04/23/2013 Resolutions 2013-115 RESOLUTION 2013-115
WHEREAS, in 2009, all large Nebraska utilities officially joined the Southwest
Power Pool (SPP)that allows participants to buy and sell power directly into the market and avoid
interaction with multiple companies; and
WHEREAS, in 2014, SPP plans to deploy a new market called the Integrated Market
that increases in complexity and requires utilities to provide next day forecasting and pricing
information in an effort to utilize the lowest cost energy for load; and
WHEREAS, it will also have a real time energy market for correcting imbalances
from the day-ahead market; and
WHEREAS, it was determined that the best way for Grand Island to participate is
through a third party, and on May 22, 2012, Council approved an agreement with Tenaska, from
Dallas, Texas, to conduct transactions with SPP on behalf of Grand Island Utilities; and
WHEREAS,because certain transactions with Tenaska could be considered a swap
under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the City is required to
obtain a Commodity Futures Trading Commission Interim Compliant Identifier(CICI),which will
be used by Tenaska for their reporting requirements; and
WHEREAS, the Act also requires that the Dodd-Frank Act Representations and
Reporting Amending Agreement be executed in order for Tenaska to continue to conduct
transactions for the City.
NOW,THEREFORE,BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Dodd-Frank Act Representations and
Reporting Amending Agreement with Tenaska is hereby approved,and that the Mayor is authorized
to execute the Agreement on behalf of the City of Grand Island.
Adopted by the City Council of the City of Grand Island, Nebraska, April 23, 2013.
avri•ek, Mayor
Attest:
car'\
RaNae Edwards, City Clerk
Approved as to Form R e,A
April 22,2013 II City' ney