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01-27-2020 BPU RPT 04
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01-27-2020 BPU AGENDA
(Cover Page)
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W A T E R E N E R G Y L I F E <br />RIVERSIDE PUBLIC UTILITIES <br />• ' Board Memorandum <br />P U B L I C U T I L I T I E S <br />BOARD OF PUBLIC UTILITIES <br />SUBJECT <br />ISSUE: <br />NORTH AMERICAN <br />AND PURCHASE <br />MARKETING, LLC. <br />DATE: JANUARY 27, 2020 <br />ITEM NO: 4 <br />ENERGY STANDARDS BOARD BASE CONTRACT FOR SALE <br />OF NATURAL GAS WITH SEMPRA GAS AND POWER <br />Recommend that the City Council approve the North American Energy Standards Board Base Contract for <br />Sale and Purchase of Natural Gas with Sempra Gas and Power Marketing, LLC. <br />RECOMMENDATIONS: <br />That the Board of Public Utilities recommend that the City Council: <br />Approve the North American Energy Standards Board Base Contract for Sale and Purchase of <br />Natural Gas between Sempra Gas and Power Marketing, LLC and the City of Riverside for use in <br />procuring natural gas sales and purchases under the terms and conditions stated therein; and <br />2. Authorize the City Manager, or designee, to execute subsequent transaction confirmation <br />agreements with Sempra Gas and Power Marketing, LLC, for sales and purchases of natural gas, <br />subject to the terms and conditions of individual North American Energy Standards Board enabling <br />agreements and consistent with the City Council approved Energy Risk Management Policy. <br />BACKGROUND: <br />The North American Energy Standards Board (NAESB) Base Contract for Sale and Purchase of Natural <br />Gas is a standardized set of business practices and standards that most buyers and sellers have adopted <br />for their natural gas and energy transactions. On March 7, 2008 and April 8, 2008, respectively, the Board <br />of Public Utilities and City Council approved the NAESB Base Contract for Sale and Purchase of Natural <br />Gas. The NAESB Contract does not require any specific purchase or sale of natural gas, but constitutes <br />the terms and conditions that would apply to any natural gas purchase or sale ultimately agreed to between <br />Riverside and a counterparty. <br />DISCUSSION: <br />Currently, Riverside has NAESB Base Contracts with Shell Energy North America, L.P., Occidental Energy <br />Marketing, Inc., BP Energy Company, and Conoco Phillips for natural gas transactions. Approval of the <br />NAESB Base Contract with Sempra Gas and Power Marketing, LLC will expand Riverside's pool of <br />potential purchasers and sellers of natural gas and will allow staff more flexibility when pursuing favorable <br />natural gas transactions. <br />
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