Brett Wilkison, THE PRESS DEMOCRAT
Officials with Sonoma County’s startup public power agency on Tuesday signed a primary energy contract with Constellation, touting the deal with the large national power producer and retailer as one that would allow them to beat customer rates proposed for 2014 by PG&E, the region’s dominant utility.
The three-year contract with the subsidiary of Chicago energy giant Exelon Corp. is likely to be one of the biggest short-term business deals ever struck by a locally based government entity.
The contract, which is designed to provide the bulk of the public venture’s initial energy supply, is worth under $70 million just for the first wave of 20,000 largely commercial customers. By 2017, when up to 120,000 mostly residential accounts are on board, total wholesale energy expenditures for the power agency, including the main contract and secondary deals, are projected at $115 million annually.
via Sonoma Clean Power signs deal with Constellation – Watch Sonoma County.