Laserfiche WebLink
��i <br />Elk River <br />Municipal Utilities UTILITIES COMMISSION MEETING <br />TO: <br />FROM: <br />ERMU Commission <br />Theresa Slominski —General Manager <br />HEMEETING DATE: <br />AGENDA ITEM NUMBER: <br />November 8, 2022 <br />6.1a <br />SUBJECT: <br />Staff Update <br />ACTION REQUESTED: <br />None <br />DISCUSSION: <br />I have been working on the Competitive Rates Policy, gathering history from prior years <br />for the competitive comparisons. Unfortunately, this policy is not ready to present at <br />the November meeting. <br />• The Board of Directors of the Minnesota Municipal Power Agency (MMPA) met on <br />October 25, 2022, at Chaska City Hall in Chaska, Minnesota and via videoconference. <br />Mary Stewart, Mark Hanson, and I were in attendance. The public summary of the <br />meeting is below. <br />o The Board reviewed the Agency's financial and operating performance for <br />September 2022. <br />o The Board discussed the current business environment. <br />o The Board discussed the status of renewable projects the Agency is pursuing. <br />o It was reported that eight of the twelve MMPA members have extended <br />member power sales agreements through 2060. The eight members that have <br />extended represent approximately 74% of MMPA's energy sales. <br />o Customer penetration for the residential Clean Energy Choice program increased <br />to 4.1%. There was an increase of 70 customers participating in the residential <br />Clean Energy Choice program from August to September. <br />o MMPA reviewed the attached abridged Xcel investor relations <br />presentation. (Abridged because the slides removed relate to Xcel's non - <br />Minnesota utility operations.) MMPA's strategy is to always be 10% below Xcel <br />so they consistently compare themselves to Xcel's performance. MMPA is 6% in <br />size compared to Xcel and noted that 6% of the dollars that Xcel is putting <br />towards various projects is comparable to what MMPA is doing in most instances <br />(MMPA is not investing in hydrogen resources and is already coal -free). It was <br />also noted that MMPA's recently upgraded bond rating is better than Xcel's. <br />ATTACHMENTS: <br />• Xcel Investor Relations Presentation — September 28, 2022 <br />Page 1 of 1 <br />109 <br />