FOR IMMEDIATE RELEASE: July 28, 2016
Big Rivers Electric Corporation is proud to announce the finalization of a ten-year power supply contract with the Kentucky Municipal Energy Agency (KyMEA). Under the agreement authorized on July 13th, Big Rivers will provide between 75 and 100 megawatts (MW) beginning in June of 2019. The supply could also be expanded by up to 50 MW later in the contract term.
KyMEA is an Inter-local Cooperation Agency formed in June of 2015 to develop a power supply portfolio to serve the city-owned utilities in Kentucky that terminated their long-term power supply arrangement with Kentucky Utilities Company, as well as other Kentucky municipally-owned electric utilities.
Members of the KyMEA include the cities of Barbourville, Bardwell, Benham, Corbin, Falmouth, Frankfort, Madisonville, Paris, Providence and Owensboro. Owensboro Municipal Utilities will not initially be an all-requirements participant of the KyMEA and will not be a recipient of any of the capacity and energy provided under the Big Rivers contract.
In addition to the agreements with Big Rivers, the KyMEA entered into power supply contracts with the Illinois Power Marketing Company, a subsidiary of Dynegy, and the Electric Plant Board of the City of Paducah.
“This agreement is a very positive development for Big Rivers, its Member-Owner cooperatives and the KyMEA,” said Big Rivers President and CEO Bob Berry. “It is one more step in the successful execution of a 2013 plan to locate long-term buyers for surplus power and reinforces the commitment of Big Rivers to the Action Plan that was established by the Kentucky Public Service Commission (KPSC) last year. The low costs and high reliability of our generating fleet made us very competitive in the evaluation of proposals received in response to KyMEA’s RFP solicitation for its power supply needs. A contract like this also ensures the best rates for members served by Kenergy, Jackson Purchase Energy Corporation and Meade County RECC.”
The Big Rivers agreement with the KyMEA will be subject to approval by the KPSC and the Rural Utilities Service.
Big Rivers Electric Corporation is an electric generation and transmission cooperative headquartered in Henderson, Kentucky and owned by three distribution cooperative members—Jackson Purchase Energy Corporation, headquartered in Paducah; Kenergy Corp, headquartered in Henderson; and Meade County Rural Electric Cooperative Corporation, headquartered in Brandenburg. These member cooperatives deliver retail electric power and energy to more than 115,000 residential, commercial, and industrial customers in portions of 22 western Kentucky counties.
FOR MORE INFORMATION CONTACT:
Jennifer Keach Stephanie McCombs
Director Communications and Community Relations Communications Specialist
(270) 844-6153 – office (270) 844-6116