Agenda - West Essex Regional School District / Overview

West Essex Regional Board of EducationFINANCE – July 15, 201310. (continued) awarded to electric power suppliers following said bids for electricgeneration services pursuant to the aggregation program; andWHEREAS, the Lead Agency will from time to time during the EffectivePeriod (from date of adoption through May, 2014 hereinafter referred to as“Effective Period”) issue one or more Requests for Bids for electric generationservices on behalf of the ACES Cooperative Pricing System pursuant to the PublicSchool Contracts Law and EDECA; andWHEREAS, due to significant volatility and the potential for price increasesin the wholesale electric market, Participating Members will preauthorize theLead Agency to award contracts for Electric Generation Service in each serviceterritory to one or more electric power suppliers that submit bids which arereasonably forecasted to provide estimated savings to the Participating Memberbased upon its previous electric usage and utility provided Basic GenerationService rates; andWHEREAS, the Lead Agency will only award contracts for said electricgeneration services to electric power suppliers that submit bids with pricingreasonably estimated to be lower than the utility-provided basic generationservice; andWHEREAS, the District agrees to purchase all electric power needed for itsown use (exclusive of on-site electric generation sources) during the EffectivePeriod through any electric power supplier(s) awarded a contract, it beingunderstood that the term of any one contract shall be subject to the provisions ofPublic School Contracts Law;WHEREAS, the Lead Agency will notify the Department of CommunityAffairs’ Division of Local Government Services by mail prior to the issuance aRequest for Bids for electric generation services, with the understanding that ifthe Division of Local Government Services does not respond within 10 businessdays, it will be deemed to have approved the issuance of the Request for Bids orthe Request for Rebids.NOW, THEREFORE, BE IT RESOLVED that the District binds itself to theACES Cooperative Pricing System #E8801-ACESCPS to purchase all electric powerneeded for its own use (exclusive of on-site electric generation sources) duringthe Effective Period from the electric power supplier or suppliers awarded acontract for electric generation services by the Lead Agency; and,BE IT FURTHER RESOLVED that the Lead Agency of the ACES CooperativePricing System is hereby authorized to execute a master performance agreementthat obligates the district to purchase electricity at the terms and conditionsstated therein with a third-party supplier or suppliers who have been awardedthe contract or contracts by the Lead Agency on behalf of the participatingmembers of the ACES Cooperative Pricing System #E8801-ACESCPS (or any CPSnumber to be assigned in the future), and provided further that all such contractsshall be at prices reasonably forecast and estimated by the Lead Agency toprovide savings to the Districts relative to the price charged for basic generationservice by the electric public utility that would otherwise provide such service;and,5