FMPA Weekly
A weekly e-newsletter for FMPA members
Dec. 17, 2012
LAST WEEK
Audit and Risk Oversight Committee
FMPA’s Audit and Risk Oversight Committee met last Thursday and approved the risk inventory update. The Committee also heard information items including: 1) 2012 power generation performance, 2) information technology annual report, 3) fuels market update, and 4) risk management policy reviews. The full agenda package is available on the Member Portal. Contact: Rich Popp
Board of Directors
FMPA’s Board of Directors met last Thursday and approved: 1) the renewal of a contract with Swap Financial, 2) ISDA agreement amendments’ swap modifications, and 3) the Board officers’ recommendations and evaluations of FMPA’s General Manger and CEO and FMPA’s General Counsel. An information item was presented on the status of the Agency’s Strategic Plan. The members requested that the staff prepare a recommendation regarding a strategic planning session in 2013, and present the recommendation at a future meeting of the Board of Directors and Executive Committee. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
ARP Executive Committee
The ARP Executive Committee met last Thursday and approved the Executive Committee’s 2013 meeting schedule. The Committee agreed to continue to hold its monthly meetings on the third Thursday of the month with some exceptions. Information items also were presented, including a presentation on the All-Requirements Project’s Integrated Resource Plan. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
Holiday Angel Gift Drive
FMPA employees delivered several car-loads of gifts last Friday to Children’s Home Society (CHS) to grant the holiday wishes of 80 children. Employees donated toys, bikes, clothes, electronics and more as part of its annual holiday gift drive. This is the 14th consecutive year FMPA has partnered with CHS. Photos of FMPA’s holiday gift drive are posted on the Member Portal.
THIS WEEK
Audit and Risk Oversight Committee
FMPA’s Audit and Risk Oversight Committee meets Monday at 1 p.m. via conference call to conduct an exit interview with FMPA’s independent auditors, Purvis Gray & Company. The Committee will discuss the fiscal 2012 financial statements, Management Letter comments and management’s responses. Contact: Rich Popp
Holiday Office Closure
FMPA’s offices will be closed Dec. 24 and Dec. 25 in observance of the Christmas holiday. Have a safe and happy holiday!
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 Dec. 16. Contact: Jim Atz
COMING UP
Policy Makers Liaisons Committee
FMPA’s Policy Makers Liaisons Committee meeting originally scheduled for Jan. 16 has been rescheduled for Feb. 20 at 1 p.m. in the Board room. Lunch will be served at noon. Contact: Mark McCain
Telephonic Executive Committee Meeting
The All-Requirements Project Executive Committee will meet Jan. 17 via conference call. Contact: Nick Guarriello
Human Resources Roundtable
FMPA will host a Human Resources Roundtable on Jan. 23 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. Lunch will be provided, and http://www.fmpa.com/index.php/component/registrationpro/?view=event&did=50>registration; is requested. Participation in the roundtable via teleconference will be available for those unable to attend in person. Contact: Sharon Smeenk
APPA Winter Education Institute
FMPA is co-hosting the American Public Power Association’s APPA’s” rel=”nofollow”>http://www.publicpower.org/WinterInstitute/index.cfm?ItemNumber=32858>APPA’s website for registration and additional program information.
Distribution Reliability Measurement Roundtable
FMPA will host a Distribution Reliability Measurement Program Roundtable on Feb. 13 at 10 a.m. The roundtable provides a forum for participants to discuss topics including: reporting process, definitions and interpretations, best practices and more. Attendance is free and lunch will be provided. http://www.fmpa.com/index.php/component/registrationpro/?view=event&did=51>Registration; is requested. Contact: Sharon Smeenk
INDUSTRY NEWS
PSC Approves $350 Million Base Rate Increase for FPL
After hours of back and forth discussions, the Florida Public Service Commission unanimously approved last Thursday a $350 million base rate increase and a 10.5% Retu on Equity for Florida Power & Light (FPL) over the next four years. FPL early this year filed a proposal to raise base rates by $516.5 million effective January 2013, but it announced in August that it had reached a settlement agreement with groups of large electricity users. That agreement called for an initial $378 million increase in January and three future increases when new power plants start operating. The approved changes will lead to a $350 million increase in January and allow FPL to raise base rates in the future for the new plants. Beginning in January, FPL said a residential customer who uses 1,000 kWh per month will pay $94.25, a decrease of 37 cents compared to current rates due to a lower fuel cost adjustment that also takes effect in January. Such monthly bills would then increase by less than $1 in June when a new Cape Canaveral power plant comes online, according to FPL. Future rate increases would happen in 2014 and 2016 when power plants at Riviera Beach and Port Everglades start operating. The Florida Office of Public Counsel opposed the settlement, arguing that it was not in the interest of rate payers.
FPL Seeks New Natural Gas Pipeline
With utilities in Florida relying heavily on natural gas to fuel power plants, Florida Power & Light (FPL) is pursuing a plan to add a new natural gas transportation pipeline that would stretch across hundreds of miles of the state. FPL this month plans to issue a request for proposals to companies interested in building the pipeline, which would be scheduled to begin operating in 2017. FPL says the pipeline would allow Florida to become less reliant on natural gas from the Gulf of Mexico region and bring in supplies from other parts of the country. FPL made a presentation Nov. 26 to Florida Public Service Commission staff members and companies that might participate in the project. The exact route remains unclear, but the project would involve two segments. A northe segment would stretch from a natural gas supply hub in weste Alabama across part of north Florida and then southeast into the Orlando area where it would connect with other existing pipelines. A southe segment would go from the Orlando area to an FPL power plant in Martin County. While other utilities could use gas transportation in the northe segment, the southe segment is planned for FPL’s exclusive use. FPL would not own the northe segment but could decide to build the southe segment itself, possibly through an affiliated company. The exact cost remains unclear, though it could reach into the billions of dollars. FPL officials say any resulting costs would not be passed along to customers until after the pipeline goes into service in 2017.
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
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