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Council authorizes gas‑price hedging for 2030–31 to limit future price risk
Summary
Eden Plus Council approved a motion to hedge 25% of projected gas use for summer 2030 at $3.10 per decatherm and 25% for winter 2030–31 at $5.65 per decatherm, and to extend agreements as needed to execute contracts.
The Eden Plus City Council voted July 13 to authorize gas‑price hedging for portions of the city’s forecasted natural‑gas use in future years.
During the Public Works update, the council discussed hedging strategy and then approved a motion to hedge 25% of expected use for summer 2030 at $3.10 per decatherm (or better) and 25% of expected use for winter 2030–31 at $5.65 per decatherm (or better). The motion also authorized staff to extend any agreements needed with the city’s carrier to execute the contracts.
The motion was made by the public works representative and seconded by Council member Sorkin. The council approved the motion by voice vote.
The action instructs city staff to pursue hedging contracts consistent with the authorized percentages and price caps. No detailed contract terms were presented at the meeting; council directed staff to proceed with execution under those price targets.
