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ENERGY FUTURE COLLABORATION - MEMORANDUM OF UNDERSTANDING BETWEEN <br />THE TOWN OF BRECKENRIDGE, COLORADO AND XCEL ENERGY <br />This Memorandum of Understanding ("Memorandum"), dated January 23, 2018, <br />outlines various overarching values, goals and shared principles between the Town of <br />Breckenridge (the "Town") and Public Service Company of Colorado, a Colorado <br />corporation and an Xcel Energy company ("Xcel Energy"). The Memorandum provides <br />a strategy for cooperation and achievement of a shared vision through broad <br />collaboration, focusing on innovation, clean energy, economic development <br />opportunities, customer choice programs and technology ("Energy Future <br />Collaboration" or "EFC Partnership"). The Town and Xcel Energy are each a "Party" <br />and collectively the "Parties" to this Memorandum. <br />BACKGROUND <br />A. The Town is a Colorado home rule municipality and the Summit County seat. It <br />is responsible for protecting the public health and safety of its residents. <br />B. The Town has various clean energy, economic development, public works and <br />innovation goals and desires, which have been developed in collaboration with <br />the community including with Xcel Energy, at times. <br />C. Xcel Energy is a statewide, integrated public utility energy provider, which is <br />regulated by the Colorado Public Utilities Commission ("PUC"). Xcel Energy <br />provides electric and natural gas service to the Town and its residents. <br />D. Over the decades, a strong tradition of working together has progressed • between <br />the Town and Xcel Energy, resulting in an interwoven history linked to the Town's <br />growth, development, planning and energy needs and objectives. <br />E. The Town and Xcel Energy have many aligned interests at a local, state and <br />federal level and desire to advance those interests in a new way, capitalizing on <br />each entity's strengths and expertise via partnership. <br />F. To do this, the Town and Xcel Energy are creating a holistic, collaborative, <br />mutually beneficial relationship that supports the community. <br />G. The Town and Xcel Energy desire to memorialize, in this Memorandum, their <br />shared vision, guiding principles, values and goals regarding the EFC <br />Partnership. <br />