HomeMy WebLinkAboutResolutions - No. 2008-1551�Y�1���C�1i• li• C���I�I:�iN'��
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING
THE CITY MANAGER AND ELECTRIC UTILITY DIRECTORTO
ISSUE REQUEST FOR BIDS, DETERMINETHE BEST BID, AND
EXECUTE CONTRACT FOR A 25 MEGAWATT BASELOAD
POWER PURCHASE FOR THE PERIOD OF JULY 2010
THROUGH MARCH 2012 AT A COST NOT TO
EXCEED $79 PER MEGAWATT HOUR
WHEREAS, Lodi presently has a 25 megawatt baseload power purchase from
ConocoPhillips that expires on June 30, 2010; and
WHEREAS, due to a deferral in the projected in-service date of the Lodi Energy Center
until April 2012, Lodi has a significant "open position" (approximately 65%) from July 2010
through March 2012; and
WHEREAS, recent softening of wholesale power prices in 2010 and beyond make it
practical to acquire baseload powerto close a significant portion of such open position.
NOW, THEREFORE, BE IT RESOLVEDthat the Lodi City Council hereby authorizesthe
City Manager and Electric Utility Director to issue one or more request for bids, determine the
best bid, and execute a contract for a 25 megawatt baseload power purchase for the period of
July 2010 through March 2012 at a cost not to exceed $79 per megawatt hour (subject to the
unanimous consent of the Lodi Electric Risk Oversight Committee) and authorizes the Electric
Utility Director or his designee to administer any such contract.
Dated: August 6, 2008
hereby certify that Resolution No. 2008-155 was passed and adopted by the Lodi City
Council of the City of Lodi in a regular meeting held August 6, 2008, by the following vote:
AYES: COUNCIL MEMBERS— Hansen, Hitchcock, Johnson, Katzakian, and
Mayor Mounce
NOES: COUNCIL MEMBERS— None
ABSENT: COUNCIL MEMBERS— None
ABSTAIN: COUNCIL MEMBERS— None
ANDI JOHL
City Clerk
2008-155