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DES:djk 0q/26/95 (026/41) <br /> 0 R I G I N A L 10/9/95 <br /> <br /> R E S O L U T I O N N O. 12619 <br /> <br /> RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF <br /> AGREEMENT FOR THE PURCHASE OF NATURAL GAS AND RELATED <br /> TRANSPORTATION/DISTRIBUTION SERVICES THROUGH THE <br /> ASSOCIATION OF BAY AREA GOVERNMENTS' POWER PURCHASING <br /> POOL <br /> <br /> WHEREAS, the City of Redwood City is currently purchasing <br />gas and related transportation and distribution services from <br />Pacific Gas & Electric Company ("PG&E"); and <br /> <br /> WHEREAS, energy rates in the Bay Area are among the highest <br />in the nation, particularly for natural gas and electricity; and <br /> <br /> WHEREAS, deregulation of the natural gas industry in 1986 <br />and deregulation of the electric services industry currently <br />under consideration by the California Public Utilities Commission <br />and the State legislature is creating new opportunities for local <br />governments to lower their energy costs through collective <br />action; and <br /> <br /> WHEREAS, there are no existing power purchasing pools for <br />Bay Area local governments interested in lower energy costs; and <br /> <br /> WHEREAS, bulk purchasing of natural gas has proven to be a <br /> legal and cost-effective means to achieve reduction in energy <br /> costs through the use of a competitive bid program; and <br /> <br /> WHEREAS, the City of Redwood City would derive benefit from <br /> advantageous changes in the regulation of the electric market; and <br /> WHEREAS, the City of Redwood City is a member of the <br /> <br /> Association of Bay Area Governments ("ABAG"); and <br /> WHEREAS, ABAG, in conjunction with New Energy Ventures, Inc. <br /> ("NEV"), proposes to form a Power Purchasing Pool Program to <br /> <br /> <br />