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Council authorizes 25% gas hedges for summer 2030 and winter 2030–31
Summary
The Eden Plus City Council authorized hedging 25% of expected summer 2030 gas use at $3.10 per dekatherm (or better) and 25% of expected winter 2030–31 use at $5.65 per dekatherm (or better); the motion passed by voice vote.
The council's Public Works committee moved to authorize the city 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 to extend agreements as needed with the city's carrier. Council member S4 made the motion and S9 seconded; the motion was approved by voice vote with no recorded opposition.
Committee discussion noted current forward markets and timing for purchases, and the committee also covered other public-works items including potential annexation near McHugh Street and Expo Center door replacements. The gas-hedge authorization directs staff to proceed with contracting at the stated percentages and price targets.
