Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Contracts topic
No spam. Unsubscribe anytime.
Staff asks commission to consider extending wholesale MRS agreement to support long-term financing
Summary
Director reported MRS asked S1 members to consider extending member contracts (typically renewed in 10-year increments) potentially to 2067; Hutchinson's contract runs to January 2046 and staff will circulate the contract for review.
Director told the commission staff recently met with Matt Scholder, CEO of MRS, and Terry Wolf, MRS's chief operating officer, to review Hutchinson's base-load wholesale contract. MRS asked S1 members to consider extending their contracts in 10-year increments to align terms (MRS seeks effectively 40-year terms under Iowa law) and the director asked commissioners to begin considering whether to extend Hutchinson's agreement.
Director said Hutchinson's contract currently runs to January 2046 (about 20 years remaining) and that some other members have differing remaining terms. “They asked us to consider if we'd be willing to extend the contract…so I just want you to start thinking about that,” Director said. Staff will send the commission the existing contract for review; no formal vote or decision was taken at the meeting.
