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Council authorizes gas‑hedging plan to lock portions of 2030 and 2031 supply
Summary
Eden Plus authorized staff to hedge 25% of expected gas use for summer 2030 at $3.10 per dekatherm and 25% for winter 2030–31 at $5.65 per dekatherm, extending contracts as needed; the motion passed by voice vote.
The council approved a motion to hedge a portion of the city's estimated future natural‑gas needs.
Councilor LeFork moved to authorize the city to hedge 25% of expected use for summer 2030 at $3.10 per dekatherm (or better) and 25% for winter 2030–31 at $5.65 per dekatherm (or better), authorizing staff to extend agreements with the city's carrier as needed to execute contracts. The motion was seconded and approved by voice vote.
Council discussion noted the recommendation came from Public Works and that staff would provide the standard contract documentation. The authorization directs staff to proceed with hedging up to the specified amounts and price thresholds.
