Carl recently emailed to inquire about how the City of Elyria is addressing energy costs. Here is what I explained to him. The City of Elyria has entered into two cooperative purchasing agreements with North Shore Energy. The first agreement was entered into in 2012 to purchase electricity for our larger consumers like wastewater treatment and the water plant. This agreement saved the City $36,000 in 2012 and is expected to save the City $903,935 through 2015.
I signed a second agreement last month with North Shore Energy for cooperative purchasing of natural gas. The intent of this agreement is to lock in a cost for the City for three years, as the price of natural gas is expected to rise. Forecasters are expecting natural gas prices to increase as Liquified Natural Gas (LNG) is exported and Compressed Natural gas (CNG) is used for truck fleets and other purposes. In addition, new electric power plants are being constructed that run on natural gas. This will create a huge demand. By the City fixing the price for an extended period, we can remove the risk of volatility and allow for better budget planning. While an analysis found that the City is likely to save $5,650 over the next three years – which is not much, without price-fixing we could see a much greater risk of escalating costs based on a historic look back at Natural Gas Commodity bare prices.
More Summer Fun in Downtown Elyria
While the summer is winding down, the fun in Elyria Square continues in downtown Elyria. Mark your calendars for the following upcoming events:
- August 15: Summer Concert from 11:30am – 1:00pm featuring Rich Gallo
- August 30: An Evening of Bluegrass Music featuring local bands – 5:00pm - dusk
- August 31: Warm-Up Music followed by the Cleveland Pops Orchestra – 5:00pm - dusk
- September 1: St. Andrews Jazz & Blues festival – 1:00 – 7:00pm
- September 20 – 22: Elyria Apple Festival