6.1a ERMUSR 11-8-2022��i
Elk River
Municipal Utilities UTILITIES COMMISSION MEETING
TO:
FROM:
ERMU Commission
Theresa Slominski —General Manager
HEMEETING DATE:
AGENDA ITEM NUMBER:
November 8, 2022
6.1a
SUBJECT:
Staff Update
ACTION REQUESTED:
None
DISCUSSION:
I have been working on the Competitive Rates Policy, gathering history from prior years
for the competitive comparisons. Unfortunately, this policy is not ready to present at
the November meeting.
• The Board of Directors of the Minnesota Municipal Power Agency (MMPA) met on
October 25, 2022, at Chaska City Hall in Chaska, Minnesota and via videoconference.
Mary Stewart, Mark Hanson, and I were in attendance. The public summary of the
meeting is below.
o The Board reviewed the Agency's financial and operating performance for
September 2022.
o The Board discussed the current business environment.
o The Board discussed the status of renewable projects the Agency is pursuing.
o It was reported that eight of the twelve MMPA members have extended
member power sales agreements through 2060. The eight members that have
extended represent approximately 74% of MMPA's energy sales.
o Customer penetration for the residential Clean Energy Choice program increased
to 4.1%. There was an increase of 70 customers participating in the residential
Clean Energy Choice program from August to September.
o MMPA reviewed the attached abridged Xcel investor relations
presentation. (Abridged because the slides removed relate to Xcel's non -
Minnesota utility operations.) MMPA's strategy is to always be 10% below Xcel
so they consistently compare themselves to Xcel's performance. MMPA is 6% in
size compared to Xcel and noted that 6% of the dollars that Xcel is putting
towards various projects is comparable to what MMPA is doing in most instances
(MMPA is not investing in hydrogen resources and is already coal -free). It was
also noted that MMPA's recently upgraded bond rating is better than Xcel's.
ATTACHMENTS:
• Xcel Investor Relations Presentation — September 28, 2022
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