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Board authorizes administration to secure electricity contracts up to five years if rates meet thresholds
Summary
After a presentation on recent procurement work and market conditions, the board approved thresholds allowing administration to lock new electricity supply contracts for up to five years if the energy rate meets or falls below the specified thresholds.
Morton, Ill. The Morton CUSD 709 Board of Education authorized district administrators to secure a new electricity supply contract of up to five years if market rates meet the thresholds presented, following a district presentation on prior procurement and projected savings.
Why it matters: Electricity is a material operating cost for the district. Administration reported that moving away from the Illinois Energy Consortium in 2022 and using a broker-led reverse-auction approach reduced costs versus the IEC rate, and that securing a new contract now could save taxpayers further money depending on market conditions.
Adam Jacob, business-office staff, reviewed recent history: the district paid about 4 cents per kilowatt-hour before 2022, then…
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