(Anita) The CAM School Board approved the bid from Wood River Natural Gas Iowa’s local Government Risk Pool at Monday’s meeting.
Schools Superintendent Paul Croghan says the standard renewal is in February, but the board acted early this year because of the rising energy costs.
The Iowa Local Government Risk Pool is a 28E agreement founded in 2019 by K-12 Public School Districts to provide more stability to school district budgets by pooling risks. School districts pay a single premium at the start of the fiscal year to cover all natural gas services for the year.
The Iowa LGRP is serviced by Wood River Energy, which protects school districts from black swan events, super cold budget-busting winters, or the impact of hurricanes that can wipe out significant gas production, any one of which can send prices soaring. If energy prices drop significantly, the Risk Pool refunds the schools in the 28E agreement.
