Resolution No. 5081
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RESOLUTION NO. 5081
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON CHANGING THE ENERGY COST ADJUSTMENT
BILLING FACTOR CHARGED FOR ELECTRICAL ENERGY
DISTRIBUTED AND SUPPLIED TO ITS ELECTRICAL
CONSUMERS
6 WHEREAS, Ordinance No. 929 provides for an Energy
7 Cost Adjustment Billing Factor and for changes in such billing
8 factor to be made from ti~e to time by resolutions of the City
9 Council of the City of Vernon when, in the City Council's
10 opinion, such changes are necessary for the sound financial
11 position of the Light and Power Operating Funds; and
12 WHEREAS, the Energy Cost Adjustment Billing Factor
13 adopted in previous Resolution No. 5053 has produced a deficit
14 in the energy cost adjustment account; and
15 WHEREAS,.the "Report on Rate Design" adopted by
16 the City Council provides that surpluses or deficits in the
17 energy cost adjustment account should be considered in
18 determining the Energy Cost Adjustment Billing Factor to be
19 applied in future quarters; and
20 WHEREAS, the projected Energy Cost Adjustment Billing
21 Factor in the wholesale market has been and continues to be
22 subject to wide variations; and
23 WHEREAS, the City Council of the City of Vernon deems
24 it necessary that the Energy Cost Adjustment Billing Factor be
25 as constant and stable as possible in order to allow the
26 customers to project their future financial needs; and
27 WHEREAS, the City Council of the City of Vernon finds
28 and determines that the accumulated deficit should be debited
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to the Energy Cost Adjustment Billing Factor during the next
quarter.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF VERNON AS FOLLOWS:
SECTION 1: That the City Council of the City of Vernon
finds and determines that the recitals contained hereinabove
are true and correct.
SECTION 2: That the City Council of the City of Vernon
does hereby adopt an Energy Cost Adjustment Billing Factor of
minus 1.778t per kilowatt hour on electrical energy sold to its
electrical customers.
SECTION 3: That the effective date of said Energy
Cost Adjustment Billing Factor shall be February 7, 1984, and
shall continue until rescinded or amended by resolution of the
City Council of the City of Vernon.
SECTION 4: That effective February 7, 1984, this
Resolution rescinds existing Energy Cost Adjustment Billing
Factor Resolution No. 5053.
SECTION 5: That the City Clerk of the City of Vernon
shall certify to the passage of this Resolution and thereupon
and thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 7th day of February, 1984.
ATTEST:
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1 STATE OF CALIFORNIA )
) SSe
2 COUNTY OF LOS ANGELES )
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4 I, BRUCE V. MALKENHORST, City Clerk of the City of
5 Vernon, do hereby certify that the foregoing Resolution, being
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6 Resolution No. 5081
,was duly adopted by the City Council of
the City of Vernon,and was approved by the Mayor of said City
at a regular meeting of the City Council held on Tuesday,
February 7 , 1984
.P!~~
BRUCE V. MALKENHORST,
Clerk
(SEAL)
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