FMPA Receives Competitive Proposals for Prepaid Natural Gas
ORLANDO, Fla., June 12, 2007 —Florida Municipal Power Agency (FMPA) received eight competitive proposals in response to a request seeking suppliers for prepaid natural gas transactions.
“Securing economical, long-term natural gas supplies is a valuable cost-savings opportunity for FMPA’s All-Requirements Project,” said Mark Larson, assistant general manager, CFO and risk manager. “From the quality of proposals received, we are optimistic we can arrange a transaction that will reduce costs, enhance reliability and mitigate risk for FMPA and our partners.”
FMPA requested proposals with sufficient underlying credit support to meet the overall objective of providing a secure supply of favorably priced natural gas on a long-term basis.
FMPA staff is currently evaluating the proposals and continues to welcome potential transaction participants. Staff will recommend a short-list to the Agency’s Finance Advisory Committee, Risk Oversight Committee and Executive Committee for final approval. FMPA could enter into natural gas prepayment agreements as early as late-2007.
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Florida Municipal Power Agency (FMPA) is a wholesale power company owned by 30 municipal electric utilities. FMPA provides economies of scale in power generation and related services to support community-owned electric utilities. The members of FMPA serve approximately 1.9 million Floridians. FMPA’s members include Alachua, Bartow, Blountstown, Bushnell, Chattahoochee, Clewiston, Fort Meade, Fort Pierce, Gainesville, Green Cove Springs, Havana, Homestead, Jacksonville Beach, Key West, Kissimmee, Lake Worth, Lakeland, Leesburg, Moore Haven, Mount Dora, New Smyrna Beach, Newberry, Ocala, Orlando, Quincy, St. Cloud, Starke, Vero Beach, Wauchula and Williston. Additional information is available on the Internet at www.fmpa.com.