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Council authorizes limited gas hedging for summers and winters through 2031
Summary
Council approved a motion to hedge 25% of expected gas use for summer 2030 at up to $3.10 per decatherm and 25% for winter 2030–31 at up to $5.65 per decatherm, and authorized extending agreements with the city's carrier as needed.
During the Public Works report, Council member McClure moved to authorize the city to hedge 25% of expected gas use for summer 2030 at $3.10 per decatherm or better and 25% for the winter of 2030–31 at $5.65 per decatherm or better, with authority to extend agreements with the city's carrier as needed. The motion was seconded and approved by voice vote.
Council discussed the targeted timeframes for hedging (summer 2030 and winter 2030–31) and agreed to proceed without the works director's formal paperwork in hand. The motion passed on a voice vote; the clerk recorded that the motion was seconded by a council member and the mayor called the voice vote.
