Council agrees in principle to lock multi-year green energy supply with IGS; staff will confirm rate

Staff explained the borough's energy arrangement (PECO distributes; IGS supplies) and recommended locking a fixed supply price now to avoid further increases. "So what I'm asking for tonight is just to, a, proceed with IGS as our energy supplier, b, decide on whether or not we want the standard with a green, and then, c, if you have a recommendation on the term that we want to lock in for," the staff member said, and recommended a longer term to secure the likely best price available over the next few years.

Council members expressed support for locking in a longer term and for staying on the green renewable option; the chair observed consensus to pursue the green plan and directed staff to confirm the actual market rate before finalizing the lock-in. Staff noted that the confirmed rate will be whatever the market price is on the day they lock the contract and said they would pause if the confirmed rate was materially different from the presented figures.