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City staff warn of rising electric costs; council asked to consider longer aggregation term
Summary
An energy consultant told Lima City Council that wholesale 'capacity' costs have spiked and recommended the council consider a 3–5 year aggregation contract and give the consultant authority to transact when market conditions are favorable.
An energy-market consultant updating the Lima City Council on the municipal electric aggregation program said wholesale electricity costs are expected to rise for several years because of a supply-demand mismatch and increased capacity auction prices.
Erin Schmarshchneider of Trey Bell Energy presented program results and market context, telling council that since September 2023 the aggregation program produced collective savings of about $2,442,082 and roughly $500 per participating account year-to-date. She said 4,882 participants are enrolled in the city program,…
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