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Elmhurst D205 authorizes staff to lock natural gas prices for up to 48 months to manage costs
Summary
The Board authorized the assistant superintendent of finance and operations to approve natural gas procurement contracts, with price terms up to 48 months, to allow staff to act within market windows; the motion passed 7–0.
The Board of Education voted Oct. 21 to authorize the assistant superintendent of finance and operations to approve natural gas procurement contracts and work with Ninia Energy Advisors to select price terms for a period not to exceed 48 months. The motion, moved by Dr. Henry and seconded by Miss Troutman, passed 7–0.
District staff said natural gas market prices can change rapidly and that an RFP window of roughly 24 hours often governs the ability to secure a favorable fixed rate. Becky Thompson of Ninia Energy Advisors briefed the board in a prior meeting; district staff said current market moves could raise costs roughly 8 percent from the district's previous fixed rate, with potential for larger moves if the district waits. The authorization allows staff to accept a rate within preapproved parameters and present the contract for board acceptance the following month when immediate market action is required.
Board members noted prior discussions and presentations on energy procurement and expressed support for the approach as a tool to manage variance in utility spending across the district's budget.
Motion text recorded in the meeting: “I move that the Board of Education authorize the assistant superintendent of finance and operations to approve contracts for the procurement of natural gas and to work with Nania Energy advisors to elect and designate the price terms of such contracts for a period not to exceed 48 months.”
Vote: 7 ayes, 0 nays.
