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Committee advances ordinance authorizing energy procurement through FY2031
Summary
The committee reported favorably on an ordinance authorizing the city to enter agreements to purchase electricity, natural gas and vehicle fuel for city accounts through fiscal years 2029–2031. City energy staff said the approach provides budget certainty and noted recent hedging saved roughly $3.4 million during a January storm.
The Committee on Transportation and Public Utilities reported favorably on bill 260266, which would authorize the city to enter procurement agreements for electricity, natural gas and vehicle fuel for future fiscal years to provide budget certainty and to allow the city to access competitive wholesale markets.
Madeline Hsu, program director for municipal energy in the Office of Sustainability, said the ordinance would permit the city to enter agreements for delivery of energy supplies through fiscal years 2029–2031 via state-regulated, licensed providers…
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