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Council authorizes hedging 25% of expected gas use for summer 2030 and winter 2030–31
Summary
Eden Plus City Council voted July 13 to authorize 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 to extend agreements with the city's carrier to execute contracts.
On July 13 the Eden Plus City Council authorized a plan to hedge a portion of the city’s projected natural gas use for future periods to lock in prices and manage budget risk.
The motion, presented during the Public Works report, authorized hedging 25% of expected use for summer 2030 at $3.10 per decatherm (or better) and 25% of expected use for the winter of 2030–31 at $5.65 per decatherm (or better), and allowed staff to extend any agreements with the city’s carrier as needed to execute the contracts. The motion was made from the floor, seconded and carried by voice vote.
Council members noted staff normally provide paperwork for such motions but proceeded after committee discussion; no roll-call tally was recorded in the transcript. The council set follow-up Public Works meeting dates and left contracting authority with staff to finalize agreements as needed.
