Fiscal Note
Funds are available in the Monona Terrace Operating Budget. The budgeted amount for electricity ($375,897 in 2011) anticipates authorization of this electric service agreement. The discount received in exchange for the ability to have service interrupted is $4,300 per month.
Title
Authorizing a three-year electric service agreement between the City and Madison Gas and Electric Company for the purchase of electricity at Monona Terrace, and establishing the ability for the electric service to be interrupted in exchange for a discounted rate.
Body
WHEREAS, since July 3, 1997 the City has had an "Electric Service Agreement for the Purchase of Direct Control Interruptible Electric Service" with Madison Gas and Electric Company (MG&E) for the purchase of electricity for the use at the Monona Terrace Community and Convention center and
WHEREAS, the discount has been applied as a credit towards the purchase of electricity at Monona Terrace; and
WHEREAS, service has been interrupted only once in ten years and the City's generators can provide electric energy during any period of interruption; and
WHEREAS, the 1997 agreement has been renewed three times and is due to expire in July 2011, and the City feels it is in the best interest of the City to renew the agreement for another three-year term, at the prices indicated in rate schedules [Is-2, Cg-2 and STIR] currently on file with the Wisconsin Public Service Commission, and with other modifications as appropriate.
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and City Clerk are authorized to enter and sign on behalf of the City, a three-year "Electric Service Agreement for the Purchase of Direct Control Interruptible Electric Service" with Madison Gas and Electric Company, at the rates established in the above-listed PSC schedules.