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Council authorizes limited gas hedging for 2030–31 to stabilize utility costs
Summary
The council approved a public-works motion 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 (or better) and to extend agreements as needed; motion passed by voice vote.
During the public-works report, a council member moved to authorize the city to hedge 25% of expected gas use for the summer 2030 period at a target price of $3.10 per dekatherm and 25% for winter 2030–31 at $5.65 per dekatherm (or better), and to extend any agreements necessary to execute those contracts. The motion was seconded and the council approved it by voice vote.
The public-works member noted the city typically hedges purchases well in advance and said the recommended percentages and price points are intended to provide budget stability for future seasons. No named dollar commitment to the city was stated on the record; council will continue to follow procurement procedures when finalizing contracts.
