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City council authorizes 25% natural-gas hedges for summer 2030 and winter 2030–31
Summary
The Eden Plus City Council approved a motion authorizing the city to hedge 25% of expected natural-gas use for summer 2030 at $3.10 per dekatherm (or better) and 25% for winter 2030–31 at $5.65 per dekatherm (or better), and to extend agreements with its carrier as needed.
The Eden Plus City Council voted to authorize an energy hedging strategy covering 25% of the city’s anticipated natural-gas use for two future delivery periods. Council member [name recorded in minutes as mover] made the motion; Council member Sorkin seconded it and the motion passed with affirmative votes on the floor.
The motion directs staff to hedge 25% of expected use for summer 2030 at a price of $3.10 per dekatherm or better, and 25% of expected use for winter 2030–31 at $5.65 per dekatherm or better, and to extend any agreements needed with the city’s carrier to execute the contracts. During committee reports, Public Works described monitoring forward-market prices and recommended purchasing hedges now to lock in those rates.
Council did not record a roll-call of individual yea/nay votes in the transcript; the mayor called for the vote and members present voiced “aye.” The motion was described as an authorization to proceed with contracts and did not themselves appropriate new budget dollars in the meeting record.
The authorization aims to reduce exposure to future price volatility by purchasing financial hedges for a portion of forecasted consumption. The council asked the public-works director to provide standard contract paperwork at a later meeting.
