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Johnstown district approves electric supply agreement; staff said price lock was time-sensitive
Summary
The board approved an electricity supply agreement with Freepoint Energy and broker Chrislyn Energy Services Inc.; district staff told members the contract language was added at the last minute because the broker advised locking a rate immediately.
The Greater Johnstown SD Board of School Directors approved an electricity supply agreement with Freepoint Energy and the broker Chrislyn Energy Services Incorporated during its June 5 meeting, added to the agenda as addendum item BF79.
District staff told the board the addition was time-sensitive because the energy broker advised the district to lock a price immediately to avoid higher costs. A staff member explained, “it’s one of those services where you have to lock in price immediately or else it goes up. So the broker said we have to lock in as quickly as possible.”
Why it matters: locking a supply rate binds the district to terms that affect utility costs over the contract period. The board approved the addendum during the meeting; the transcript records a motion, a second and a voice vote that carried the item.
The agenda item was described in the addendum as the electricity supply agreement between the district, Freepoint Energy, and the broker Chrislyn Energy Services Incorporated. The motion passed; the district’s business office and energy manager will be responsible for contract implementation and any follow-up reporting to the board.
Board members and the public who want additional detail about term length, pricing schedule, or potential budgetary impact should request the contract from the business office under standard public-record procedures.
