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Council authorizes gas-hedging contracts covering portions of summer 2030 and winter 2030–31
Summary
The council approved a motion 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 agreements with the city's carrier as needed.
A Public Works motion to authorize gas-hedging purchases for future seasons passed after discussion. The motion instructed staff to hedge 25% of expected city gas use for summer 2030 at $3.10 per decatherm (or better) and 25% for the winter of 2030–31 at $5.65 per decatherm (or better), and to extend agreements with the carrier as needed to execute the 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, and also 25% of the expected use for the winter of 2030, 2031 at $5.65 per decatherm or better," the mover said during council discussion. The motion was seconded by Council member Sorkin and approved by voice vote; the meeting record shows no roll-call tally.
