R2008-70 AUTHORIZING CITY MANAGER TO CONDUCT AN ELECTRICITY PROCUREMENT AND EXECUTE A CONTRACT

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The City received qualifications proposals from: • Ameren Energy Marketing • Constellation New Energy Strategic Energy submitted a proposal three weeks late and will not be considered. The suppliers who did not submit a proposal were polled to determine the reason they did not respond. The responses were: Not able to submit due to other commitments: MidAmerican Energy Sempra Energy Solutions Not able to offer service in Ameren service area at this time: Spark Energy Vanguard Energy Services No response when polled: PEPCO Energy Services Suez Energy Resources NA, Inc. Price Proposal Responses—May 2008 On Monday, May 19, 2008 the City will receive price proposals from the following qualified suppliers: • Ameren Energy Marketing • Constellation New Energy The price proposals will be evaluated and the City staff will report on the status of the bids at the scheduled City Council meeting on Monday, May 19, 2008. The City is accepting pricing for over 120 accounts including the accounts in the current contract. The City is seeking a contract for service to begin on the June 2008 meter read date for contract terms of 12 months, 24 months, 36 months, and 48 months. Market rates are at record highs. The City will also consider supplier options that may provide alternative pricing strategies to lower prices until market conditions improve. Electricity supply services are a commodity. Prices are offered daily at the trading exchanges and the customer must transact a contract when the market is open and prices can be confirmed on the trading floor. The staff has requested the suppliers submitting Price Proposals keep prices valid on the day the Proposals are submitted up until 7:00 pm CST or until the contract is approved by the City Council.