Long Beach, CA
File #: 05-2722    Version: 1 Name: LB Energy contract for natural gas
Type: Contract Status: CCIS
File created: 5/12/2005 In control: City Council
On agenda: 5/17/2005 Final action: 5/17/2005
Title: Recommendation to authorize City Manager to enter into a natural gas supply agreement with Constellation Energy Commodities Group, Occidental Energy Marketing, Inc., Pacific Summit Energy, LLC, Coral Energy Resources, L.P. or Sempra Energy Trading that meets the following conditions: 1) a term not to exceed one year; 2) a volume of 8,800 MMBtu per day; 3) a monthly price indexed to delivery at the Southern California Border, plus a fixed fee of not greater than $0.15 per MMBtu; and 4) a price ceiling of not greater than $12.00 per MMBtu and a price floor of not greater than $6.00 per MMBtu. (Citywide)
Sponsors: Long Beach Energy
Indexes: Agreements
TITLE
Recommendation to authorize City Manager to enter into a natural gas supply agreement with Constellation Energy Commodities Group, Occidental Energy Marketing, Inc., Pacific Summit Energy, LLC, Coral Energy Resources, L.P. or Sempra Energy Trading that meets the following conditions: 1) a term not to exceed one year; 2) a volume of
8,800 MMBtu per day; 3) a monthly price indexed to delivery at the Southern California Border, plus a fixed fee of not greater than $0.15 per MMBtu; and 4) a price ceiling of not greater than $12.00 per MMBtu and a price floor of not greater than $6.00 per MMBtu.  (Citywide)
 
DISCUSSION
[Description/Discussion]
 
TIMING CONSIDERATIONS
[Timing Considerations]
 
FISCAL IMPACT
[Fiscal Impact]
 
SUGGESTED ACTION
Approve recommendation.
 
BODY
[Enter Body Here]
 
 
Respectfully Submitted,
[Respectfully Submitted,]