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Galesburg approves 36-month municipal electricity deal and hires consultant for procurement
Summary
The council approved a 36-month electricity supply contract anticipated at about 0.07138¢/kWh and a no-cost engagement with Stone River Group to advise on municipal energy procurement; staff estimated roughly $65,000 in savings over the default rate.
Galesburg officials voted Aug. 19 to approve a 36-month municipal electricity supply agreement and to engage the Stone River Group as an electricity procurement consultant.
City Manager Hansen told the council the recommended contract would fix the city-owned facilities’ supply rate at about "0.07138¢ per kilowatt" and said, "The contract will provide an estimated savings of now around $65,000, over the default rate." Hansen acknowledged the city would accept some downside risk if market rates fell but said the longer term stability justified the term. The council approved both the engagement agreement with Stone River Group (an engagement Hansen described as having "no cost to the city") and the Direct Energy supply agreement by unanimous roll-call votes.
Hansen also said the contract allows the city to continue receiving solar credits and pursue additional renewable energy credits, adding, "This locks this in but nothing prevents us from getting additional renewable energy credits as part of the agreement." Council members asked whether the city could choose a greener rate; Hansen said staff had prioritized local renewable credits and could rebid for a different mix if council directed it. The city expects the agreement to run through October 2027.
