Title
TO AUTHORIZE THE MAYOR TO ENTER INTO CONTRACT WITH AEP RETAIL ENERGY PARTNERS, LLC, FOR POWER SALES AGREEMENT FOR THE GENERATION PORTION OF THE CITY OF GAHANNA PROPERTIES', ELECTRIC BILLS; AND TO DECLARE AN EMERGENCY.
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WHEREAS, competition for the generation portion of electric bills has entered the central Ohio market; and
WHEREAS, electric rates are extremely low, but the City cannot lock in a price without first signing an agreement; and
WHEREAS, quotes were obtained and AEP Retail is projecting the greatest amount of savings and the Director of Public Service has recommended we proceed with them; and
WHEREAS, AEP Retail will forward to the City quotes for 12, 24, 36 and 38 month agreements and the Director of Public Service will evaluate the rates and have the agreement reflect the time frame that seems to most benefit the City; and
WHEREAS, it is imperative to move forward with this ordinance so that the City can lock in the lowest possible price 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, STATE OF OHIO:
Section 1. That the Mayor is hereby authorized to enter into contract with AEP RETAIL ENERGY PARTNERS, LLC, 325 John McConnell Boulevard, Suite 225, Columbus, Ohio 43215, for Power Sales Agreement for the generation portion of the City of Gahanna properties' electric bills; Contract attached as EXHIBIT A, and made a part herein.
Section 2. That based on the evaluation of the options presented by AEP to the Director of Public Service the Mayor is authorized to sign the agreement which reflects the best benefit to the City, whether it be a 12, 24, 36 or 38 month agreement.
Section 3. That, for the reasons set forth in the preamble herein above, this ordinance is declared emergency legislation and shall be in full force and effect immediately upon passage and on date...
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