>>> GOOD MORNING, EVERYBODY.
TODAY IS MAY 10th AND THE
MEETING OF THE ECONOMIC
DEVELOPMENT TECHNOLOGY AND CIT
LIGHT COMMUNITY WILL COME TO
ORDER. IT IS 9:33 AND THE SOUN
YOU HEAR . HAVING A PRETTY GOO
WEEK SO FAR. WHEN IT COMES TO
HYDROPOWER. I AM SARA NELSON,
CHAIR OF THE COMMITTEE. WILL TH
CLERK PLEASE CALL THE ROLL.
>> COUNCILMEMBER DAN STRAUSS.
>> PRESENT.
>> COUNCILMEMBER LISA HERBOLD.
>> HERE.
>> FIVE PRESENT.
>> THANK YOU, IT'S A FULL
HOUSE. THE FIRST IS THE RATE
STABILIZATION WHERE -- CENTRA
STAFF PRESENTED AND ANSWERED
INITIAL QUESTIONS FROM THE
COMMITTEE AND TODAY WE CAN GO
BACK AND ANSWER FURTHER
QUESTIONS AND THEN HOPEFULLY
BOOK THIS OUT OF COMMITTEE. AR
THERE ANY OBJECTIONS TO THE
AGENDA? NINE. THE AGENDA IS
ADOPTED. SPEAKERS WILL HAVE TW
MINUTES . MAKE SURE TO PRESS
STAR 6 2 AND MEET YOURSELF.
-- MUTE YOUR SELF. WHEN YOU
HEAR THE CHIME YOU WILL HAVE 1
SECONDS LEFT. YOUR MICROPHONE
MAY BE CUT OFF SO WE CAN MOVE T
THE NEXT SPEAKER. SO FAR WE HAV
ONE SIGNED UP TO SPEAK IN
CHAMBERS. LET'S BEGIN WITH
DAKOTA DONLEY.
>> HELLO COUNCIL, I NAME IS
DAKOTA JOSEPH CONNOLLY. I CAME
HERE WITHIN THE LAST FEW
MEETINGS TO SHARE AN IDEA
>> IS THIS PERTAINING TO THE
LEGISLATION ON THE AGENDA?
>> IT PERTAINS TO THE ECONOMY.
I'VE BEEN GIVEN THE CHANCE TO
SPEAK. I'VE BEEN DENIED BEFORE
>> I WOULD APPRECIATE YOU SEND
YOUR COMMENTS TO US.
>> IT GOT DENIED. NOBODY HAS LE
ME SPEAK SO I WOULD LIKE TO
PRESENT IT TO MY COUNCIL.
>> I HAVE TO BE CONSISTENT IN
THE WAY THAT I APPLY THE RULES
SO MY CLERK STEPHEN COULD YOU
PLEASE GIVE HIM AN EMAIL FOR HI
TO BE ABLE TO SEND .
>> I'VE ARTIE BEEN GIVEN AN
EMAIL AND I WAS DENIED.
>> I'M SORRY STORE.
>> DISCOUNT WOULD LIKE TO HEAR
WHAT I HAVE TO SAY.
>> I AGREE WITH YOU PROBABLY.
ALL RIGHT, WE WILL BE COMING
TO A CLOSE OF THE PUBLIC
COMMENT. JUST ONE MOMENT WHILE
WE GET YOU A GOOD EMAIL ADDRESS
THANK YOU VERY MUCH . OKAY,
IF WE HAVE NOW HAD OF EVERYONE
SPEAK WITH SIGNED UP. I WILL NO
CLOSE THE PUBLIC COMMENT
PERIOD. THE CLERK PLEASE READ
ITEM ONE INTO THE RECORD?
>> COUNCIL BILL 120056 AN
ORDINANCE RELATING TO THE CITY
LIGHT DEPARTMENT AND AUTHORIN
THE TRANSFORMER OF FUNDS AND
SUPERSEDING CERTAIN PRESENT OF
SUBSECTION 21.49.086.E OF THE
SEATTLE MISCIBLE CODE.
>> SIR ? PLEASE LEAVE THE
CHAMBERS. OR YOU ARE WELCOME T
WAIT AND LISTEN TO THE MEETING.
THIS IS GOING TO. WE WILL
START THE CLOCK. I AM REOPENIN
PUBLIC COMMENT . THANK YOU VERY
MUCH FOR YOUR PATIENCE AND GO
AHEAD AND PLEASE LET US KNOW
WHAT'S ON YOUR MIND.
