HomeMy WebLinkAboutRESO 9225Resolution No. 9225
Resolution of the Council of the City of Palo Alto Approving the Execution
of Master Renewable Energy Certificate Purchase and Sale Agreement with
Thirteen Suppliers at an Annual Expenditure Not Exceeding $1,500,000
During Calendar Years 2012-2016
A. The City of Palo Alto (the "City") provides electricity to residential and
commercial customers located within its jurisdictional boundary.
B. The Council approved the 'green power program' rate schedules in March 2003,
establishing the PaloAltoGreen local energy program (the "P AG Program"), which has achieved
the highest participation rate of any 'green power program' in the United States.
C. The PAG Program would require the City to engage in the purchases (and
incidental sales) of renewable energy certificates ("RECs") to meet the PAG Program's retail
customer demands in a competitive manner.
D. The City Manager would negotiate and execute the Master Renewable Energy
Certificate Purchase and Sale Agreement (the "Master Agreement"), the form of which is
attached, for the purpose of transacting in RECs in order that the City can access a wider pool of
suppliers in an expeditious m~er.
NOW, THEREFORE, the Council of the City of Palo Alto does hereby resolve, as
. follows: •
SECTION 1. The Council hereby authorizes the City Manager, or his designee, to
negotiate and sign· the Master Agreements with the following suppliers in connection with the
purchases (and incidental sales) of RECs in furtherance of the PAG Program. The annual
appropriation for the RECs purchases shall not to exceed the annual expenditure amount of one
million five hundred thousand dollars ($1,500,000) during calendar years 2012 through 2016,
inclusive.
1. 3Degrees Group, Inc.
2. Bonneville Environmental Foundation
3. Constellation Energy Commodities Group
4. EDF Trading North America, LLC
5. Element Markets, LLC
6. Idaho Wind Power Partners 1, LLC
7. Lakeview Green Energy, Inc.
8. Nexant, Inc.
9. N extEra Energy Power Marketing, LLC
10. Pacific Corp.
11. Powerex Corp.
12. Shell Energy North America (US), L.P.
13. Sterling Planet Holdings, Inc.
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