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WPPI Energy proposes 18-year contract extension for Lodi; committee hears presentation
Summary
Mike Peters, WPPI Energy President/CEO, told the committee WPPI seeks an 18-year extension to support long-term planning and aims to finalize contracts by year-end; committee members noted past extensions were influenced by WPPI's reputation and rates.
Mike Peters, president and CEO of WPPI Energy, presented to the committee and described a proposal for an 18-year extension of the city’s WPPI contract, saying long-term agreements are needed for WPPI’s long-range planning and that the utility is trying to have contracts wrapped up by year-end. "They are proposing an 18-year extension of our contract," Peters said during his presentation.
Committee Chair Rich Stevenson recalled that earlier decisions on WPPI contract extensions had centered on WPPI’s reputation and its cost-effective rates. No formal recommendation or vote on a contract extension occurred at the Aug. 4 Committee of the Whole meeting; the presentation was informational.
