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Council authorizes gas hedging for 2030–31 to manage future energy costs
Summary
Council approved a motion to hedge 25% of expected summer 2030 gas use at $3.10/decatherm and 25% of expected winter 2030–31 use at $5.65/decatherm, with authority to extend agreements to execute contracts.
Councilmember (speaker identifying themselves during committee report) introduced a motion authorizing the city to hedge portions of its forecast gas usage for future budgetary stability. The motion directed staff to hedge 25% of expected summer 2030 use at $3.10 per decatherm (or better) and 25% of expected winter 2030–31 use at $5.65 per decatherm (or better), and to extend agreements with the carrier as needed to execute contracts.
The motion was seconded by another council member, called for discussion, and passed on a voice vote. Council noted the item came from the Public Works committee and that staff would provide related forms and contract documents to implement the hedging authorization.
