City's aggregate electric rate going up

FINDLAY — The electric rate in Findlay's aggregation contract is expected to increase this year, but Service-Safety Director Rob Martin says it's still better than "available alternatives." The city's two-year contract with Energy Harbor LLC, Akron, will expire with the July meter reading. Aggregate members currently pay $.06047/kWh, or a little more than 6 cents per kilowatt-hour. The city's best bid on a new contract was .06540/kWh or just over 6.5 cents per kilowatt-hour, submitted by IGS Energy, Dublin. The agreement covers several city government buildings. In a letter to council, dated May 29, Martin said the new contract will still provide value. Independent Energy Consultants, Aurora, (IEC) bid the contract on behalf of the city. "IEC conducted a thorough bid process and received multiple competitive offers from suppliers for varying terms," said Martin. "While electricity prices have increased compared to our current agreement, primarily due to market volatility and increased demand, new proposals continue to offer the city cost stability and budget predictability through fixed-rate options." Following a review of the bids and prevailing market conditions, Martin said both the consultants and city administrators recommend council agree to a three-year contract. "While there will be minor adjustments in years two and three to reflect updated capacity costs, this approach still presents the most advantageous, long-term pricing strategy," said Martin. Shorter terms are available, he said. Legislation to enter into an electric supply agreement with IGS Energy is expected to be introduced to Findlay Council at today's meeting. Council will meet in regular session at 6 p.m. today in the Findlay Municipal Building, 318 Dorney Plaza. All council meetings are open to the public and are livestreamed on the city's YouTube channel: Findlay Ohio. Editor's Note: This story has been corrected. The contract is for city government buildings. An earlier version of the story reported it as the residential contract.