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Missouri City considers limited sale of groundwater over‑conversion credits; GRP recommends cap of 5 billion gallons
Summary
City staff presented a proposal to seek buyers for a small portion of the city’s groundwater over‑conversion credits; the GRP recommended a conservative cap of 5 billion gallons and reported a market inquiry for 20 million gallons.
Missouri City council discussed authorizing staff to seek potential buyers and negotiate the sale of a portion of the city’s groundwater over‑conversion credits during its Aug. 18 special meeting.
Assistant Utilities Director Nicholas Cook explained the credits are part of the Fort Bend Groundwater Reduction Plan (GRP) compliance program. "Currently, the GRP owns 19,000,000,000 gallons of over conversion credits, and they were purchased at a rate of 2¢ per thousand gallons," Cook said, describing the purchase as an insurance policy that protects the city from higher disincentive fees if groundwater pumping exceeds permitted limits. Cook said the disincentive fee currently is $6.50 per thousand gallons.
Cook said the GRP oversight committee recommended council…
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