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Brigham City staff outline $24M peaking plant financing, timeline and operations plan
Summary
Public Power Director described a UAMPS-financed natural-gas peaking plant that Brigham City will operate and maintain; council discussed costs, market hedging benefits, a 20-year bond with a callable feature and an estimated $1.8 million annual payment while construction could begin within 30–60 days.
Public Power Director Tom Cooper briefed the council on Oct. 2 about a planned natural-gas peaking plant the city will operate to reduce exposure to volatile wholesale power prices.
Cooper said the facility will be owned and financed by the Utah Associated Municipal Power Systems (UAMPS). Under the agreement described to the council, UAMPS will bond for construction and Brigham City will operate and maintain the plant; the city will make debt payments to UAMPS through its regular…
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