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The price proposals will be evaluated and the City staff will report on the status of the bids at the <br /> scheduled City Council meeting on Monday, May 3, 2010. <br /> The City is accepting pricing for 89 accounts including the accounts in the current contract. The <br /> City is seeking a contract for service to begin on the June 2010 meter read date for contract terms <br /> of 12 months, 24 months, and 36 months. The City will also consider supplier options that may <br /> provide alternative pricing strategies to lower prices until market conditions improve. <br /> Electricity supply services are a commodity. Prices are offered daily at the trading exchanges and <br /> the customer must transact a contract when the market is open and prices can be confirmed on <br /> the trading floor. The staff has requested the suppliers submitting Price Proposals keep prices <br /> valid on the day the Proposals are submitted up until 7:00 pm CST or until the contract is <br /> approved by the City Council. <br /> Attached are five resolutions, one of which will be presented to the City Council on Monday <br /> evening which awards the energy bid to one of the alternative retail energy suppliers and <br /> authorizes the City Manager to work with the Consultant and Finance Director to work out the <br /> final details of the contract. <br />