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Council approves third amendment to NMEA gas supply agreement, extends financing window to 2054
Summary
The City Council adopted Resolution No. 2025-1977 approving a third amendment to the New Mexico Municipal Energy Acquisition Authority natural gas supply agreement; staff recommended keeping daily volumes at 12,500 MMBtu and extending the bond-financing duration to 2054 to seek larger discounts on the first-of-month index pricing.
The Farmington City Council voted 4-0 to adopt Resolution No. 2025-1977, approving a proposed third amendment to the natural gas supply agreement administered through the New Mexico Municipal Energy Acquisition Authority (NMEA).
Hank Adair (city utility staff) presented background, explaining the authority aggregates municipal gas demand to secure tax-exempt bond financing that can be used to obtain discounts on first-of-month index gas purchases delivered at Blanco Hub. Adair said the city’s historical participation produced a…
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