Dear Power4Schools Member:
You may have recently been contacted by First Energy Solutions (FES) regarding their recent Chapter 11 bankruptcy filing.
On Tuesday, April 3, the Bankruptcy Court approved all motions requesting authority to continue to pay and honor all P4S customer contracts through December 2019.
Given the recent news, we wanted to assure our P4S districts that the electric generation you receive from FES will not be interrupted and you will see no change in the way you receive or pay for your service. In the unlikely event FES does not fulfill its obligation to serve our districts, P4S does hold a substantial "Letter of Credit" that would be utilized to offset any loss of savings that could occur. But again, we do not anticipate this will happen.
In the meantime, P4S is working through the RFP process to secure an electric supplier to service districts beyond the current contract which remains in effect through December 2019.
P4S will continue to serve as a trusted advocate, leveraging the strength of BASA, OASBO, OSBA and the OSC and the strength of over 250 school districts, to provide you with the best possible service, the best price for electricity and best representation of the needs of your community.
Thank you for your support and attention to this matter.
