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Council reviews three-year gas-sales and transportation agreement with Wood River Energy
Summary
City staff and Wood River Energy outlined a proposed three-year natural-gas sales and transportation agreement that the vendor says would guarantee about 5% monthly savings versus MidAmerican Energy pricing and shield the city from extreme market events; council members asked questions about hedging, contract term and administrative fee savings.
Sioux City officials reviewed a proposed three-year natural-gas sales and transportation agreement with Wood River Energy during the council meeting.
Craig Gurch, regional sales director for Wood River Energy, told the council the contract would guarantee the city would pay roughly 5% less for gas than it would under MidAmerican Energy’s commodity pricing. “We’re gonna be 5 percent less than what you would pay with MidAmerican,” Gurch said, and he added the contract removes gas-transportation administrative fees the city…
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