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News
Releases
FMPA
Receives Competitive Proposals for Prepaid Natural Gas
ORLANDO,
Fla., June 12, 2007 —Florida Municipal Power Agency
(FMPA) received eight competitive proposals in response to
a request seeking suppliers for prepaid natural gas transactions.
“Securing economical, long-term natural gas supplies
is a valuable cost-savings opportunity for FMPA’s All-Requirements
Project,” said Mark Larson, assistant general manager,
CFO and risk manager. “From the quality of proposals
received, we are optimistic we can arrange a transaction that
will reduce costs, enhance reliability and mitigate risk for
FMPA and our partners.”
FMPA requested
proposals with sufficient underlying credit support to meet
the overall objective of providing a secure supply of favorably
priced natural gas on a long-term basis.
FMPA staff
is currently evaluating the proposals and continues to welcome
potential transaction participants. Staff will recommend a
short-list to the Agency’s Finance Advisory Committee,
Risk Oversight Committee and Executive Committee for final
approval. FMPA could enter into natural gas prepayment agreements
as early as late-2007.
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Florida
Municipal Power Agency (FMPA) is a wholesale power company
owned by 30 municipal electric utilities. FMPA provides economies
of scale in power generation and related services to support
community-owned electric utilities. The members of FMPA serve
approximately 1.9 million Floridians. FMPA’s members
include Alachua, Bartow, Blountstown, Bushnell, Chattahoochee,
Clewiston, Fort Meade, Fort Pierce, Gainesville, Green Cove
Springs, Havana, Homestead, Jacksonville Beach, Key West,
Kissimmee, Lake Worth, Lakeland, Leesburg, Moore Haven, Mount
Dora, New Smyrna Beach, Newberry, Ocala, Orlando, Quincy,
St. Cloud, Starke, Vero Beach, Wauchula and Williston. Additional
information is available on the Internet at www.fmpa.com.
Media Contact:
Mark McCain
Assistant General Manager,
Public Relations and Human Resources
(407) 355-7767
Transaction
Contacts:
Mark Larson, Assistant General Manager, CFO and Risk Manager
Kristi Knight, Financial Analyst
(407) 355-7767
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