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Council authorizes gas-hedging strategy covering 25% of summer 2030 and winter 2030–31 use
Summary
Public Works recommended and the council approved a motion to hedge 25% of expected summer 2030 gas use at $3.10 per dekatherm (or better) and 25% of expected winter 2030–31 use at $5.65 per dekatherm (or better), and to extend contracts as needed.
The council approved a Public Works motion authorizing the city to hedge portions of its future natural-gas exposure. The motion, offered during the Public Works report, sought authorization to hedge 25% of the expected summer 2030 demand at $3.10 per dekatherm (or better) and 25% of the expected winter 2030–31 demand at $5.65 per dekatherm (or better), and to extend contracts with the city's carrier as needed.
Councilor (speaker 4) moved the authorization and it was seconded; the motion passed on a voice vote. The council did not record a roll-call tally in the transcript, and the motion language was taken from the Public Works report as presented to council.
