From
Gina Alley
Title
Resolution authorizing Texas Coalition for Affordable Power (TCAP) to negotiate an electric supply agreement for five (5) years (2018-2022)
Presenter
Gina Alley, Senior Assistant to the City Manager
Recommended Action
Approve
Analysis
The proposed resolution allows the city manager or the deputy city manager to approve a constract agreement to renew electric supply through TCAP if the amount is at or below 3.775 cents kWh. Upon TCAP providing the lowest market price of energy should it be below 3.775 cents kWh, the city manager and/or deputy city manager has the authority to renew the contract until 2022. This resolution authorizes the signatory to sign a contract at any time before December 31, 2016.
Financial Consideration
N/A
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, AUTHORIZING THE TEXAS COALITION FOR AFFORDABLE POWER, INC. (TCAP) TO NEGOTIATE AN ELECTRIC SUPPLY AGREEMENT FOR FIVE YEARS FOR DELIVERIES OF ELECTRICITY EFFECTIVE JANUARY 1, 2018; AUTHORIZING TCAP TO ACT AS AN AGENT ON BEHALF OF THE CITY TO ENTER INTO A CONTRACT FOR ELECTRICITY; AUTHORIZING City Manager or Deputy City Manager TO EXECUTE AN ELECTRIC SUPPLY AGREEMENT FOR DELIVERIES OF ELECTRICITY EFFECTIVE JANUARY 1, 2018 AND COMMITTING TO BUDGET FOR ENERGY PURCHASES IN 2018 THROUGH 2022 AND TO HONOR THE CITY’S COMMITMENTS TO PURCHASE POWER FOR ITS ELECTRICAL NEEDS IN 2018 THROUGH 2022 THROUGH TCAP
1. WHEREAS, the City of Grand Prairie, Texas (City) is a member of Texas Coalition For Affordable Power, Inc. (TCAP), a non-profit, political subdivision corporation dedicated to securing electric power for its more than 170 members in the competitive retail market; and
2. WHEREAS, TCAP has unique rights under Texas law to negotiate directly in the wholesale market and arrange separate contracts for power supply and retail services which provides TCAP leverage to achieve contract provisions that single city negotiations with a Retail Electric Provide...
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