Title
Draft Resolution - Approval of the Power Supply and Energy Management Policy -
L Cunningham
Other Info
Submitted By: Robyn Miller on behalf of David Thompson
Department: Markets
Financial Impact and Cost/Benefit Considerations: None
Discussion
The Cooperative manages the purchase of electric energy for its members. The Power Supply and Energy Management Policy is intended to detail current practices as well as establish and govern a sustained commitment to create and maintain a formal Power Supply and Energy Management Program that cost-effectively manages PEC’s power supply and energy requirements to meet the objectives established in the Policy including, low cost power supply, balancing risk in its power supply portfolio, and general power supply portfolio diversity. The Policy requires the creation of annual Power Supply Plans targeted to fulfill the membership’s electric energy requirements for the upcoming year in light of the specified objectives of the Policy.
The Policy will serve to guide the Cooperative as to its purchases for its members and supersedes the Resource Planning Policy adopted in December 2010, which included an integrated resource planning process for power supply needs and also supersedes any previous board resolutions establishing targets or priorities as to portfolio diversity to meet the Cooperative’s energy requirements. In addition, the adoption of the Power Supply and Energy Management Policy is intended to fulfill any requirements for consideration of environmental impacts of its power supply purchases as provided in the Board’s Environmental Policy adopted in November 1981.
Body
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF PEDERNALES ELECTRIC COOPERATIVE, INC. that the Cooperative adopt the Power Supply and Energy Management Policy, that was presented to and discussed by the Board this day, with such changes thereto, if any, as were discussed and approved by the Board; and
BE IT FURTHER RESOLVED that the adoption of the Power Supply and Energy Management Policy supersedes such policies and resolutions of the Cooperative and fulfills such other requirements instituted by policies of the Cooperative as described herein; and
BE IT FURTHER RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that the CEO, or designee, is authorized to take all such other actions necessary to implement this resolution.