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Council authorizes gas‑hedging contracts covering 25% of summer 2030 and winter 2030–31 demand
Summary
The council authorized hedging 25% of expected gas use for summer 2030 at $3.10 per decatherm (or better) and 25% for winter 2030–31 at $5.65 per decatherm (or better), and empowered staff to extend agreements as needed; the motion passed on a voice vote.
During the Public Works report, Councilor McClure moved to authorize the city to hedge 25% of expected gas use for the summer of 2030 at "$3.10 per decatherm or better" and 25% of expected use for winter 2030–31 at "$5.65 per decatherm or better," and to extend any agreements necessary to execute those contracts. The motion said the city would "extend any agreements needed with our carrier as needed to execute those contracts." Council member Sorkin seconded and the motion passed on a voice vote.
Council discussion noted the practice of hedging multiple seasons ahead and that the proposed hedges were priced below other recent purchase rates. No roll‑call vote or individual tallies were recorded in the transcript; Mayor Procheck called the voice vote and declared the motion passed.
