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Council authorizes gas‑hedging strategy for 2030 and 2030–31 winter
Summary
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 allowed staff to extend agreements as needed; the motion passed by voice vote.
The council authorized a multi‑year gas‑hedging strategy at the July 13 meeting.
Public Works reported a motion 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 2030–31 at $5.65 per decatherm or better," and to extend agreements with the carrier as needed. The motion was seconded by council member Sorkin and approved by voice vote. Council directed staff to proceed with contract adjustments as required to execute the hedges.
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