City of Wood Dale Finance & Administration Committee met April 27.
Here is the minutes provided by the Committee:
Present: Ald. Catalano, Jakab, Messina, Sorrentino, E. Wesley, R. Wesley & Woods
Absent: Ald. Susmarski
Also Present: Treasurer Porch, City Manager Mermuys, Chief Vesta, B. Wilson, M. York, Dave Hoover, Ed Cage & K. Chrisse
Meeting Convened: 7:54 p.m.
Approval of the Minutes:
The minutes of the March 9, 2017 meeting were approved as presented.
Report & Recommendation:
With the current program expiring in July, the City (through its consultant, NIMEC) re-bid the program on today, April 27th. Staff presented the results of the bid. The Council was told to decide to accept one of the bids, or reject all bids and return everyone currently in the program back to ComEd. If the City rejects the bids, the program cannot be bid out again for one year.
The pricing environment has changed over the past year or so as savings have been harder to come by. That being said, the new ComEd price was recently released and it will be a blended effective rate of 7.19 cents beginning in July, up from its current 6.32 cents ending in June. Based upon this large increase in pricing (13.76%) it is possible that the bids might return some tangible savings again for the residents.
Staff recommended a 12 month contract with Dynegy, which provided the best rate based on the bid results earlier in the day.
David Hoover from NIMEC was in attendance to answer any questions.
The Mayor brought in his ComEd bill in to discuss the current ComEd adjustable rate and explain to the Council what we are currently paying with ComEd.
Ald. Messina asked if there would be an additional fee that would be applied with ComEd if we joined the were to agree to another Municipal Aggregation Contract. Mr. Dave Hoover stated that this wouldn’t be the case and that is why a variable rate is listed for ComEd because the fee is a +.5 and -.5 adjustment depending on the fee.
Brad Wilson also stated that the best aggregated company that was chosen to supply energy would send out a mailing the same as in the past. Mr. Hoover stated that the mailing will be on City letterhead and Dynegy would pay for the cost of the mailing.
Ald. Jakab asked if solicitors were still going to approach residents to sell energy and Mr. Hoover stated that that would be a small business decision and would maybe deter companies from soliciting but there was no guarantee.
Ald. Jakab made a motion, seconded by Ald. E. Wesley, to approve the Municipal Aggregation for 12 month contract with Dynergy. A voice vote, vote was taken with the following results:
Ayes: Ald. Catalano, Jakab, Messina, Sorrentino, E. Wesley, R. Wesley & Woods
Items to be Considered at Future Meetings:
a. Water Meter Price Code Update (May/June)
b. Water Rate Discussion (July)
c. IMRF Elected Officials Resolution (July)
d. Vehicle Sticker (October)
The meeting adjourned at 8:05 p.m.