Title
Resolution - Approval of Additional 2021 Power Supply and Energy Management Transaction Delegation of Authority - D Thompson
Other Info
Submitted By: Robyn Miller on behalf of David Thompson
Department: Markets
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
The 2021 Power Supply Plan and 2021 Power Supply Plan Delegation of Authority were previously approved in September 2020. The Power Supply and Energy Management Policy requires delegation of authority for all Power Supply and Energy Management Transactions not included as part of the annual Power Supply Plan.
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, or sell or transfer credits, as discussed by the Board during Executive Session of this meeting, subject to the terms of the Power Supply Transaction 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.