Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH AMERICAN MUNICIPAL POWER ("AMP") TO PURCHASE RENEWABLE ENERGY CERTIFICATES AND OFFER HUDSON PUBLIC POWER CUSTOMERS THE OPTION TO PARTICIPATE IN THE AMP ECOSMART CHOICE PROGRAM.
Executive Summary: The AMP EcoSmart Choice Program allows Hudson Public Power (HPP) customers to support and participate in renewable energy development through the purchase of Renewable Energy Credits (REC's) based on their total monthly electric use. There is no customer contract required. The program is offered to all HPP customers. There is no cost to the City to offer this program. HPP will receive a portion of the total REC sales.
Body
Legislative History
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Purpose & Explanation
In the ongoing efforts to effectively capture more of the benefits of sustainable energies, Renewable Energy Certificates (REC's) can be purchased from sustainable energy resources such as hydro, wind, solar and landfill gas. One REC is equal to 1 MWh (1000 KWh = 1 MWh) of electricity generated from a renewable energy source. For each REC that is purchased, one MWh of non-renewable electric generation is offset. The EcoSmart Choice Program will allow Hudson Public Power customers the option of offsetting their total monthly electric usage with renewable energy resources.
Examples:
The additional price per Kwh to participate in the program is .007. If a customer uses 750 KWh in a month, the EcoSmart Choice Program will purchase an equal number of RECs to match that monthly usage, and the customer would pay an additional $5.25 as part of their normal utility bill that month. HPP will receive .002 of each .007 Kwh sale.
For larger commercial and industrial users, there is an option to purchase REC's in 1 MWh blocks (1000 KWh's) at a cost of 7.00 per block. HPP would receive 2.00 of each block sale.
The agreement between the City and AMP is for REC purchasing purposes and is for a two (2)-year term. REC ra...
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