Title
Authorizing the City of Philadelphia to enter into purchase obligations for the delivery of electric supply for use by facilities owned and leased by the City, including agreements that obligate payments for delivery of electric supply in Fiscal Year 2015, subject to certain terms and conditions.
Body
WHEREAS, The passage in 1996 by the Commonwealth of Pennsylvania of the "Electricity Generation Customer Choice and Competition Act," 66 Pa. C.S. ยง 2801 et seq., made it possible for the City of Philadelphia ("City") and all consumers of electricity to have direct access to the competitive market for the generated supply of electricity; and
WHEREAS, The termination of rate caps on December 31, 2010 for the Philadelphia Region required the City to investigate the various ways the City may purchase in the competitive market to achieve price stability, lower costs and reliability; and
WHEREAS, By Ordinance (Bill No. 100368, approved June 30, 2010) the City was authorized to enter into purchase obligations for the delivery of electric supply for use by facilities owned and leased by the City, for Fiscal Years ("FY") 2011, 2012, 2013 and 2014; and
WHEREAS, By Executive Order No. 6-10, "City Purchase of Electricity Supply" (November 3, 2010), an Electricity Supply Advisory Committee was established and has been maintained; and
WHEREAS, The Electricity Supply Advisory Committee is composed of the Chair of the City Council Committee on Transportation and Utilities, the Chair of the City Council Committee on Public Property, the Chair of the City Council Committee on the Environment, the City Solicitor, the Deputy Mayor for Transportation and Utilities, the Finance Director and the Procurement Commissioner; and
WHEREAS, The City with advice and approval of the Electricity Supply Advisory Committee the City has entered into purchase obligations for FY 2011, FY 2012, FY 2013 and FY 2014; and
WHEREAS, Electricity prices are at favorable...
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