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Dayton proposes 25-year purchase from Gem City Solar to lock in renewable energy and hedge prices
Summary
City sustainability staff presented a proposed 25-year renewable energy purchase agreement with AEP Energy Partners tied to the Gem City Solar project (about 600 acres, sized to power ~13,000 homes). Staff said the deal would hedge roughly one-third of the city's aggregation load for 25 years and could yield tens of millions in avoided costs depending on market conditions.
Meg Maloney, Sustainability Division Manager, told the commission the city is negotiating a 25-year renewable energy purchase agreement with AEP Energy Partners to take power and renewable energy credits from the Gem City Solar project (a developer-managed array sited on roughly 600 acres near Little Richmond Road and State Route 49). "So this would act as a long term hedge, to help protect our residents from market volatility and provide, price stability as the agreement is 25 years," Maloney said.
Under the proposed structure the city’s aggregation program, brokered by the Sustainable Ohio Public Energy Council…
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