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Council authorizes gas-hedging strategy for parts of 2030–31 natural-gas needs
Summary
Council approved a motion to hedge 25% of expected gas use for summer 2030 at $3.10 per dekatherm (or better) and 25% for winter 2030–31 at $5.65 per dekatherm (or better) and authorized necessary contract extensions.
The Eden Plus City Council authorized a gas-hedging strategy during the public-works discussion on July 13.
A council member explained the city’s long-range hedging practice and moved to authorize hedging 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, including authority to extend necessary agreements with the city’s carrier to execute contracts. The motion was seconded by a council member (Sorkin in the transcript) and passed after a vote.
Why it matters: the motion locks in portions of the city’s future natural-gas purchases at specified price targets to manage fiscal exposure to market volatility.
What’s next: public-works staff will coordinate contract execution with the carrier and report as needed back to council; specific contract details and fiscal exposure were not recorded in the transcript.
