TRANSMITTAL LETTER FOR BOARD MEETING OF APRIL 18, 2024
COMMITTEE ON PROCUREMENT
Mr. Brian A. Perkovich, Executive Director
Title
Authorization to exercise an option to extend and amend agreement with American PowerNet Management, LP, for Contract 21-RFP-06 Environmental Attributes Services Provider, for 2025-2026
Body
Dear Sir:
At the November 18, 2021, Board Meeting, the Board of Commissioners authorized the District to enter into an agreement with American PowerNet Management, LP (APN), to register, sell, and purchase Renewable Energy Credits (RECs) for a three-year period, with an option to extend for up to two additional years. The current agreement is scheduled to terminate on December 31, 2024.
The contract is structured such that APN deducts 5% from the total revenue generated by the sale of RECs and charges an additional 3% for procurement of RECs. This fee structure offered the greatest return of attribute revenue and the lowest overall cost to procure RECs realized from the BAFOs.
The extension of the termination date is in compliance with the Illinois Criminal Code because it is germane to the original agreement as signed and is in the best interest of the District.
In view of the foregoing, it is requested that the Board of Commissioners authorize the Director of Procurement and Materials Management to exercise an option to extend and amend the existing agreement with APN through December 31, 2026.
Requested, John P. Murray, Director of Maintenance and Operations, PD:MFM
Recommended, Darlene A. LoCascio, Director of Procurement and Materials Management
Respectfully Submitted, Marcelino Garcia, Chairman Committee on Procurement
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for April 18, 2024