The Florida Municipal Power Agency has executed International Swaps and Derivatives Association agreements with two financial institutions to support the All-Requirements Project’s Natural Gas Price Stability Program.
ARP is FMPA’s largest power supply project.
The agreements with Fifth Third Bank and JPMorgan Chase Bank will enable staff to purchase natural gas financial positions from these institutions under credit arrangements, significantly reducing the likelihood of needing to post margins and helping to support the program’s goal of more predictable ARP rates.
With the ISDAs in place, FMPA staff has already executed trades to lock in approximately 8% of projected winter 2026/27 ARP native gas needs and approximately 9% of projected summer gas needs.
FMPA Staff is very close to executing a substantially similar agreement with an additional counterparty, it noted.
