6.1a ERMUSR 05-10-2022 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Theresa Slominski –General Manager MEETING DATE: AGENDA ITEM NUMBER: May 10, 2022 6.1a SUBJECT: Staff Update ACTION REQUESTED: None DISCUSSION: The Board of Directors of the Minnesota Municipal Power Agency (MMPA) met on April 26, 2022, at Faribault Energy Park in Faribault, Minnesota and via videoconference. Mary Stewart and I were in attendance and thepublic summary of the meeting is below. o BKD presented the Agency’s 2021 audit report. The Board received and accepted the audit report. The audit report is available on MMPA’s website, at www.mmpa.org o The Board reviewed the Agency’s financial and operating performance for March 2022. o The Board discussed the current business environment and its impacts on MMPA’s plans. o There was an increase of 10 customers participating in MMPA’s residential Clean Energy Choice program from February to March. Customer penetration of the program for residential customers remains at 3.8%. Per last month’s MMPA Board Update, the Board approved a resolution requesting that MMPA member cities extend their Power Sales Agreements (PSA) with the Agency through December 31, 2060. MMPA’s debt is secured by its PSA with members. MMPA expects to make capital investments financed with 30-year debt during the next eight years. This extension would allow MMPA to issue 30-year debt through 2030. The MMPA Annual Meeting is Tuesday, July 26 at the Anoka Greenhaven Golf Course. You should have, or will be receiving an invite to this event, along with the City Council members. This meeting will be a great opportunity for you to hear firsthand the long- term plans of the agency and get comfortable with extending the PSA. I encourage you to consider attending this event. ______________________________________________________________________________ Page 1 of 1 128