Title
Resolution - Approval of Amendment to 2024 Power Supply Delegation of Authority - D Thompson/R Kruger
Other Info
Submitted By: David Thompson
Department: Markets
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
The 2024 Power Supply Plan and Power Supply Transactions and related Delegations of Authority were approved by the Board of Directors at the Board meeting in October 2023. The Board also approved an addition to its Delegation of Authority in February 2024. The 2024 Power Supply Plan combined with the 2024 Power Supply Plan Delegation of Authority provide the detail and parameters to fulfill the Cooperative’s aggregated electric energy requirements for the calendar year 2024 guided by the Power Supply and Energy Management Policy.
An amendment to the Delegation of Authority is recommended to meet the goals of the 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, or designee, to further negotiate, execute, and deliver such agreements, notices, confirmations or certificates necessary or appropriate to acquire the electric capacity, energy, and/or other products related thereto as discussed by the Board during Executive Session of this meeting, and subject to the conditions as discussed by the Board during Executive Session of this meeting; and
BE IT FURTHER RESOLVED that the Chief Executive Officer, or designees, are hereby authorized and directed to take all such action as may be necessary to effectuate this resolution.