HomeMy WebLinkAboutResolutions - No. 2001-14RESOLUTION NO. 2001-14
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING
THE NORTHERN CALIFORNIA POWER AGENCY (NCPA)
GENERAL MANAGER TO ENTER INTO MULTI-YEAR
ENERGY PURCHASE AND SALE CONTRACTS
ON BEHALF OF THE CITY OF LODI
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WHEREAS, NCPA is currently authorized to enter into contracts on behalf of the
City for up to one-year terms; and
WHEREAS, recently energy market prices have soared and continue to be subject
to increasing volatility requiring a shift to longer term contracts in order to maintain our
energy costs at a manageable level; and
WHEREAS, the City's growth over the past several years has accelerated our
need to consider new long-term resources; and
WHEREAS, long-term energy purchase and sale opportunities in the existing
power market generally allow for minimal response time, often less than one hour, and the
ability to enter into multi-year bilateral energy contracts is vital to the continued financial
integrity of Lodi's electric operations; and
WHEREAS, in order to quickly respond to current market conditions, it is proposed
that the NCPA General Manager be authorized to execute energy purchase and sale
contracts for periods up to ten years in order to better meet the City's resource needs
while minimizing financial risks.
NOW, THEREFORE, BE IT RESOLVED, that the Lodi City Council hereby
authorizes the NCPA General Manager to enter into multi-year energy purchase and sale
contracts on behalf of the City of Lodi.
Dated: January 30, 2001
I hereby certify that Resolution No. 2001-14 was passed and adopted by the Lodi
City Council in a special meeting held January 30, 2001 by the following vote:
AYES: COUNCIL MEMBERS — Hitchcock, Howard, Land, Pennino and
Mayor Nakanishi
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
SUSAN J. BLACKSTON
City Clerk
2001-14