A weekly e-newsletter for FMPA members
April 25, 2011
Business Model Working Group
The All-Requirements Project Business Model Working Group (BMWG) met last Tuesday to discuss Public Gas Partners. The BMWG’s next meeting is June 1 at 10 a.m. in the Board room to recap the Public Gas Partners discussion and consider new options for stabilizing wholesale electric rates. Contact: Nick Guarriello
Three Phase Times
FMPA’s Power Resources Division published the latest issue of Three Phase Times last week on the Member Portal. It includes information on the All-Requirements Project’s (ARP) system peak, hourly load comparisons, resource fuel mix, natural gas usage by resource, Cane Island Unit 4 project milestones and budget, natural gas market pricing and other performance information for ARP. The newsletter reports that natural gas represented 80% of the ARP’s generation fuel mix during March, up from 71% in February 2011. The higher gas usage was due to relatively low gas prices making gas combustion generation economical compared to coal generation and other resources. Also, the coal-fired Stanton Unit 1 was on planned outage throughout March. Contact: Tom Reedy
Reminder: AROC Meeting Cancelled
FMPA’s Audit and Risk Oversight Committee (AROC) meeting originally scheduled for this Wednesday has been cancelled. The Committee’s next meeting is May 25 at 1 p.m. Contact: Rich Popp
Policy Makers Liaisons Committee
FMPA’s Policy Makers Liaisons Committee meets Wednesday at 2 p.m. at Cane Island Power Park near Kissimmee. Committee members will hold a business meeting and tour Cane Island, including Unit 4, which is nearing the end of construction and preparing for commercial operation. The full agenda package is available on the Member Portal. Contact: Mark McCain
Board of Directors
FMPA’s Board of Directors meets Thursday in the Board room at 9 a.m. to discuss: 1) ratifying the April 7 vote approving Citi’s offer of a discounted sale of St. Lucie and Stanton II auction rate securities, 2) approval of revisions to the accounting and inteal controls risk management policy, and 3) appointment of a Nominating Committee. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
ARP Executive Committee
The All-Requirements Project Executive Committee meets Thursday in the Board room at 9:30 a.m. or immediately following the Board of Directors meeting to consider action items including: 1) approval of a Bank of America Merrill Lynch letter of credit proposal, 2) approval of a feed-in tariff, 3) approval of continuing FST and hedging program, 4) approval of revisions to the accounting and inteal controls risk management policy, and 5) approval of Florida Gas Utility GSAP 3 letter of intent. The Committee will also discuss FMPA’s operating policy on running generation units out of economics. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
Lineman’s Safety Training Program
Mike McCleary of Electric Cities of Georgia travels to Newberry this week to present a Lineman’s Safety Training program to the city for the first time since it joined FMPA’s safety program. The total number of cities participating in the program is now 14, and other cities are considering joining. Contact: Mike Siefert
All-Requirements Project Load
The weekly update of the All-Requirements Project historical load graph has been posted on the Member Portal. The graph is updated through April 24. Contact: Jim Atz
Congratulations to Juan Bailey, who celebrates three years with FMPA on Thursday, April 28.
Congratulations to Rich Popp, who celebrates nine years with FMPA on Friday, April 29.
CREAC Telephonic Meeting
FMPA’s Conservation and Renewable Energy Advisory Committee (CREAC) meets May 5 at 10 a.m. via conference call. Contact: Sharon Smeenk
Executive Committee OATT Workshop
The All-Requirements Project Executive Committee will hold a workshop May 10 in the Board room at 10 a.m. to discuss the open access transmission tariff, member agreements, and cost and revenue stream. Contact: Frank Gaffney
Business Planning and Budget Committee
FMPA’s Business Planning and Budget Committee meets May 11 at 9:30 a.m. in the Board room for a second review of the Agency’s proposed fiscal 2012 budget. Contact: Mark Larson
Protective Relay Seminar
FMPA and Schweitzer Engineering Laboratories (SEL) will hold a one-day protective relay seminar May 19 at FMPA’s Orlando office. The seminar is a great opportunity for relay protection personnel to discuss protection systems and future projects. There is no cost to attend this seminar. Contact Mike Siefert for more information, or register on http://fmpa.com/index.php/component/registrationpro/?view=event&did=34>FMPA.com;.
Crystal River Unit 3 Put in Dry Lay-up
Progress Energy Florida announced last week that it is putting Crystal River Unit 3 in dry lay-up as the company studies a new occurrence of concrete delamination on the nuclear unit’s containment building. Dry lay-up means that water will be drained from steam-related components primarily in the turbine building and the reactor’s fuel will be removed. The containment building remains in stable condition, Progress Energy officials said, as the company works with a consultant, Bechtel, to narrow the list of repair options. Putting the secondary system in dry lay-up should be complete by April 25, and fuel in the reactor is expected to be moved to the spent fuel pool for storage by May 9.
Moody’s Places MEAG Nuclear-Related Bonds on Negative Watch
Moody’s Investors Service last week changed the credit rating outlook for the Municipal Electric Authority of Georgia’s (MEAG) bonds with nuclear exposure from stable to negative. Moody’s said the change comes in the aftermath of the Japanese nuclear crisis and is based on regulatory risks related to existing nuclear generation and MEAG’s participation in a new nuclear expansion project at the Vogtle Nuclear Power Plant. Moody’s noted in its analysis that the utility is “as well-positioned as one could expect with strong financial liquidity but cited “significant new political and regulatory scrutiny as a future source of cost pressures for MEAG power participants. Moody’s reported that more than 40% of MEAG’s resource mix is nuclear generation.