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Council authorizes gas hedging for portions of 2030 and 2030–31 usage
Summary
The Eden Plus City Council authorized hedging 25% of expected gas use for summer 2030 at $3.10 per decatherm and 25% for winter 2030–31 at $5.65 per decatherm, and directed staff to execute agreements as needed.
The Eden Plus City Council voted on July 13 to authorize the city to hedge portions of its future natural-gas purchases for budget protection.
Councilmember (speaker 5) moved to “authorize the city to hedge 25% of the expected use for the time period of summer 2030 at $3.10 per decatherm or better, and also 25% of the expected use for the winter of 2030–2031 at $5.65 per decatherm or better, and to extend any agreements needed with our carrier as needed to execute those contracts.” The motion was seconded by Council member Sorkin (speaker 9) and adopted by voice vote.
Council discussion noted the city’s approach of hedging forward seasons and that staff would extend agreements with the carrier as required to execute the hedges. No roll-call vote or individual tallies were recorded in the public portion of the transcript; council approved the motion by voice vote.