>> ORGANIZATION CALLED SECOND
CHANCE OUTREACH SOLUTIONS . MY
ORGANIZATION HAS 100% SOLVED
THE SOLUTION TO END THE HOMELES
CRISIS IN SEATTLE. WE OWN THE
PACKAGE FOR IT AND I WANT TO
BRING IT TO SEATTLE. NOW WE AR
GETTING READY TO FILE FOR OUR
STATUS AS A CORPORATION. AT THE
STATUS OF THAT I AM OFFERING T
GIVE THE CITY OF SEATTLE 15
SHARES UPON THE FORMATION . LET
ME TELL YOU ABOUT WHAT MY
ORGANIZATION CAN DO. NOT ONLY
CAN WE PROVIDE JOBS WHO ARE
STRUGGLING , BUT WE CAN PROVIDE
HOUSING, SHOUTING, WATER, FOOD
REFERRALS AND WE CAN HAVE ANY
SERVICE THAT ANY MAN, WOMAN OR
CHILD IS READYING IN. ANY
SERVICE. WE ARE AIMING TO DO
THIS WORLDWIDE.
>> I WILL HAVE MY BUSINESS
CARDS LATER THIS WEEK. ANYONE
IS INTERESTED I WOULD BE MORE
THAN HAPPY TO SPEAK WITH YOU
MORE. I JUST ASK THAT THIS
COUNCIL SHARE THE WORD. THANK
YOU AND HAVE A GOOD DAY.
>> THANK YOU VERY MUCH.
>> THANK YOU, I APPRECIATE IT.
>> I AM CLOSING AGAIN PUBLIC
COMMENT. WITH THE CLERK PLEASE
READ ITEM ONE INTO THE RECORD?
>> BILL 120056 AN ORDINANCE
RELATING TO THE CITY LIGHT
DEPARTMENT TRANSFERRING FUNDS
INTO THE RATE STABILIZATION
ACCOUNT IN 2023 AND SUPERSEDING
CERTAIN PROVISIONS OF
21.49.086.E OF THE SEATTLE
MUNICIPAL CODE.
>> SO THANK YOU VERY MUCH.
CITY LIGHT BUYS THEMSELVES
ENERGY ON THE WHOLESALE ENERGY
MARKET AND BECAUSE UTILITY
TYPICALLY HAS MORE ENERGY THAN
NEEDED TO MEET RETAIL DEMAND
THE SUM OF THESE SALES ARE
REFERRED TO THE NET WHOLESALE
REVENUE. TO INSULATE UTILITY
AND RETAIL CUSTOMERS FROM THE
DYNAMIC OF THE WHOLESALE ENERGY
MARKET, IN 2010 THE CITY
COUNCIL CREATED THE RATE
STABILIZATION ACCOUNT WHICH IS
WHAT WE ARE TALKING ABOUT. CASS
PRESERVE THAT SERVES TO BUFFER
THE NET WHOLESALE REVENUE. SO
OUR PRESENTERS ARE AT THE TABLE
AND I WILL FINISH MY REMARKS
AND YOU CAN GO AHEAD AND BE ON
HAND FOR ANY QUESTIONS YOU MIGH
HAVE OR ANYTHING I MIGHT HAVE
MISSED.
>> WE HEARD IN THE LAST
COMMITTEE MEETING THAT THE
COMBINATION OF LOWER WEATHER AN
HIGH ENERGY MARKET PRICING
REQUIRE THE UTILITY TO TAP INT
THE RATE STABILIZATION ACCOUNT.
THIS HAS BROUGHT THE RSA BELOW
THE $75 MILLIONTHRESHOLD TO
TRIGGER A RATE SURCHARGE FOR OU
CUSTOMERS. THE GOOD NEWS IS
THAT STRONG RETAIL SALES DUE TO
COLDER THAN NORMAL TEMPERATURES
HAS THE UTILITY AND A STRONG
FINANCIAL POSITION TO ALLOW FOR
THE TRANSFER INTO -- WHAT'S
IMPORTANT TO ME IS TO UNDERSTAN
WHAT ARE WE DOING TO PLAN FOR
AND ACCOMMODATE WHAT WILL
CLEARLY BE UNUSUAL AND PERHAPS
EXTREME WEATHER EVENTS AND SO
WE HEARD A PRESENTATION LAST
NIGHT ABOUT HOW THIS TRANSFER
IS IN RESPONSE TO THINGS OUT O
OUR CONTROL AND THE ORDINANCE
WILL SIMPLY TRANSFER MANY FRO
THE LIGHT FUND THE RSA. SO
THE LONGER-TERM ACTIONS INCLUDE
THE ADOPTION OF THE 2022
INTEGRATED RESOURCE PLAN WHICH
IS THE IRP AND IF THAT SOUNDS
FAMILIAR WE DID HAVE A LONG
BRIEFING AND LEGISLATION ABOUT
THAT LAST YEAR AND THAT CALLS
FOR NEW RESOURCE ACQUISITION AN
ENGAGEMENT WITH THE WESTERN
RESOURCE ADEQUACY PROGRAM. THOS
ACTIONS TAKEN BY THE COMMITTEE
IN THE PAST YEAR. WE HAVE CITY
LIGHT STAFF HERE TODAY AND
CENTRAL STAFF ERIC McCONAGHY T
ANSWER ANY QUESTIONS. I WILL
OPEN TO MY COLLEAGUES. I DON'T
SEE ANY HANDS NOW. WHAT DO YOU
THINK POLICYMAKERS SHOULD BE
THINKING ABOUT RIGHT NOW WHEN
IT COMES TO THE FACT THAT WE D
HAVE THIS RESERVE AND IT SEEMS
AS THOUGH WE MIGHT HAVE TO DO
THIS IN THE FUTURE. EITHER ANY
NEXT STEPS WE SHOULD DISCUSS
THIS TIME THAT WE HAVE NOT
CONSIDERED? I DON'T MEAN TO PU
YOU ON THE SPOT. I'M SORRY.
