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Council authorizes gas‑hedging contracts covering 25% of expected use for 2030 summer and 2030–31 winter
Summary
The council approved a Public Works motion to hedge 25% of expected 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 authorized extension of agreements with the city's carrier as needed.
During the Public Works portion of the July 13 meeting, a council member moved to authorize hedging 25% of the city's expected gas usage for summer 2030 at $3.10 per dekatherm (or better) and 25% of the expected use for winter 2030–31 at $5.65 per dekatherm (or better), and to extend contractual agreements as needed to execute the hedges. Council member Sorkin seconded the motion and the council approved it by voice vote.
"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 the Public Works report. The motion included authority to extend any agreements with the city's carrier necessary to execute the contracts. The motion was put to a voice vote and carried; no roll‑call tally was recorded in the transcript.
