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Council authorizes limited gas‑hedge contracts for summer 2030 and winter 2030–31
Summary
The council authorized city staff to hedge 25% of expected summer 2030 gas use at $3.10 per dekatherm and 25% of expected winter 2030–31 use at $5.65 per dekatherm and to extend required agreements; the motion passed by voice vote.
During the Public Works report, councilors discussed energy procurement and a motion was made to authorize gas‑hedging to lock in prices for portions of future usage. The motion directed staff to hedge 25% of expected summer 2030 gas consumption at $3.10 per dekatherm (or better) and 25% of expected winter 2030–31 consumption at $5.65 per dekatherm (or better), and to extend agreements with the city’s carrier as necessary to execute the contracts.
A councilor moved the authorization and a second was recorded; after a brief procedural exchange the council approved the motion by voice vote. The public‑works representative noted staff would provide contract paperwork as needed and that the purchase targets are intended to spread risk across multiple future delivery periods.