>> GOOD MORNING , CARSTEN CROF
I THINK YOU SUMMED IT UP WELL.
ACTIVITY IN THE WHOLESALE
MARKET IS A DYNAMIC PROCESS AN
WE ARE CONTINUING TO ADDRESS A
VARIETY OF RISKS BOTH WITH
CLIMATE CHANGE AND HYDRO FLOWS
AS WELL AS EMERGING MARKETS.
THOSE ARE ALL THINGS THAT WE
HAVE ON OUR RADAR AND WE WILL B
WATCHING AND CHANGING OUR
PRACTICES ACCORDINGLY
>> IT LOOKS LIKE YOU HAD
SOMETHING TO SAY.
>> JUST A REMINDER THAT THE
RATE STABILIZATION ACCOUNT IS I
THE CODE. IT SET UP
AUTOMATICALLY -- THIS IS A
CIRCUMSTANCE WHERE THEY LIVE
HAS CASH ON HAND TO AVOID THE
AUTOMATIC SURCHARGE. IT'S SORT
OF A GOOD SITUATION TO BE IN
BUT I WANT TO REMIND FOLKS IT
DOES EXIST. SHOULD BE A --
WHERE THERE ISN'T CASH ON HAND
TO SMOOTH THINGS OUT AND THAT'S
CODIFIED AND WORKING.
>> I HAD A QUESTION WHICH WAS
IF WE WERE NOT DOING THIS
LEGISLATION AND POSSIBLY
CONSIDERING A VOTE HOW MUCH
WOULD THE TYPICAL HOUSEHOLD
EXPERIENCE AND EXPENSE, WHAT
WOULD THAT SURCHARGE COSTS.
>> SURCHARGE WOULD BE ABOUT 4%
SO IT WOULD BE A LITTLE BIT ON
A TYPICAL RESIDENTIAL BILL ABOU
$80 A MONTH. 4% WOULD BE ROUGHL
FOUR DOLLARS GIVE OR TAKE.
>> OKAY, SAVING THE BIG DOLLARS
BUT THAT IS SIGNIFICANT. IT DOE
ADD UP AND WHEN YOU THINK ABOUT
THAT SPREAD OUT OVER OUR WHOLE
RATEPAYER BASE THAT IS A LOT OF
MONEY AND IS VERY FORTUNATE THA
WE DO HAVE RESERVES TO
ACCOMMODATE THE WHOLESALE
REVENUE.
>> OKAY, I AM NOT SEEING ANY
QUESTIONS SO OR COMMENTS SO IF
THAT IS THE CASE I WILL GO AHEA
AND MOVE THAT THE COMMITTEE
RECOMMENDS PASSAGE OF COUNCIL
WILL 120556. IS THERE A SECOND
>> SECOND.
>> -- COUNCIL BILL AND ARE
THERE ANY FURTHER QUESTIONS OR
COMMENTS AND IF NOT WE WILL HEA
INTO A VOTE. OKAY, I SEEN ON
SOME OF THE CLERK PLEASE CALL
THE ROLL.
>> COUNCILMEMBER STRAUSS.
>> YES.
>> FIVE IN FAVOR AND ZERO
OPPOSED.
>> EXCELLENT. THE MOTION CARRIE
AND THEY COMMITTEE REST IN
ADDITION WILL BE 42 THE CITY
COUNCIL FOR FINAL CONSIDERATION
ON MAY 16th. THIS CONCLUDES TH
AGENDA FOR TODAY'S ECONOMIC
DEVELOPMENT TECHNOLOGY AND CITY
LIGHT COMMITTEE AND OUR NEXT
MEETING IS SCHEDULED FOR
WEDNESDAY MAY 24th 9:30 A.M.
AND TO PREVIEW THAT MEETING THE
COMMITTEE WILL HAVE BRIEFING AN
DISCUSSION ON TWO BILLS FOR CIT
LIGHT. AND IF THERE IS NO
FURTHER BUSINESS THIS MEETING
IS ADJOURNED. IT IS 9:46. HAV
A GREAT DAY EVERYBODY. IN QUEUE
THANK YOU .