6.1b ERMUSR 03-10-2020 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Theresa Slominski –Administrations Director MEETING DATE: AGENDA ITEM NUMBER: March 10, 2020 6.1b SUBJECT: Staff Update ACTION REQUESTED: None DISCUSSION: The auditors from Abdo, Eick, and Meyers werehere February 27-28, 2020 for our annual audit. All went well and there were no findings to report, or additional entries necessary (other than the planned pensionand OtherPostemploymentBenefitsentries the auditors provide). The auditorsstated Melissa and her staff did a great job, as expected. The final audit report will be presented at the April commission meeting. We received some additional information on the Midcontinent Independent System Operator (MISO) reporting timelines since the Federal refunding order has been issued to reduce the rate of return on equity (ROE) for transmission assets from 12.38% to 9.88%. This is for all future returns, and from previous returns of 9/28/16 - 11/21/19. 2020 estimated projections for ERMU are approximately a $7,000 reduction in revenue as a result of the reduced ROE. The best guess is that it would be $7,000 or less per year in refunds to be paid for the prior years of 2016-2019. As the previous years are looked at and recalculated, refund orders will be issued starting early 2021, with all refunds to hopefully be completed late 2022. All of this will be coordinated through Central Minnesota Municipal Power Agency (CMMPA), as we report to them and they file with MISO on our behalf. Mobile Workforce/AppSuite live date implementation was the week February 4-6, 2020. We are continuing to work through minor issues with our project manager and will be released to general support mid-March. We have everything submitted to NISC for the bill redesign and now they will be programming for about two months. ______________________________________________________________________________ Page 1 of 1 80