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Cookeville extends Symmetry Energy gas contracts, changes purchase method to lower costs
Summary
Council approved amendments to three contracts with Symmetry Energy Solutions LLC that extend contract expiration to March 31, 2029 and allow the company to buy gas from three Tennessee Gas Pipeline legs at the lowest cost, projected to save about $120,000 annually.
The Cookeville City Council on Jan. 16 approved an amendment to the city’s contracts with Symmetry Energy Solutions LLC that extends the agreements’ expiration dates to March 31, 2029 and changes the supplier-selection method for gas purchases.
City staff said the original contracts required Symmetry to buy gas from three specific legs of the Tennessee Gas Pipeline system by fixed percentages. Because the price parity among those legs has changed, the amendment allows Symmetry to evaluate those three legs and purchase from the lowest-cost source first. Staff estimated the change will save the city about $120,000 a year, and those savings would be passed directly to customers through rates, the city reported.
The council voted unanimously to approve the contract amendments; the motion was made by Councilman Bauchner and seconded by Vice Mayor Eldridge. No public comment was recorded on this item.
