FMPA Weekly
A weekly e-newsletter for FMPA members
Sept. 17, 2012
LAST WEEK
Debt Restructuring
FMPA closed last Wednesday on the sale of $136 million of St. Lucie and Stanton II bonds. FMPA’s Board of Directors approved the refinancing at its August meeting to secure an economical interest rate and to reduce basis risk and interest rate risk. FMPA will purchase and retire $62.5 million in St. Lucie Series 2000 and 2002 auction rate securities. FMPA will also purchase and retire $23.9 million in Stanton II Series 2000 and 2002 auction rate securities, refund $52 million in Stanton II Series 2002 bonds and issue $6.1 million of new money for Stanton II. As part of the refinancing, FMPA has offered to buy back a portion of its St. Lucie Project and Stanton II Project auction-rate securities at a proposed discount from Morgan Stanley. FMPA’s Finance Committee plans to discuss in the coming weeks a public tender offer for more of the projects’ outstanding auction-rate securities. Contact: Mark Larson
Computer Donation
FMPA donated six surplus computers last Thursday to the Central Florida Community BreadBasket in Intercession City. The BreadBasket is located near the Cane Island Power Park and provides food assistance and community outreach programs for more than 1,200 hungry, homeless and needy families each day. Luis Cruz and Rattanak Srun delivered and set up the computers, which will be used by students participating in the BreadBasket’s afterschool programs. FMPA has helped support the BreadBasket since 2008.
THIS WEEK
FMPA Finance Committee
FMPA’s Finance Committee meets Monday via conference call with Nat Singer, FMPA’s swap advisor. Discussion topics include: 1) public tender offers for St. Lucie and Stanton II project bonds and the opportunity to buy back bonds at a discounted rate, 2) fixed-rate refundings on Stanton and Tri-City project bonds, and 3) the UBS class action settlement. Contact: Janet Davis
FMPA Compliance Workshop
FMPA hosts a two-day Compliance Workshop on Monday and Tuesday in the Board room to discuss topics including North American Electric Reliability Corporation standards, the southwest outage and document classification. Contact: Frank Gaffney
New Employee
Please welcome Michelle Robinson-Austin, FMPA’s new Environmental Specialist, to the staff on Monday. Michelle comes to FMPA from the Florida Department of Environmental Protection where he served as Environmental Specialist, Air Program. She received a bachelor’s degree in chemistry from Spelman College.
Human Resources Roundtable
FMPA hosts a Human Resources Roundtable on Wednesday at 10 a.m. in the Board room. The roundtable provides a forum for participants to discuss topics, such as benefits, recruiting, employee retention, training, policies and more. Participation in the roundtable via teleconference will be available for those unable to attend in person. Contact: Sharon Smeenk
CR3 Participants’ Annual Meeting
Rich Popp, Liyuan Woeer, Jason Wolfe and Ron Bright, FMPA’s nuclear consultant, are attending the Crystal River Unit 3 (CR3) participants’ annual meeting Wednesday at the plant’s training facility. Discussion topics will include status updates on the Duke Energy-Progress Energy merger and repairs to CR3.
All-Requirements Project Weekly Load Statistics
The weekly update of the All-Requirements Project historical load graph has been posted on the Member Portal. The graph is updated through Sept. 16. Contact: Jim Atz
COMING UP
AROC Meeting
FMPA’s Audit and Risk Oversight Committee meets Sept. 27 at 8 a.m. in the Board room. Contact: Rich Popp
Board of Directors
FMPA’s Board of Directors meets Sept. 27 at 9 a.m. in the Board room. Contact: Nick Guarriello
ARP Executive Committee
The ARP Executive Committee meets Sept. 27 in the Board room at 9:30 a.m., or immediately following the Board of Directors meeting. Contact: Nick Guarriello
Lineman’s Roundtable
FMPA’s next Lineman’s Roundtable is Oct. 11 at 10 a.m. in Mount Dora. The roundtable provides a forum for line crews to exchange ideas on operating practices, safety, training, tools and equipment, and other common issues. Attendance is free and lunch will be provided. The deadline to http://www.fmpa.com/index.php/component/registrationpro/?view=event&did=4>register; is Sept. 28. Contact: Sharon Samuels
FMEA Utility Education Days
The 2012 Florida Municipal Electric Association (FMEA) Utility Education and Trade Show Days are scheduled for Oct. 18 and Oct. 19 at the Hilton University of Florida Conference Center in Gainesville. Topics include customer service, safety and training, transmission and distribution, and lineworker skills. The hotel registration deadline is Monday. Visit the Florida Municipal Electric Association’s http://publicpower.com/utility-education-days/>website; for more information or to register.
INDUSTRY NEWS
JEA Names McElroy as New CEO
JEA’s Board of Directors has named Paul McElroy as the utility’s new Chief Executive Officer and Managing Director effective Oct. 1. The selection occurred at a Sept. 7 special meeting after the utility’s first choice, Joseph Belechak, announced he would no longer accept the position of CEO. Belechak told The Florida Times-Union he was choosing instead to stay closer to family in Pittsburgh. McElroy has been JEA’s Chief Financial Officer since 2002. Before joining JEA, he was vice president and general manager of Bombardier Capital Corporation. McElroy is a member of the Finance and Audit Committee for The Energy Authority and has served as its chair. He has a bachelor’s degree in accounting. McElroy will replace Jim Dickenson, who will retire when his contract expires Feb. 1.
PSC to Conduct Smart Meter Workshop
The Florida Public Service Commission (PSC) will host a workshop on smart meters this Thursday at 9:30 a.m. in Tallahassee. The purpose of the workshop is for the Commission and its staff to gather information conceing technical and policy issues surrounding the design, installation and use of smart meters. Discussion topics will include: 1) jurisdiction, 2) health, 3) privacy, 4) data security, and 5) smart meter alteatives. Public comment will be taken.
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 Ryan Dumas or Jane Stewart This e-mail address is being protected from spambots. You need JavaScript enabled to view it 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: Ryan Dumas or Jane Stewart
Florida Municipal Power Agency
8553 Commodity Circle
Orlando, FL 32819-9002
Tel 407 355-7767
Fax 407 355-5794
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