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Council authorizes gas‑hedging contract for portions of summer 2030 and winter 2030–31 use
Summary
The council authorized hedging 25% of expected natural gas use for summer 2030 at $3.10 per decatherm and 25% for winter 2030–31 at $5.65 per decatherm and approved extending related agreements as needed; the motion passed on a voice vote.
During the public‑works report, council considered an energy‑procurement recommendation to hedge portions of future natural‑gas purchases. A council member moved to "authorize the city to hedge 25% of the expected use for the time period of summer 2030 at $3.10 per decatherm or better, and also 25 percent of the expected use for the winter of 2030–31 at $5.65 per decatherm or better, and to extend any agreements needed with our carrier as needed to execute those contracts."
The motion was seconded and carried on a voice vote with council responding "Aye." Council directed staff to proceed with the contracting steps needed to implement the hedges. The motion record in the transcript records a voice vote only; individual roll‑call tallies were not provided.
