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Power Suppy <br /> _ _ <br /> Panning <br /> MMPA's power supply planning - <br /> approach is designed to give the - _ Conventional __ <br /> Agency flexibility in the competitive <br /> and rapidly-changing electric utility . <br /> ENERGY PARK -- <br /> industry. <br /> F-- MINNESOTA RIVER STATION = - - <br /> Resource planning is a challenging undertaking <br /> because the electric utility industry faces a high SILVER LAKE PLANT r <br /> degree of uncertainty related to commodity :_ POWER PURCHASES '- <br /> prices, environmental regulations,and technology. - ` <br /> MMPA's power supply planning goal is to - - <br /> assemble a diverse portfolio of conventional and _ _ <br /> renewable resources that positions the Agency = -?tea _ <br /> well for the future. We do this by having projects l-en vvab1e" <br /> at various development stages to provide -- - Resources - == <br /> MMPA with planning flexibility. When evaluating <br /> resource prospects, the Agency considers fixed HOMETOWN BIOENERGY _ _ _ _ <br /> and variable costs, environmental factors, and <br /> operating characteristics. -- OAK GLEN WIND FARM --- <br /> _ _ <br /> Like other utilities in the Midwest, MMPA __ _ HOMETOWN WINDPOWER _ _ _ <br /> purchases all of its load requirements from <br /> _ RENEWABLE ENERGY CREDITS = - <br /> and sells all of its generation output to the <br /> Midcontinent Independent System Operator - - - <br /> (MISO). However, MMPA's physical and contract - . - - - <br /> assets act as caps on market prices. We also - <br /> engage in energy hedging activities to promote _ .- <br /> rate stability. The Agency buys both electricity <br /> and natural gas in forward markets to manage <br /> energy price risk. <br /> 2013 MMPA Annual Report 9 <br />