A council member seconded the motion and the council voted in favor. The motion included explicit price limits and percentages and authorized staff to continue or extend existing contracts as needed to implement the hedges.
No detailed vote tally by named councilmembers was recorded in the meeting transcript; the record shows an oral “aye” vote and the mayor declared the motion passed.
