The City of Texas City joined the Public Power Pool (P3) in 2001 after deregulation to obtain low electric rates.  Public Power Pool is an aggregate of about 70 school districts, cities, and counties.  Since then, an additional aggregator of cities has been organized and the private brokers have learned to be more competitive.  In June of this year, the City Commission authorized the mayor to seek and negotiate the best rates for the City.  In order for the City to seek other bids and not be tied strictly to P3 in the next round of rate procurement, the City has to officially withdraw from P3.  It does not preclude the City from rejoining P3 at no additional expense after the bids are received from the various competitors for our business.  Again, as a reminder, the savings expected to come to the City in years 2014 and 2015 could be as much as $400,000/year because of the low energy costs we are experiencing this year.  We are locked in for 2013 and are prevented from obtaining any bids for the coming year.