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Council authorizes gas‑hedging contracts covering portions of summer 2030 and winter 2030–31
Summary
By voice vote 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), directing staff to extend agreements as needed.
Council member (Public Works) moved to authorize the city to hedge 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 to extend any agreements needed with the carrier to execute contracts. "I make a motion to authorize the city to hedge 25% of the expected use for the time period of summer 20 30 at $3.10 per decatherm or better," the councilor said during the public works report.
The motion was seconded and approved by voice vote; council directed staff to execute the hedging agreements as specified. The item was prompted by Public Works staff recommendation and discussed at committee beforehand; no specific vendor or contract amount was finalized during the meeting.
