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Council adopts power sales renewal agreement updating Kataba references and supplemental terms
Summary
Council approved a PMPA purchase power sales renewal that removes language tied to a nuclear plant that was not completed and unwinds intertwined supplemental agreements; staff said the changes should improve the city's financial position and accommodate sale of excess capacity.
Clinton City Council voted to adopt a resolution renewing the municipal purchase power sales agreement with the Piedmont Municipal Power Agency (PMPA) and to unwind related supplemental agreements.
Staff explained the prior agreement contained references to a nuclear plant (referred to in the meeting as the "Kataba" project) that had not been completed; the renewal removes references premised on construction assumptions and separates the main power sales agreement from supplemental agreements. The renewal also updates provisions to account for a license extension for the project and covers the mechanics for sale of excess capacity, which staff said should leave the city in a stronger financial position.
Council moved and approved the resolution by voice vote. No specific fiscal numbers were given in the discussion during the meeting, though staff said the change is expected to produce cost savings and improve the municipality's position in future power transactions.
