Print this page

Special City Council Meeting Agenda - July 30, 2018

AGENDA

ROCHELLE CITY COUNCIL

SPECIAL MEETING

Monday, July 30, 2018 at 6:00 p.m.

City of Rochelle Council Chambers

 420 North 6th Street, Rochelle, IL 61068

I. CALL TO ORDER:

· Pledge to the Flag

· Prayer

II. ROLL CALL:

III.   PUBLIC COMMENTARY:  

IV.   BUSINESS ITEMS:

1)   Amendment to Power Purchase Agreement between the City of Rochelle and NextEra Energy Marketing, LLC

V.  ADJOURNMENT

The Council Meeting will be broadcast live on Facebook


 Agenda Item #1 - Amendment to Power Purchase Agreement with NextEra Energy Marketing, LLC

Staff Contact:  Jeff Fiegenschuh, City Manager & Jason Bird, Superintendent of Electric Operations

Summary:     

Last year the City Council authorized the City Manager to execute a power purchase agreement with Nextera Energy for electric usage above our 30 Megawatt baseload with Prairie State Generating Company.  The contract is a three-year contract that went into effect June 1, 2018.  At the time of the contract execution, the City was able to lock in rates of $29.40 a Megawatt hour, which was well below the previous contract of $44 a Megawatt hour price.

Since the contract execution, power prices have continued to decrease.  At the recent APPA conference, Jason and I met with our Nextera representative about extending our contract to lock in the prices for a longer term.  Currently, the prices are approximately $28.55 a Megawatt hour, which is slightly lower than our three-year rate.  Staff would like authorization to work with Nextera to extend the contract for up to 8 additional years at the lower price.  This will guarantee our customers receive a lower energy price for all power over 30 Megawatts. 

Recommendation:     Authorize the City Manager to execute a new agreement with Nextera Energy to extend the power purchase agreement for up to an additional 8 years.

Supporting Documents: 

  pdf Resolution (119 KB)