Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Energy Contracts topic
No spam. Unsubscribe anytime.
WPPI urges Algoma to extend power contract to finance transmission projects, cites potential savings
Summary
A WPPI representative asked the Algoma council to approve a long-term contract extension so the utility group can finance transmission and generation projects; WPPI said prepay financing could reduce power-supply costs by about 10%.
Mike, a representative of WPPI, told the Algoma City Council that WPPI is Algoma’s wholesale power supplier and that long-term contract stability is needed to finance upcoming transmission and generation investments. He said the group’s current contract structure supports multi-decade financing and that members are being asked to extend agreements to enable planned projects.
"If you have a contract with Algoma you have the same contract as every one of our members large and small doesn't make any difference," Mike said, describing the member-based finance model WPPI uses. He said WPPI’s current contract
