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HomeMy WebLinkAboutRESO 102041 070420 syn 6056906 Resolution No. 10204 Resolution of The Council of The City of Palo Alto Authorizing the City Manager or Their Designee to Transact Electric Supplies to Meet the City’s Electrical Loads Under Electric Master Agreements, Under Specified Terms and Conditions During Calendar Years 2025 Through 2039, Inclusive SECTION 1. The City Council finds, as follows: A. By Resolution 9324 adopted in 2013, the City Council authorized the City Manager or their Designee to transact electric supplies to meet the City’s electrical loads under Electric Master Agreements with suppliers during a 15-year delivery period, between calendar years 2013 through 2027, under the following conditions; I. The maximum term of any transaction shall not exceed three years, commencing on the date of execution of the transaction; II. No transaction entered into shall extend beyond December 31, 2027; III. The maximum expenditure under any Master Agreement shall not exceed $50 million in the aggregate; B. The Resolution also found that Council’s approval of an Energy Risk Management Policy, via Resolution 9272, provided for the oversight and controls necessary to manage risks inherent in transacting electric supply under the Master Agreements; the Risk Management Policy has since been updated, most recently in June 2024 via Resolution 10166. C. Since the authorization provided in 2013 via Resolution 9324, staff has undertaken over 200 transactions totaling $131.9 million, of which $1.6 million is for delivery during or after January 2025; D. In December 2016, via Resolution 9652, Council approved a standard form electric master agreement based on the year 2000 version of the Edison Electric Institute (EEI) Master Power Purchase and Sale Agreement. This standard form agreement has been made available to any wholesale utility supplier on the City’s website since that time; however, execution of, and delegation of authority to transact under, standard form master agreements with specific suppliers remains subject to Council approval before any transactions may be completed. The Council of the City of Palo Alto does RESOLVE as follows: SECTION 2. The Council once again authorizes the City Manager or their designee to execute one or more transactions under Council-approved Master Agreements with pre- approved suppliers to purchase and/or sell electricity supplies and related services to meet the City’s forecasted electricity load and regulatory requirements. Docusign Envelope ID: C96B1CC4-C5F3-42E0-B3DC-05C79A3EEECB 2 070420 syn 6056906 SECTION 3. The authorization referenced in Section 2 is subject to the following requirements: (a) the maximum expenditure under any Master Agreement shall not exceed $75 million in the aggregate and, with respect to outstanding transactions referred to in Section 1.C, the respective amounts shall be applied against the maximum expenditure established herein; and (b) the maximum term of any transaction shall not exceed three years, commencing on the date of execution of the transaction. The sentence preceding notwithstanding, the City may enter into a transaction greater than three years, if the Council grants prior approval to such transaction. SECTION 4. No Master Agreement and any related transaction entered into with any qualified supplier, executed by the City Manager or his designated representative and approved as to form by the City Attorney, under the authority of this ordinance shall extend beyond December 31, 2039. SECTION 5. The suppliers that have Master Agreements with the City and authorized to transact are listed below, and the supplier list could be expanded to additional suppliers with future approval from the City Council. a. BP Energy Company; b. Cargill Power Markets, LLC; c. Constellation Energy Generation, LLC; d. Avangrid Renewables, LLC; e. NextEra Energy Marketing, LLC; f. PacifiCorp; g. Powerex Corp; h. Shell Energy North America (US), L.P.; i. Silicon Valley Clean Energy Authority (SVCE); and j. Turlock Irrigation District. // // // // // Docusign Envelope ID: C96B1CC4-C5F3-42E0-B3DC-05C79A3EEECB 3 070420 syn 6056906 SECTION 6. The Council hereby finds that authorizing the City Manager or their designee to transact for electric supplies to meet the City’s electrical loads under electric Master Agreements does not