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The city exited from the all-requirements project with Florida Municipal Power Agency (FMPA; rated 'A+' with a Stable Outlook by Fitch) in 2010 in favor of a fixed contract rate of delivery arrangement.
As such, management is evaluating its options for potentially exercising the contract rate of delivery option to reduce future wholesale power purchases from FMPA.
A 24% decrease in rates stemming primarily from a change to a fixed contract rate of delivery from an all-requirements contract with Florida Municipal Power Authority (FMPA) (rated 'A+' by Fitch, with a Stable Outlook) and the addition of Orlando Utilities Commission (OUC) (rated 'AA' by Fitch, with a Stable Outlook) as a supplemental wholesale provider has increased system affordability.