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City manager authority to seek power-supply pricing extended to 2035 on first reading; staff cites volatile market
Summary
Council held first reading of an ordinance to amend prior authority and extend the city manager's power-procurement authority through February 1935 (document text), citing volatile market conditions and recent price increases; further readings are required.
On first reading, Westerville City Council considered an ordinance to amend a prior ordinance and extend the city manager’s authority to conduct competitive procurement for the city’s electric power-supply needs using a block-and-index strategy.
Staff said the existing authority runs through February 1930 and the proposed amendment would extend authority to February 1935 to give staff flexibility to pursue purchases when market conditions are favorable. City staff noted wholesale power markets are volatile; prices that had been attractive in recent briefings have trended upward and the most recent pricing staff cited was “about $47 or above.”
The matter was presented as a first reading; council took no vote on purchasing authority at the meeting. Staff said if the market dips again they will return with legislation to proceed more quickly and that the ordinance, if adopted after the required readings, would allow the manager to award contracts by motion if they meet the council’s established thresholds.
The first reading concluded with staff available to answer questions as the item proceeds through the required legislative steps.
