Title
Resolution - Approval of Amendments to the Power Supply and Commodity Risk Policy -R Kruger
Other Info
Submitted By: Randy Kruger
Department: Markets
Financial Impact and Cost/Benefit Considerations: None.
Discussion
In November 2024 (2024-333), the Pedernales Electric Cooperative Inc. (PEC or Cooperative) Board of Directors approved the Power Supply and Commodity Risk Policy (Policy) and confidential Power Supply Policy Appendix (“Appendix”) to the Policy. Through the Policy, the Board delegated authority regarding the Cooperative’s power supply purchases to the newly created Power Supply Committee (PSC).
The Policy requires the PSC to conduct an annual review and make recommendations for any changes to the Policy or the Appendix to the Board of Directors. As a result of its annual review, the PSC recommends minor amendments to the Appendix to modify certain compliance requirements, power and transaction limits, and risk exposure.
Body
now, therefore, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF PEDERNALES ELECTRIC COOPERATIVE, INC. that the amendments to the confidential Appendix to the Policy as discussed in Executive Session are approved; and
BE IT FURTHER RESOLVED BY THE BOARD OF DIRECTORS OF PEDERNALES ELECTRIC COOPERATIVE, INC. that the Chief Executive Officer, or designee, is authorized to take all such other actions necessary to implement this resolution.