Description
Title: First Amendment to the Agreement with cQuant.io, Inc. for Energy Trading and Risk Management Software.
Summary
The San Jose City Council is considering a resolution to amend its agreement with cQuant.io, Inc. for energy trading and risk management software. This amendment seeks to extend the contract for up to five additional one-year terms, lasting until June 30, 2031, and to increase the total compensation by $269,456, bringing the maximum to $1,405,460. This funding, sourced from the San José Clean Energy Fund, supports the Energy Department's efforts in portfolio analysis, risk management, and asset valuation, ensuring the provision of reliable and cost-effective clean energy. The amendment is crucial for maintaining uninterrupted services while allowing time for evaluating other service providers. There is no commission input related to this action.