Title
Resolution - Approval of Power Supply Contractual Resources - D Thompson
Other Info
Submitted By: David Thompson
Department: Markets/Power Supply
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session and provided for in Schedule 1.
Discussion
The Cooperative obtains the majority of its power from the Lower Colorado River Authority (LCRA) pursuant to the Amended and Restated Wholesale Power Agreement with LCRA dated as January 5, 2011, as amended. PEC has been requested to evaluate certain contractual rights as to the power supply portfolio as further described on Schedule 1.
Body
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF PEDERNALES ELECTRIC COOPERATIVE, INC. that the Cooperative in its best interests approves a conditional waiver or assignment of certain contractual rights with respect to its power supply portfolio on the terms as discussed in Executive Session;
BE IT FURTHER RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that the Chief Executive Officer, or designee, is authorized to take such actions as needed to implement this resolution.