Sierra Pacific Power Company dba NV Energy has approached the City and offered to provide the City with annual incentive payments of $125,000 in years 2019, 2020, and 2021 in exchange for the City’s agreement to remain a bundled customer of NV Energy for the next five years.  The proposed agreement only applies to City of Sparks electric loads and does not apply to electric service at the Truckee Meadows Water Reclamation Facility (TMWRF), which is jointly owned and operated with the City of Reno.

The proposed agreement would provide for the payment of $125,000 to the City of Sparks within 30 days after the agreement is signed, a second payment of $125,000 no later than January 31, 2020, and a third payment no later than January 31, 2021, subject to the City remaining a bundled customer of NV Energy for the next five years.

1. Council could approve the agreement.
2. Council could reject the agreement and provide direction to the City Manager.

I move to approve Customer Services Agreement (AC-5621) between the City of Sparks and Sierra Pacific Power Company dba NV Energy, to provide the City with $125,000 annually for each of the next three years, subject to the City remaining a fully bundled customer of NV Energy for the next five years.