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CPW gives 10-year notice ending supplemental power agreement

Published on Monday, December 17, 2018

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CPW gives 10-year notice ending supplemental power agreement
Greer CPW Commissioners approved Monday a resolution to terminate its supplemental power sales agreement between the City of Greer and Piedmont Municipal Power Agency (PMPA) effective Dec. 31.

The agreement requires a 10-year notice and PMPA will continue to provide Greer CPW’s supplemental power through 2028.

The agreement addresses Greer CPW’s power needs above what it receives from the Catawba Nuclear Station and is not expected to impact customer rates due to the change, according to CPW’s announcement.

City of Greer council members approved its part of the resolution Dec. 11. While Greer CPW and the City of Greer are separate entities, the change required approval from both parties due to two power supply agreements and a debt being issued in 1980.

“This decision will allow us to have better control over our power generation fuel source, take advantage of new technology, explore using renewables and control our power supply costs,” said Greer CPW General Manager Mike Richard.

Greer CPW anticipates selecting a replacement supplemental power sales provider several years before the end of the notice period.

“Customers should not expect to see any changes related to the cost or reliability of their power and we hope this will be a positive change for both Greer CPW and customers,” Richard said.

 

 

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