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______________________________________________________________________________ <br /> <br />Page 1 of 1 <br /> <br /> <br /> <br /> <br /> <br />UTILITIES COMMISSION MEETING <br /> <br />TO: <br />ERMU Commission <br />FROM: <br />Theresa Slominski – General Manager <br />MEETING DATE: <br />August 9, 2022 <br />AGENDA ITEM NUMBER: <br />2.6 <br />SUBJECT: <br />Amendment to MMPA Power Sales Agreement <br />ACTION REQUESTED: <br />Approve the Amendment to MMPA Power Sales Agreement <br /> <br />BACKGROUND: <br />As explained at their annual meeting, Minnesota Municipal Power Agency (MMPA) is <br />requesting approval of the attached amendment to the power sales agreement between ERMU <br />and themselves. This will effectively extend our contract from 2050 to 2060. <br /> <br />DISCUSSION: <br />MMPA is requesting this amendment because it will allow the Agency to issue 30-year debt <br />through the year 2030. The ability to issue 30-year debt is key to helping the Agency keep <br />member rates competitive. Both MMPA and ERMU are pleased with the consistent track record <br />of reliable, competitively priced power that MMPA has provided for the past four years. MMPA <br />is asking all its member communities to extend their contracts and hope to have the process <br />completed by November in as many communities as possible. <br /> <br /> <br />ATTACHMENTS: <br />• Amendment to MMPA Power Sales Agreement <br />51