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City auditor: Utilities’ hedging policy cost millions

City auditor: Utilities’ hedging policy cost millions

A program designed to protect ratepayers from volatility in the natural gas market provided less savings than originally thought, due largely to the economic downturn and discovery of new reservoirs of the fuel. A city audit of the natural gas hedging program by Colorado Springs Utilities found that the municipal utility could have saved $208.3… Continue Reading City auditor: Utilities’ hedging policy cost millions