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Council authorizes gas hedging for portions of summer 2030 and winter 2030–31
Summary
Council authorized a motion to hedge 25% of expected gas use for summer 2030 at $3.10 per decatherm and 25% for winter 2030–31 at $5.65 per decatherm; the motion passed by voice vote.
The Public Works report recommended authorizing the city to hedge a portion of its future natural‑gas purchases. The motion on the floor asked 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 20 30, 20 31 at $5.65 per decatherm or better," and to extend agreements with the carrier as needed.
Council moved, seconded and approved the hedging authorization by voice vote. The motion directed staff to execute hedge contracts and to return with any required contract extensions or implementation paperwork.
