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PUD Auctions Power Slice For $83 Million 3/6/2012
Chelan County PUD has secured more than $83 million in revenue between the years 2013 and 2017 after Constellation Energy Commodities Group and Morgan Stanley Capital Group each bid on a slice of surplus power last month.
Every year the PUD auctions off a slice of power produced by Rocky Reach and Rock Island dams, offering a combined 5% of the power produced annually.
Gregg Carrington, Managing Director of Energy Resources for Chelan PUD says this annual auction, and subsequent five year contracts offer utility officials the capability to predict revenue.
The PUD expects that having a base level of predictable power sales revenue during the next several years will help avoid large swings in power rates charged to local customers.
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