Title
Resolution - Approval of 2019 Power Supply Plan - D Thompson
Other Info
Submitted By: Renee Oelschleger on behalf of David Thompson
Department: Markets
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
The 2019 Power Supply Plan combined with the 2019 Power Supply Plan Delegation of Authority provide the detail and parameters to fulfill the Cooperative’s aggregated electric energy requirements for the calendar year 2019 guided by the objective of providing a low cost and stable power supply. PEC charges Members as defined in the Tariff and Business Rules to recover the Cooperative’s actual cost of power purchased for the membership and other costs incurred in connection with the development and management of the Cooperative’s power supply.
Body
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF PEDERNALES ELECTRIC COOPERATIVE, INC. that the Cooperative authorizes the Chief Executive Officer (“CEO”), or designee, to deliver such notices as may be required by any wholesale power agreement, and to negotiate, execute, and deliver such agreements, notices, confirmations or certificates necessary or appropriate to acquire the electric capacity, energy or other products related thereto as described in the 2019 Power Supply Plan as discussed by the Board during Executive Session of this meeting, subject to the terms and conditions of the 2019 Power Supply Plan Delegation of Authority as discussed by the Board during Executive Session; and
BE IT FURTHER RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that the Chief Executive Officer, or designee, is hereby authorized and directed to do any and all such other things, and take such other actions, as the Chief Executive Officer, or designee, deems necessary to implement this resolution.