FMPA Weekly
A weekly e-newsletter for FMPA members
Aug. 10, 2009
LAST WEEK
Strategic Plan
FMPA’s Strategic Plan was updated to add action items recently approved by the FMPA Board of Directors and ARP Executive Committee. The plan now includes the vision, mission, values, goals, strategies and action items. FMPA is also developing a status report to communicate progress toward goals. To view the Strategic Plan, visit the FMPA Member Portal.
All-Requirements Receives $8.8 Million from Gas Pre-Pay
The All-Requirements Project was wired $8.8 million last Friday, the value of a natural gas pre-pay transaction that was recently unwound. FMPA and other Florida Gas Utility members prepaid UBS for natural gas to secure long-term fuel supply at below-market prices. The pre-pay contract was designed to protect FMPA and its partners from counterparty risk, so when UBS’ creditworthiness was compromised by the financial crisis, FGU and UBS negotiated to unwind the purchase and compensate the FGU members for the value of the deal. ARP Executive Committee members will be asked to decide how to use the money at their next meeting. Contact: Mark Larson
Smart Grid Investment Grant Application
Fort Pierce, Homestead and Ocala submitted a joint Smart Grid Investment Grant application last Thursday to the U.S. Department of Energy. The cities have proposed a $15.6 million project, and they are seeking a grant from the federal govement for half of the cost. The proposed project seeks to modeize the utilities’ electric transmission and distribution systems, to engage customers in energy consumption decisions, and to share their programs’ success so that others may lea about the benefits of Smart Grid technology. The Department of Energy has up to 90 days to respond to the proposal. Contact: Mike Siefert
Information Systems Audit
FMPA met with representatives from Protiviti last Friday to discuss the final draft of the Information Technology General Controls Assessment. The report will be finalized and presented at a future meeting of the Audit and Risk Oversight Committee. Contact: Rich Popp or Carter Manucy
Regions Bank
Mark Larson met with Regions Bank last Tuesday to discuss how the bank could assist FMPA with its financial needs.
Bank of Montreal
Janet Davis, Kristi Knight, Mark Larson, Ed Nunez and FMPA’s Financial Advisor Craig Dunlap met with Brian Maller of Bank of Montreal last Wednesday to discuss FMPA’s line of credit needs and possible underwriting opportunities.
Aegis
Tim Jackson, Rich Popp, Tom Reedy and David Schumann met with representatives from Aegis at Treasure Coast Energy Center last Thursday to discuss FMPA’s generation fleet.
Residential Meter Bid
The residential meter bid has been extended. It will expire in October 2010. Contact: Sharon Samuels
FMEA-FMPA Annual Conference
Highlights from the 2009 FMEA-FMPA Annual Conference, including speaker presentations and sponsor listings, have been posted on the FMPA’s” rel=”nofollow”>http://fmpa.com/html/member_services/calendar.html>FMPA’s Web site. Contact: Sharon Smeenk
Lineman’s Roundtable
FMPA’s next Lineman’s Roundtable is scheduled for Oct. 14 in Mount Dora at 10 a.m. Roundtable participants will exchange ideas on operations practices, safety training, tools and equipment. For more information and to register, visit