Title
TO AUTHORIZE THE DIRECTOR OF PUBLIC SERVICE TO NEGOTIATE AND THE MAYOR TO ACCEPT AND ENTER INTO CONTRACT FOR ELECTRIC RATE; TO REPEAL ORD-0057-2014; AND TO DECLARE AN EMERGENCY.
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WHEREAS, through ORD-0139-2010 Gahanna has been in an agreement with AEP Retail Energy Partners (aka AEP Energy) for the generation portion of our electric bills since October 2010 and our power rate has been $65/mwh, which is saving the City about $30,000 a year; and
WHEREAS, through ORD-0025-2013 Gahanna renegotiated the contract with AEP to a further reduced rate of $59.84/mwh, which will expire at the end of 2014; and
WHEREAS, currently the market is not favorable for a blend and extend on the existing contract which was previously approved by ORD-0057-2014 and the City would like to be securing a price to take effect when said contract expires at the end of 2014; and
WHEREAS, electric rates are being monitored for the best rate; however, the City cannot lock-in a price without first signing an agreement; and
WHEREAS, to accomplish this it is necessary to authorize the Director of Public Service to negotiate and the Mayor to enter into contract for electric rate; and
WHEREAS, it is imperative to move forward with this Ordinance so that the City can take advantage of the best possible rate for electric service, and all for the preservation of the public peace, property, health, safety and welfare;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That the Director of Public Service is hereby authorized to negotiate and the Mayor is authorized to enter into contract for electric rate.
Section 2. That ORD-0057-2014 is hereby repealed.
Section 3. That, for the reasons set forth in the preamble hereto and incorporated herein by this reference, this Ordinance is declared emergency legislation and will be in full force and effect upon passage by Council and the signature of approva...
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