Title
Approval of Services Agreement No. AGR21-41 with FTI Consulting, in the amount of $243,743.00, with a contingency of $24,374.00 for a total contract amount of $268,117.00 plus Applicable Gross Receipts Tax, for the Purpose of Developing an Integrated Resource Plan and Approval of Related Budget Revision 2021-50.
Recommended Action
I move that the Board of Public Utilities approve Services Agreement No. AGR21-41 with FTI Consulting, in the amount of $243,743.00 and a contingency in the amount of $24,374.00, for a total of $268,117.00, plus applicable gross receipts tax, for the purpose of Development of an Integrated Resource Plan, and forward to Council for approval.
I further move that the Board of Public Utilities approve a budget adjustment of $287,757 to Electric Production FY2021 budget for the purposes of developing an Integrated Resource Plan and forward to Council for approval.
Staff Recommendation
Staff recommends approval of the motion as presented.
Body
The County has partnered with DOE-LANL through the Electric Coordination Agreement since 1985 to meet the electrical power needs of both parties. The term of the current agreement is through June 30, 2025. The partnership is often referred to as the Los Alamos Power Pool (LAPP). Since 1985 the LAPP has developed and maintained a Power Supply Study for planning purposes. This type of study is commonly referred to as an integrated resource plan.
An integrated resource plan, or IRP, is a utility plan for meeting forecasted annual peak and energy demand, plus some established reserve margin, through a combination of supply-side and demand-side resources over a specified future period. The plan will compare the Levelized Cost of Electricity (LCOE) for generation resource options while also considering utility specific goals and objectives in the planning process.
The last IRP was completed in 2017 with an additional focus on the benefits of the LAP...
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