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Radford council OKs emergency measure to allow utility director to buy congestion hedges, caps exposure at $630,000
Summary
Council adopted an emergency resolution delegating authority to the utility director (with city manager approval) to purchase congestion hedges and bid on financial transmission rights to manage transmission congestion risk, setting a not-to-exceed exposure of $630,000 for June 1, 2026–Dec. 31, 2028.
Radford City Council on March 23 adopted an emergency resolution delegating authority to the utility director, subject to city manager approval, to manage transmission-congestion risk through financial transmission rights (FTRs) and related hedging agreements.
Mayor Horton read the resolution, which frames the step as necessary to mitigate pricing exposure associated with delivering fixed energy supply…
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