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Council approves DWP reliability contracts tied to long-term debt strategy
Summary
The council approved an item from the Department of Water and Power on reliability contracts and planning tied to the department’s effort to reduce generation-related stranded debt. DWP staff said the department aims to be debt-free for generation by 2003 and noted contracts before the council are limited to reliability-related grid agreements.
The Los Angeles City Council approved an item from the Department of Water and Power concerning reliability contracts and related agreements intended to support grid reliability and the department’s longer-term financial strategy.
Wendy Yancey of the Department of Water and Power told the council the item relates only to the department’s reliability contracts and does not represent an entry into a…
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