Treasurer asks how volatile oil and rates feed the revenue review; staff points to futures markets and model updates

During a question-and-answer segment, Treasurer Pellicciotti asked whether the elevated and fast‑moving oil prices and recent interest‑rate changes would be reflected in the upcoming revenue review or only in future forecasts.

"When we actually have our revenue review, will that be incorporated, or will that be something in future forecast related to... if oil prices stay elevated?" Pellicciotti asked. Dr. Wright replied that oil assumptions are taken from futures‑market pricing and that the staff will use the most recent futures prices for the final revenue review; interest rates come from the staff's forecast models and will be updated as new data arrive. "We will use the futures market to that again for the final forecast... and you'll get the most recent one," Dr. Wright said, noting that oil prices can change rapidly and that interest‑rate projections are less uncertain but still subject to change.

The council heard no public questions; staff confirmed an updated revenue forecast will be delivered on Sept. 25 when the council next convenes on revenue.