HomeMy WebLinkAboutStaff Report 1358City of Palo Alto (ID # 1358)
City Council Staff Report
Report Type: Consent Calendar Meeting Date: 3/7/2011
March 07, 2011 Page 1 of 2
(ID # 1358)
Title: Status of Energy Risk Management Policy
Subject: Deferral of Status of Energy Risk Management Policy
From:City Manager
Lead Department: Administrative Services
Recommendation
Staff recommends that the Council delay approval of the City of Palo Alto’s Energy Risk
Management Policy until after it adopts the Gas Utility Long-term Plan, the Long-term Electric
Acquisition Plan, and the Utilities Strategic Plan.
Background
The City of Palo Alto’s Energy Risk Management Policy serves as the overriding document for
the monitoring of risks associated with electric and gas commodity transactions. This Policy
must be reviewed by the City Council on an annual basis. On January 18, 2011, staff requested
that the City Council review and approve this Policy (CMR:101:11). At that meeting, the Council
continued the item and directed staff to return with the Energy Risk Management Policy at the
same meeting that the proposed Gas Utility Long-term Plan (GULP) is on the agenda.
Discussion
The purpose of this report is to inform the Council that staff plans to delay approval of the
Energy Risk Management Policy until after the adoption of the GULP, the Long-term Electric
Acquisition Plan (LEAP), and the Utilities Strategic Plan. This will enable staff to incorporate the
changes resulting from these plans into the Risk Management Policies. By doing so, staff will
ensure that the annual Energy Risk Management Policy is consistent with these initiatives. Staff
anticipates returning to Council with an updated Energy Risk Management Policy prior to the
end of fiscal year 2010-11.
Attachments:
·Attachment A: CMR 101:11 Adoption of the Energy Risk Management Policy (PDF)
Prepared By:Melissa Cavallo, Financial Analyst
March 07, 2011 Page 2 of 2
(ID # 1358)
Department Head:Lalo Perez, Director
City Manager Approval: James Keene, City Manager