FMPA Weekly
A weekly e-newsletter for FMPA members
Feb. 22, 2010
LAST WEEK
ARP Executive Committee
FMPA’s ARP Executive Committee met last Thursday. The Committee approved a revision to FMPA’s Asset Management and Operations Policy and tabled a short-term hedging strategy for six months to monitor how the proposed strategy would operate. The revised Asset Management and Operations Policy is posted on the Member Portal.
ARP Business Model Working Group
FMPA’s ARP Business Model Working Group met last Wednesday to continue its discussion of FMPA’s rate-setting process. The next meeting was scheduled for March 4 at 9 a.m. in FMPA’s Board room. Contact: Nick Guarriello
Swap Terminations
FMPA terminated two $50 million interest swaps last Wednesday. The swaps with Wachovia and Goldman Sachs were originally put in place for the Taylor Energy Center project. FMPA will receive $42,300 from the Wachovia trade and $65,000 from the Goldman Sachs trade, and the net profit, after paying swap advisor fees, will add up to $50,100. Contact: Janet Davis
2009 Annual Report
FMPA’s fiscal 2009 Annual Report was recently mailed to members and posted on FMPA’s Web site. The report, titled “2009: The Story in Black & White, tells the story of the past fiscal year through a series of questions and answers about where FMPA is and where we’re going. Registrationhttp://fmpa.com/index.php/component/registrationpro/?view=event&did=16>Registration; is $250 for FMPA members. Contact: Mike Siefert
Solar Dedication Reminder
All-Requirements members planning to attend the Solar Demonstration Project Dedication on March 26 are reminded to RSVP to Diane Nelson no later than March 12.
Net Metering Reports Reminder
FMPA reminds members to complete and submit net metering reports to Ann Beckwith by March 15. The reports are required for a Public Service Commission filing due April 1.
INDUSTRY NEWS
Nuclear Project in Georgia Receives Federal Loan Guarantees
President Obama and Energy Secretary Steven Chu announced last week that the federal govement will provide approximately $8 billion in loan guarantees to a proposed nuclear power project in Georgia. The project would be the first new nuclear power reactors in the United States in 30 years. The two new 1,100 megawatt nuclear reactors would be owned 22.7% by MEAG Power, 45.7% by Georgia Power, 30% by Oglethorpe Power, a power cooperative, and 1.6% by Dalton, Ga., Utilities. MEAG Power plans to sell approximately 40% of its share of output from the new units to JEA in Florida and approximately 25% to PowerSouth Energy Cooperative in Alabama. The Nuclear Regulatory Commission will evaluate the project’s license application in late-2011 or early-2012.
FMPA Weekly is published by FMPA for employees and goveing boards of FMPA member utilities. Questions or comments about this newsletter may be directed to Skye Guthrie or Diane Nelson in FMPA’s Public Relations Department.
Want more background on the names and terms used in this newsletter? Check out FMPA’s Glossary, which features some of the most frequently mentioned committees, companies, places and terms, or contact the person named in each FMPA story to lea more. (Click here for the Staff Directory).
Have a question, comment or story idea for the newsletter? FMPA welcomes your feedback at any time. Contact: Skye Guthrie or Diane Nelson