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Council authorizes gas-hedge contracts to lock portions of projected 2030–31 use
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 winter 2030–31 use at $5.65 per dekatherm (or better), and to extend agreements with the city's carrier as needed.
During the Public Works committee report, Councilmember LeFork described a recommendation to authorize gas-hedging contracts for portions of the city's future expected gas use. The motion said the city would hedge 25% of expected summer 2030 use at $3.10 per dekatherm or better and 25% of expected winter 2030'031 use at $5.65 per dekatherm or better and to execute necessary contract extensions with the carrier.
The motion was seconded by Councilmember Sorkin and carried on a voice vote. "So I make a motion to authorize the city to hedge 25% of the expected use for the time period of summer 2030 at $3.10 per dekatherm or better," LeFork said as he moved the item; council members voiced their assent and the motion passed.
