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Council authorizes city to hedge 25% of gas use for summer 2030 and winter 2030–31
Summary
Council authorized a gas-hedging plan to buy 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); motion was moved, seconded and passed by voice vote.
During the Public Works report, the council considered a staff recommendation to hedge portions of the city’s anticipated natural-gas purchases in future delivery periods.
A council member moved to authorize the city to hedge 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), and to extend any agreements needed with the city’s carrier to execute the contracts. The motion was seconded and put to a voice vote; council approved the motion.
Councilors indicated staff and the Public Works director will complete required paperwork to execute the hedge agreements. No roll-call tally was recorded in the meeting transcript.
