...Title
Actions Related to the Agreements with MRP Pacifica Marketing III, LLC for San José Clean Energy Resource Adequacy.
...Recommendations
Adopt a resolution authorizing the Director of the Energy Department to negotiate and execute a Cover Sheet agreement with MRP Pacifica Marketing III, LLC setting forth common terms for the following four transactions:
(a) Negotiate and execute an agreement with MRP Pacifica Marketing III, LLC to purchase resource adequacy associated with the Tracy Combined Cycle Gas facility for a maximum term of 12 years beginning in 2027, in an amount not to exceed $10,700,000 annually and up to $128,400,000 in aggregate;
(b) Negotiate and execute a further agreement with MRP Pacifica Marketing III, LLC to purchase resource adequacy associated with the Tracy Long-Duration Energy Storage facility for a maximum term of 14 years beginning in 2027, in an amount not to exceed $1,500,000 annually and up to $21,000,000 in aggregate;
(c) Negotiate and execute a further agreement with MRP Pacifica Marketing III, LLC for financial settlements associated with the Tracy Combined Cycle Gas facility for a maximum term of 12 years beginning in 2027, in an amount not to exceed $11,300,000 annually and up to $135,600,000 in aggregate; and
(d) Negotiate and execute a further agreement with MRP Pacifica Marketing III, LLC for financial settlements associated with the Tracy Long-Duration Energy Storage facility for a maximum term of 14 years beginning in 2027, in an amount not to exceed $1,600,000 annually and up to $22,400,000 in aggregate; to be paid solely from the San José Clean Energy Operating Fund and subject to the annual appropriation of funds.
CEQA: Not a Project, File No. PP17-003. Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Energy)