Langley – The partnership between the Grand River Dam Authority and its largest Oklahoma municipal customer, Stillwater, will be extended, at least through 2042.
At its Aug. 14 meeting at the GRDA Ecosystems and Education Center (Langley, Okla.), the GRDA Board of Directors approved a power purchase and sale agreement with the Stillwater Utilities Authority (SUA), which is the public trust that operates and maintains the city’s utilities system. The agreement means GRDA will continue to supply wholesale electric power to the public power community, furthering a partnership that began in October 1987.
“We are pleased that GRDA will continue to be the wholesale electric supplier for Stillwater,” said GRDA Chief Executive Officer/Director of Investments Dan Sullivan. “It’s a wonderful Oklahoma community that has a great utility team in place. We look forward to extending a beneficial partnership that has existed for 26 years.”
Stillwater joins 15 other Oklahoma public power communities that have signed long-term contracts with GRDA in recent years. The majority of which have been GRDA customers for more than 60 years.
“Although contract negotiations have taken some time, our confidence and satisfaction level with GRDA is at an all-time high,” SUA Director Dan Blankenship said.
“GRDA and its municipal partners are really all part of one large public power team in Oklahoma. If it’s beneficial for GRDA, then it’s beneficial for Stillwater and our customers.”
The new agreement will become effective Sept. 1.
With a goal to provide its customers with professional, reliable and friendly service, the SUA is a public trust, operating under a trust indenture dated April 1, 1979.
It was created by a city ordinance with the City of Stillwater as the beneficiary. The mayor and city council serve as trustees and govern the authority.
Headquartered in Vinita, GRDA is Oklahoma’s state-owned electric utility; fully funded by revenues from electric and water sales instead of taxes. GRDA’s low-cost, reliable power touches 75 of 77 counties in the state. At no cost to Oklahoma taxpayers, GRDA also manages 70,000 surface acres of lakes in the state, including Grand Lake, Lake Hudson and the W.R. Holway Reservoir. Today, GRDA’s 500 employees continue to produce the same power for progress that has benefited the state for 75 years.
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