6.1a ERMUSR 12-13-2022��i
Elk River
Municipal Utilities UTILITIES COMMISSION MEETING
TO:
FROM:
ERMU Commission
Theresa Slominski —General Manager
HEMEETING DATE:
AGENDA ITEM NUMBER:
December 13, 2022
6.1a
SUBJECT:
Staff Update
ACTION REQUESTED:
None
DISCUSSION:
• 1 have been working on finalizing the last policies to close out the policy manual project,
a succession planning document, and I still have employee reviews to complete before
the month ends.
The Board of Directors of the Minnesota Municipal Power Agency (MMPA) met on
November 22, 2022, at Chaska City Hall in Chaska, Minnesota and via videoconference.
Mary Stewart, Mark Hanson, and I were in attendance. (This was my last board meeting
with MMPA). The public summary of the meeting is below.
o The Board reviewed the Agency's financial and operating performance for
October 2022.
o It was announced that Fitch Ratings had upgraded MMPA's bond rating from A+
to AA-. Fitch cited MMPA's strong financial performance, competitive rates, and
strong member credit quality as reasons for the upgrade.
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 ten of twelve MMPA members have extended member
power sales agreements through 2060. The ten members that have extended
represent approximately 95% of MMPA's energy sales.
o Customer penetration for the residential Clean Energy Choice program increased
to 4.2%. There was an increase of 51 customers participating in the residential
Clean Energy Choice program from September to October.
• As my time at ERMU draws to a close, I am grateful for all the great people associated
with this great company. Thank you for the support, assistance, and grace extended to
me while in this position. I look forward to hearing about all the great things ERMU does
in the future!
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