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UTILITIES COMMISSION MEETING <br />TO:FROM: <br />ERMU Commission Theresa Slominski –General Manager <br />MEETING DATE: AGENDA ITEM NUMBER: <br />April 13, 2021 6.1a <br />SUBJECT: <br />Staff Update <br />ACTION REQUESTED: <br />None <br />DISCUSSION: <br /> TheBoard of Directors of the Minnesota Municipal Power Agency (MMPA) met virtually <br />on March 23, 2021. Both Commissioner Stewart and I were in attendance. As mentioned <br />in the mid-monthmemo, theMMPA board authorized using the rate stabilization fund <br />to cover the higher than budgetedcosts rather than passing a rate increase through to <br />members.I have attached a statement that MMPA released addressing this decision. <br /> <br /> We received our compliance letter and a certificate from our pay equity filing we <br />presented in January 2021. As expected, we have met the compliance requirements and <br />have passed the testing parameters. The letter and certificate we received from the <br />state are attached. <br /> We had our bond rating call on Tuesday, March 30, regarding the electric bonds. We <br />received a letter confirming the bond rating of Aa3 on Wednesday, April 7. The letter we <br />received from Moody’s is attached. <br /> <br />ATTACHMENTS: <br /> MMPA Statement regarding February Energy Market Activity <br /> Pay Equity In Compliance Letter <br /> Pay Equity In Compliance Certificate <br /> Rating Action – Moody’s – 07Apr21 <br /> <br />______________________________________________________________________________ <br />Page 1 of 1 <br />501 <br />