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Pembroke notes five-year municipal electricity supply agreement with Constellation; members discuss blend-and-extend language
Summary
The committee reviewed the Select Board's decision to extend a five-year municipal electricity supply agreement with Constellation at roughly 10.05 cents per kWh and discussed contract language and termination implications raised during Select Board review.
The Chair reported that the Select Board had recommended and signed a five-year extension with Constellation for municipal electricity supply. "We did recommend and sign a new agreement with Constellation, essentially extending our municipal electricity supply contract," the Chair said, adding the contract length is five years and the parties landed in the mid-10 cents-per-kilowatt-hour range in their discussion.
Committee members asked about "blend-and-extend" contract language and how termination or liability would operate if market conditions change; the Chair said the Select Board judged the missing blend-and-extend language not to be a dealbreaker. Members requested a document or the countersigned agreement be circulated for committee records and clarity on any termination exposures.
