AGENDA CAPTION:
Title
Consider approval of Resolution 2021-34R, authorizing the City's Electric Utility Division ("SMEU") to implement a voluntary program allowing its customers to purchase certified renewable energy; and declaring an effective date.
Body
Meeting date: March 2, 2021
Department: Public Services - Tom Taggart, Director
Amount & Source of Funding
Funds Required: $0.00
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Fiscal Note:
Prior Council Action: None
City Council Strategic Initiative: [Please select from the dropdown menu below]
Sustainability
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Background Information:
Electric Utility staff has developed a program that will allow its customers to voluntarily select to purchase their energy from certified renewable energy sources. Renewable Energy Credits are a commodity that can be bought, sold, traded though a program managed by the Electric Reliability Council of Texas. These Credits have unique serial numbers that provide a guarantee that the energy purchase is from a renewable source. SMEU staff will procure Credits on behalf of all customers that opt into the program and will "retire" the Credits as the energy is consumed, permanently removing the commodity unit from the market once is was consumed.
The price will initially be a fixed amount of $5 per 1,000 kilowatt-hours consumed. Thi...
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