Dive Summary:

• Austin Energy is not waiting around to meet the renewable portfolio standard (RPS) requiring the utility to get 35% of its electricity from renewables.
• Duke Energy Renewables and E.ON Climate and Renewables North America will provide Austin Energy three new long-term purchase contracts totaling 570MW of wind power, a move recently approved by the city council of Austin, Texas.
• The contracts will make Austin Energy one of the greenest electric utilities in the U.S. and put the company on a path to meet its 35% renewable portfolio standard in 2016, four years ahead of schedule.

From the article:
“These projects have purchase terms up to 25 years and fixed pricing between $23 and $33 per MWh, which the council says is natural gas generation.”