The Imperial Irrigation District power department is projecting an $11 million savings on the cost of natural gas to run the district's power generators next year.
The potential savings, though not guaranteed, were discussed at a power department budget public workshop Tuesday.
The savings are the result of lower expected fuel costs and cost hedging by the district, according to IID Chief Financial Officer/Controller Kris Fontaine.
"The good thing about hedging is you lock in price," Fontaine said. "The bad thing about hedging is you lock in price."
IID board President Andy Horne urged district staff to try to lock in the price for at least 2002 to avoid price fluctuations.