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��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 />December 13, 2022 <br />6.1a <br />SUBJECT: <br />Staff Update <br />ACTION REQUESTED: <br />None <br />DISCUSSION: <br />• 1 have been working on finalizing the last policies to close out the policy manual project, <br />a succession planning document, and I still have employee reviews to complete before <br />the month ends. <br />The Board of Directors of the Minnesota Municipal Power Agency (MMPA) met on <br />November 22, 2022, at Chaska City Hall in Chaska, Minnesota and via videoconference. <br />Mary Stewart, Mark Hanson, and I were in attendance. (This was my last board meeting <br />with MMPA). The public summary of the meeting is below. <br />o The Board reviewed the Agency's financial and operating performance for <br />October 2022. <br />o It was announced that Fitch Ratings had upgraded MMPA's bond rating from A+ <br />to AA-. Fitch cited MMPA's strong financial performance, competitive rates, and <br />strong member credit quality as reasons for the upgrade. <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 ten of twelve MMPA members have extended member <br />power sales agreements through 2060. The ten members that have extended <br />represent approximately 95% of MMPA's energy sales. <br />o Customer penetration for the residential Clean Energy Choice program increased <br />to 4.2%. There was an increase of 51 customers participating in the residential <br />Clean Energy Choice program from September to October. <br />• As my time at ERMU draws to a close, I am grateful for all the great people associated <br />with this great company. Thank you for the support, assistance, and grace extended to <br />me while in this position. I look forward to hearing about all the great things ERMU does <br />in the future! <br />Page 1 of 1 <br />154 <br />