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Power Supply Report Memo <br />Page 2 of 2 <br />Staff also met with Connexus Energy to determine their level of interest in extending the <br />current contract beyond 10 years or writing a new one. Their initial comment was "we <br />are really interested in purchasing you." After assuring them that was not even a <br />discussion item, they shared that Great River Energy has received some serious <br />repercussions from other members of GRE about the "sweetheart deal" ERMU is getting. <br />They also have a commitment not to enter into any power supply agreements directly <br />with municipal utilities. Our discussion centered on what kind of a deal we can achieve <br />through Connexus Energy. They will work on three scenarios: <br />1. Draft an agreement as our wholesale power supplier beginning in 2009 and <br />extending through 2024. <br />2. Draft an agreement as our wholesale power supplier beginning in 2014 and <br />extending through 2029. <br />3. Draft an agreement as our wholesale power supplier at the termination of the <br />existing contract. <br />Their commitment was to have these ready for our consideration by January 26th <br />Additional meetings will be held with Xcel Energy, MMPA, and SMMPA prior to the <br />next Commission meeting. Minnesota Power is another consideration pending the <br />outcome of their disagreement with Nashwauk Municipal Utilities. <br />