Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Meag Yearend Settlement topic
No spam. Unsubscribe anytime.
Marietta BLW to apply $2.235 million MEAG year-end settlement as credit to next bill
Summary
The board recommended the Mayor sign forms to apply Marietta’s $2,235,824 share of the Municipal Electric Authority of Georgia year‑end settlement as a credit to the next MEAG bill; the recommendation was approved unanimously.
The Marietta Board of Water and Light recommended that the City apply its share of the Municipal Electric Authority of Georgia (MEAG) year‑end settlement as a credit to the utility’s next MEAG bill.
Board members were told Marietta’s share of the settlement is $2,235,824. The board voted unanimously to forward the recommended credit and to have the Mayor sign the form that will apply the credit to the next MEAG billing cycle.
Why it matters: The year‑end settlement reduces the BLW’s upcoming MEAG expense, which affects cash flow and the utility’s net costs for power purchases.
Details presented to the board A finance staff presenter summarized that the total MEAG year‑end settlement figure was discussed and that some larger MEAG projects (identified in the meeting as Project M among others) changed the distribution of settlement dollars, lowering Marietta’s percentage share in this year’s calculation. The presenter gave the Marietta amount as $2,235,824 and recommended crediting that amount to the next MEAG invoice, which is the board’s typical practice.
Board action A motion to apply the $2,235,824 credit to Marietta’s next MEAG bill passed unanimously (7-0). The board recorded that historically the city applies the year‑end settlement to the next MEAG billing and recommended the Mayor sign the paperwork to effect the credit.
Next steps Staff will prepare and submit the credit form for the Mayor’s signature and report back to the board when the credit has been applied.
