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Lodi official outlines peaker plant lease terms and city’s electricity payments to the general fund
Summary
City utility staff detailed a 2023 lease of the Department of Water Resources’ peaker plant to Enchanted Rock at $2.8M/year with a five‑year initial term and a three‑year extension option starting in 2028; staff said the city could buy the plant under a right‑of‑first‑refusal but would need to evaluate costs and deliverability.
Utility staff told the council that a peaker plant near Lodi Lake is leased to Enchanted Rock under a contract that began in 2023 and pays the city about $2.8 million per year under the initial five‑year term. The contract includes an option for the state to extend the lease for an additional three years starting in 2028; any extension would include a CPI adjustment.
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