Long-Term Contracts Result In Higher Costs For Texas Muni
December 11,2018
Community Impact Georgetown reports that long-term contracts entered into by the municipal electric utility owned by Georgetown, Texas, along with the movement of market prices, has resulted in nearly $7 million higher costs than an earlier projection.
Georgetown Utility Systems serves 40,000 customers
Georgetown had hyped its signing of various long-term renewable energy contracts. However, Community Impact reports that Georgetown is now attempting to renegotiate the contracts
Community Impact reports that Georgetown signed the contracts believing forecasts of higher market prices, which did not materialize