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Austin Energy committee approves $30 million transfer to power supply stabilization reserve
Summary
The Resource Management Commission voted to move $30 million of over-recovered power supply funds into Austin Energy's power supply stabilization reserve to meet the utility's financial-policy targets.
The Resource Management Commission voted to transfer $30,000,000 of over-recovered power supply adjustment funds into Austin Energy's power supply stabilization reserve to bring the reserve in line with the utility's financial policy.
Stuart Riley, Austin Energy deputy general manager of business services, told commissioners the utility’s financial policy “requires Austin Energy to overall have a 150 days cash on hand as a minimum.” He said the policy includes a…
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