Fiscally challenged city of Radford hopes new power contract will give it more diversity and control

Fiscally challenged city of Radford hopes new power contract will give it more diversity and control

In the pursuit of lowering costs and expanding its energy supply options, the city of Radford now receives its electricity through a new wholesale power agreement that started June 1. The city — which is under an unusual “fiscal distress” designation issued by the state — found itself in the predicament in part because of how it had been providing and paying for power to its residents and businesses. No longer does the city contract directly wit…