FMPA Weekly
A weekly e-newsletter for FMPA members
June 20, 2011
LAST WEEK
Wauchula Power Supply RFP
FMPA was notified earlier this month that the city of Wauchula has selected Florida Power & Light (FPL) as its power supply provider. WHH Enterprises, a consultant for the city, recommended FPL, saying FMPA’s price was 3% higher. Pending city commission approval, FPL will supply power to the city, which has a peak demand of 16 MW, over a three-year term beginning Oct. 1, 2011. Contact: Richard Montgomery
St. Lucie Project Bond Issue
FMPA’s Treasury Department released a preliminary official statement last Tuesday for the forthcoming sale of St. Lucie Project revenue bonds. The official statement provides information about the bond sale to potential investors. FMPA’s Board of Directors approved the financing plan at its meeting in May. FMPA is scheduled to finalize the transactions on June 28. Contact: Janet Davis
St. Lucie Credit Rating Affirmed
The credit rating for FMPA’s St. Lucie Project was affirmed last week by Moody’s Investors Service and Fitch Ratings for the planned sale this month of $62 million in St. Lucie Project revenue bonds. Moody’s and Fitch rated the bonds A2 and A, respectively, and both firms said the outlook is stable. Credit reports released by the agencies said the rating reflects the strong contract obligations of the project, the sound credit quality of the project participants, and the sound operating record of the project, among other factors. Contact: Mark Larson
ARP CROD Workshop
The All-Requirements Project (ARP) Executive Committee met last Thursday for a workshop to discuss Contract Rate of Delivery (CROD). The purpose of the workshop was to answer two questions from Fort Pierce Utilities Authority (FPUA): 1) what factors would the Executive Committee and FMPA staff considering when deciding whether to increase or decrease the calculated CROD amount by 15%, and 2) would the Executive Committee consider changing the designation of excluded resources under the ARP contract to include Stanton resources. FPUA will meet with the Fort Pierce City Commission on July 14 to report on the workshop and further discuss its CROD options. The workshop presentation is available on the Member Portal. Contact: Nick Guarriello
ARP Executive Committee Meeting
The All-Requirements Project (ARP) Executive Committee met last Thursday and unanimously approved all action items including: 1) ARP and Agency budgets for fiscal 2012, 2) an additional exit strategy for Taylor swaps, 3) release capacity option with Peoples Gas Service, and 4) GenOn permanent release capacity on Florida Gas Transmission to replace Gulfstream entitlement. The fiscal 2012 capacity and energy credits information item was changed to an action item and was also unanimously approved. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
Board of Directors Officer Nominees for 2011-2012
FMPA’s Nominating Committee released its recommendations last Friday for Board of Directors officers for 2011-2012. The Committee unanimously re-nominated Vince Ruano as Chairman, Paul Kalv as Vice-Chairman, Kevin McCarthy as Treasurer and Lou Heandez as Secretary. Each officer is willing to serve if elected. The vote to elect officers will take place at the annual conference in Palm Beach, Fla., during the Board of Directors meeting on July 22.
THIS WEEK
APPA National Conference
Nick Guarriello is attending the American Public Power Association’s (APPA) National Conference this Monday through Wednesday in Washington, D.C. The conference includes three days of programs that feature some of the nation’s most prominent political, economic and public policy leaders. The speakers will discuss what’s ahead for Congress, forecasts on the economy and trends in politics, society and our industry. Visit FMEA’s” rel=”nofollow”>https://fs6.formsite.com/fmea/form479319412/secure_index.html>FMEA’s website for registration information.
Utility Safety Leadership Review Course
The Utility Safety & Ops Leadership Network (USOLN) will hold a two-day Utility Safety Leadership Review Course Sept. 22 and Sept. 23 at FMPA’s Orlando office. The course will cover utility safety regulations and is recommended for anyone planning to take the Certified Utility Safety Professional exam. Participants will discuss topics, including leadership, human performance, standards, hazard identification and incident prevention. USOLN member and non-member rates are available. http://www.regonline.com/Register/Checkin.aspx?EventID=974697>Registration; is required. Visit http://www.fmpa.com;
Community Power. Statewide Strength. ®