Council to Consider Disney Electric Pact
A long-term agreement to provide electricity to the Disneyland Resort project at a discount will be considered by the City Council tonight.
The city-owned Public Utilities Department has negotiated the agreement with the Walt Disney Co. to provide electric service at a discounted rate at least through 2005. After that, the agreement gives the city the first right of refusal through 2010 to match any offer that Disney receives from another electricity provider.
Edward K. Aghjayan, public utilities general manager, said the agreement benefits both the city and Disney. “It’s advantageous to the city because it commits Disney to buying power until 2005,” he said. “We’ll lock in what will be our largest consumer of electricity and we’ll ensure that those revenues stay with the city.”
Aghjayan said that with the completion of Disney’s second theme park, new hotel and entertainment complex, Disney’s annual electric bill is expected to be more than $10 million.
The agreement, effective in August, “meets their needs by giving them an excellent price,” he said.
The discounts are consistent with those the city has offered other large customers who have signed long-term agreements to buy power from the city.
Tonight’s meeting begins at 5 p.m. in council chambers at 200 S. Anaheim Blvd. Information: (714) 254-5166.
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