constitute a project for the purposes of the California Environmental Quality Act, pursuant to California Public Resources Code Section 21065, and, therefore, no environmental assessment is required. INTRODUCED: DECEMBER 16, 2024 PASSED: DECEMBER 16, 2024 AYES: BURT, KOU, LAUING, LYTHCOTT-HAIMS, STONE, TANAKA, VEENKER NOES: ABSTENTIONS: ABSENT: ATTEST: _____________________________ _____________________________ City Clerk Mayor APPROVED AS TO FORM: APPROVED: _____________________________ ______________________________ Assistant City Attorney City Manager ______________________________ Director of Administrative Services ______________________________ Director of Utilities Docusign Envelope ID: C96B1CC4-C5F3-42E0-B3DC-05C79A3EEECB Certificate Of Completion Envelope Id: C96B1CC4-C5F3-42E0-B3DC-05C79A3EEECB Status: Completed Subject: RESO 10204 - Transact for Electric Supplies to Meet the City’s Electrical Needs Source Envelope: Document Pages: 3 Signatures: 6 Envelope Originator: Certificate Pages: 5 Initials: 0 Christine Prior AutoNav: Enabled EnvelopeId Stamping: Enabled Time Zone: (UTC-08:00) Pacific Time (US & Canada) 250 Hamilton Ave Palo Alto , CA 94301 Christine.Prior@CityofPaloAlto.org IP Address: 199.33.32.254 Record Tracking Status: Original 12/19/2024 3:56:38 PM Holder: Christine Prior Christine.Prior@CityofPaloAlto.org Location: DocuSign Security Appliance Status: Connected Pool: StateLocal Storage Appliance Status: Connected Pool: City of Palo Alto Location: DocuSign Signer Events Signature Timestamp Amy Bartell Amy.Bartell@CityofPaloAlto.org Assistant City Attorney City of Palo Alto Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 172.101.211.187 Sent: 12/19/2024 3:59:35 PM Viewed: 12/19/2024 4:23:41 PM Signed: 12/19/2024 4:26:18 PM Electronic Record and Signature Disclosure: Accepted: 7/16/2015 5:52:40 AM ID: d8ecb53d-ef81-4016-8886-1560c48de42a Alan Kurotori Alan.Kurotori@CityofPaloAlto.org Utilities Chief Operating Officer COPA Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 199.33.32.254 Sent: 12/19/2024 4:26:19 PM Viewed: 12/20/2024 11:45:58 AM Signed: 12/30/2024 9:00:25 AM Electronic Record and Signature Disclosure: Not Offered via DocuSign Lauren Lai Lauren.Lai@CityofPaloAlto.org Director Administrative Services/CFO COPA Security Level: Email, Account Authentication (None) Signature Adoption: Drawn on Device Using IP Address: 199.33.32.254 Sent: 12/30/2024 9:00:27 AM Viewed: 12/30/2024 12:55:14 PM Signed: 12/30/2024 12:57:31 PM Electronic Record and Signature Disclosure: Not Offered via DocuSign Ed Shikada Ed.Shikada@CityofPaloAlto.org Ed Shikada City of Palo Alto Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 73.231.231.68 Sent: 12/30/2024 12:57:32 PM Viewed: 1/2/2025 9:00:14 AM Signed: 1/2/2025 9:00:21 AM Electronic Record and Signature Disclosure: Not Offered via DocuSign Signer Events Signature Timestamp Greer Stone Greer.Stone@CityofPaloAlto.org Vice Mayor Security Level: Email, Account Authentication (None)Signature Adoption: Pre-selected Style Using IP Address: 76.102.130.41 Sent: 1/2/2025 9:00:23 AM Viewed: 1/2/2025 10:32:55 AM Signed: 1/2/2025 10:33:05 AM Electronic Record and Signature Disclosure: Not Offered via DocuSign Mahealani Ah Yun Mahealani.AhYun@CityofPaloAlto.org City Clerk Security Level: Email, Account Authentication (None)Signature Adoption: Pre-selected Style Using IP Address: 199.33.32.254 Sent: 1/2/2025 10:33:07 AM Viewed: 1/2/2025 2:43:12 PM Signed: 1/2/2025 2:43:17 PM Electronic Record and Signature Disclosure: Not Offered via DocuSign In Person Signer Events Signature Timestamp Editor Delivery Events Status Timestamp Agent Delivery Events Status Timestamp Intermediary Delivery Events Status Timestamp Certified Delivery Events Status Timestamp Carbon Copy Events Status Timestamp Witness Events Signature Timestamp Notary Events Signature Timestamp Envelope Summary Events Status Timestamps Envelope Sent Hashed/Encrypted 12/19/2024 3:59:35 PM Certified Delivered Security Checked 1/2/2025 2:43:12 PM Signing Complete Security Checked 1/2/2025 2:43:17 PM Completed Security Checked 1/2/2025 2:43:17 PM Payment Events Status Timestamps Electronic Record and Signature Disclosure CONSUMER DISCLOSURE From time to time, City of Palo Alto (we, us or Company) may be required by law to provide to you certain written notices or disclosures. 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