Naperville officials are weighing a possible overhaul of how the city purchases electricity, one that could give city leaders more control but also require up to $39 million in deposits and reserves, along with more frequent utility rate reviews.
What happened?
One proposal discussed at the Naperville City Council’s July 21 meeting would have the city-owned electric utility participate in the market without owning power assets, City Manager Doug Krieger said, according to NCTV17.
City officials have been examining utility supply options after most council members chose to pause negotiations on extending Naperville’s agreement with the Illinois Municipal Electric Agency past 2035.
In that scenario, the city would secure both electricity and capacity from the PJM Wholesale Market, the largest wholesale electricity market and high-voltage power grid in the United States, rather than continue under a provider arrangement that currently covers those responsibilities…