commissioners approved this step last week, but at one commissioner said the situation leaves him unsettled.
faces a buyer's market for any surplus power that it generates.
Since that time, regional electricity prices have significantly fallen, from $300/mwh to less than $30/mwh, and EWEB
now finds itself with excess higher cost power contracts generating net wholesale losses.
would set aside $1 million for environmental remediation at the site, with the money to be used either prior to the sale or once redevelopment begins, according to draft terms of the deal, which are included in EWEB
's agenda for its Tuesday board meeting.
It is the sharpest public criticism an EWEB
official has leveled against the secret contract that EWEB
signed in 2010 to buy the Seneca plant's power for 15 years.
has also tried to avoid future costs by encouraging conservation, both through its rate structure and through programs to increase energy efficiency.
estimates that half of its costs to sell electricity to customers are fixed.
officials committed in 2008 to spend $155 million or more on environmental and other upgrades to the Carmen-Smith Hydroelectric Project as part of their effort to persuade federal power regulators to renew the license EWEB
needs to keep running the system.
Electric vehicles also are significantly less expensive to operate than cars, truck and vans powered by fossil fuels, EWEB
officials said, citing U.
Orchard noted that EWEB
previously has disclosed to the newspaper numerous other electricity purchase contracts it has with other power sources, and EWEB
has blacked out l ittle or no information.
The five-member EWEB
board hopes to select one of the developer groups by fall.
has shelved that project in favor of lower-cost emergency water distribution points, the first of which is scheduled to be completed next year.