CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Receive the Electric Utility presentation regarding Sale of the Utility and concur with the proposed agenda for the September 28 strategy workshop
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DEPARTMENT: City Manager's Office
SUBMITTED BY: Douglas A. Krieger, City Manager
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
For 125 years, the Electric Utility ("Utility") has provided reliable electric service to Naperville's residential and business communities. As a municipally owned utility, day-to-day operations are overseen by a professional director, with the City Council receiving recommendations from Public Utilities Advisory Board, and ultimately serving in a role like that of a privately owned utility's board of directors.
The Utility's current power provider, the Illinois Municipal Electric Agency (IMEA), has been providing services to the City since 2007, and electricity to Naperville since 2011. The IMEA serves 32 municipal electric utilities across the state by securing required capacity and energy for its member communities. In addition to providing power, the IMEA also handles several administrative, legal, and regulatory services for the Utility.
The City Council has directed staff to prepare a series of presentations covering all options available to the City for procuring energy beyond the end of the existing IMEA contract.
The first presentation on April 7 focused on reviewing the Electric Utility's mission, key dates, and the timeline that will impact the decisions moving forward.
Option #1, joint action agencies, was presented on May 5.
Option #2, market participation with asset ownership, was presented on June 16.
Option #3, market participation without asset ownership, was presented on July 21.
DISCUSSION:
The August 18 presentation will focus on Option #4, the sale of the utility. This will be the final option discussed.
The goal of these presentations has been to provide the City Council with a shared baseline of knowledge on ...
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