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Council to consider electricity aggregation resolution; Stone River Group named broker
Summary
Council members discussed a resolution authorizing a service agreement to aggregate electricity purchases for residential and small commercial customers who do not opt out. Staff said Stone River Group would act as broker and may select the supplier when market rates are favorable; the item was placed on the regular agenda.
On Jan. 14, 2025 the Lincoln Committee of the Whole discussed a resolution authorizing the execution of a service agreement that would allow the city to aggregate electricity purchases for residential customers and small commercial retail customers who do not opt out.
City staff member Mr. Hovlett described the measure as a recurring authorization the council has approved previously. "This is the resolution that we had last time we did this... it's necessary to pass a resolution for the aggregation for the benefit of our residential customers and the small businesses," Hovlett said, noting the city has used aggregation in past years and that the market dictates when suppliers are locked in.
Hovlett said the city typically uses Stone River Group as the broker; Stone River solicits suppliers and recommends when to lock in a rate. He identified the current supplier as Constellation but cautioned that the supplier could change depending on market conditions. Council member Miss Rolfes asked whether multiple companies bid; Hovlett said Stone River is the broker and works with a limited pool of suppliers.
Council agreed to place the resolution on the regular agenda for an upcoming meeting; no final contract award or execution occurred at this Committee of the Whole meeting.
