No Answers on Why City Electric Company Lost $6M

The $6M loss by the city owned electric company is finally getting some visibility in the community. It was a front page feature, above the fold, on yesterdays WilcoSun newspaper.

Still there is no explanation as to why the utility was purchasing electricity from/thru ERCOT in advance. Georgetown citizens have been told repeatedly that the city has contracted for wind generated electricity at a fixed price and that the wind farm generates more electricity than the city currently requires. Why was the city buying/hedging in the market? Since the electricity cannot be stored, it has to be used/sold and that was the source of the $6M loss.

There are many unanswered question surrounding the management and operation of the city's electric company. The secrecy surrounding the utility company is a breeding ground for corruption and fraud. Only transparency about all the operations can show the citizens of Georgetown that the management and operation is clean, cost effective and efficient. Let the sun shine!