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Council approves five-year Constellation Energy contract; administration cites lower rate
Summary
Council approved a five-year contract with Constellation Energy after administration recommended the longer term; the recommended rate was stated as about 8.5¢ per kilowatt-hour and described as cheaper than PECO's typical rate.
Councilmember Jen Malcoon presented the Constellation Energy agreement to the council and said the term under consideration includes five years. Foreman noted administration recommended a longer-term contract and that the current five-year rate was cheaper than the rates discussed previously. "The 5 year contract is what the administration is recommending. It's, like 8.5¢, per kilowatt hour," Malcoon said during the presentation.
Council discussed rate options briefly and then voted to approve the five-year Constellation Energy agreement unanimously. Finance and public-works staff will complete the contract paperwork and monitor billing against the municipal budget and PECO comparators.
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