FMPA Weekly
A weekly e-newsletter for FMPA members
June 8, 2015
LAST WEEK
Fitch Rates ARP Bonds A+, Outlook Stable
Fitch Ratings announced last Tuesday that it has assigned an “A+ rating to the following FMPA revenue bonds: 1) approximately $110,610,000 All-Requirements Power Supply Project (ARP) revenue bonds series 2015B, and 2) approximately $248,695,000 ARP refunding revenue bonds series 2015C. The bonds are scheduled to price via negotiation the week of June 15. The series 2015B bonds will provide funds needed to repay draws under an existing credit agreement previously used to fund the termination of nine prior interest rate swaps. The series 2015C bonds will advance refund all or a portion of the ARP Series 2008A and Series 2009A bonds for level-interest cost savings. Fitch also confirmed that the ARP’s rating outlook is “Stable. Contact: Mark Larson
Business Planning and Budget Committee
FMPA’s Business Planning and Budget Committee met last Thursday and approved: 1) recommending the proposed fiscal 2016 St. Lucie Project budget to the Board of Directors for final approval, 2) recommending the proposed fiscal 2016 Stanton Project budget to the Board of Directors for final approval, 3) recommending the proposed fiscal 2016 Tri-City Project budget to the Board of Directors for final approval, and 4) recommending the proposed fiscal 2016 Stanton II Project budget to the Board of Directors for final approval. The Committee also approved the proposed fiscal 2016 All-Requirements Project (ARP) budget, subject to the Executive Committee’s final determination of the placement of the debt service for the Taylor swaps termination financing in either the demand rate or energy rate. ARP budget issues raised by Keys Energy Services will addressed administratively. Contact: Mark Larson
THIS WEEK
PSC Solar Power Request
FMPA’s System Planning Department is working with the Florida Municipal Electric Association on a response to the Florida Public Service Commission (PSC), which is requesting information on demand-side and supply-side solar power systems. The Florida Supreme Court is scheduled to decide whether a proposed referendum asking voters to allow entities other than utilities to sell solar power will appear on the November 2016 ballot. Florida currently prohibits electric customers from buying power, including solar, directly from anyone other than an electric utility. Contact: Michele Jackson
ARP Telephone Rate Workshop
The ARP Executive Committee meets Tuesday at 2 p.m. via conference call for the monthly All-Requirements Project Rate Workshop. The agenda includes: 1) an update on natural gas markets and liquidity, 2) an overview of May operations, loads, costs and rate calculations, and 3) estimated rates for June through August. Contact: Jim Atz
Stanton and St. Lucie Participants Meeting
Several FMPA employees attend on Thursday the quarterly participants meeting for Stanton Units 1, 2 and A and Indian River Units A, B, C and D. St. Lucie participants meet Friday at the plant’s training facility for their annual meeting. Contact: Rich Popp
Member Services Satisfaction Survey
Friday is the deadline to participate in FMPA’s Member Services Satisfaction Survey. The survey was emailed May 20 to FMPA’s Board of Directors. The survey was developed in conjunction with FMPA’s Member Services Advisory Committee and is intended to measure satisfaction with FMPA services other than power supply. The survey consists of eight questions and should take less than five minutes to complete. The survey is being conducted as directed in the Board of Directors’ strategic plan. Contact: Sharon Smeenk
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 June 7. Contact: Jim Atz
Special Dates
Congratulations to Steve Ruppel, who celebrates 17 years with FMPA on Monday, June 8.
Congratulations to Jim Hay, who celebrates 13 years with FMPA on Wednesday, June 10.
COMING UP
Board of Directors
FMPA’s Board of Directors will meet June 18 at 9:30 a.m. in the Board room. Contact: Nick Guarriello
ARP Executive Committee
The ARP Executive Committee will meet June 18 in the Board room at 10 a.m. or immediately following the Board of Directors. Contact: Nick Guarriello
Substation Training
FMPA will host a Substation Training series at at the Orlando Utilities Commission’s Pershing Avenue facilities beginning Aug. 18. The series will include four, two-day training sessions that focus on substation safety, inspection, testing and maintenance. Session one is scheduled for Aug. 18 and Aug. 19 and will discuss substation safety awareness basics. Session two is scheduled for Oct. 14 and Oct. 15 and will discuss substation inspection and testing basics. Session three will be held in spring 2016 and discuss substation maintenance. Session four will be held in fall 2016 and discuss substation protection and theory. Participants can attend the entire series or individual sessions. The cost is $900 per two-day session. http://fmpa.com/event/substation-training-series-session-1-substation-safety-awareness-basics/>
INDUSTRY NEWS
EPA Submits Final Clean Power Plan for Interagency Review
The Environmental Protection Agency (EPA) submitted its final Clean Power Plan to the White House Office of Management and Budget (OMB) on June 1 for interagency review. EPA’s proposed rule aims to reduce carbon dioxide emissions from existing power plants by 30% by 2030. The rule was proposed through the EPA’s authority under the Clean Air Act section 111(d). According to the OMB notice announcing its review, the final section 111(d) rule does not require EPA to conduct a regulatory flexibility analysis because the compliance obligation is being placed on the state through state compliance plans. OMB has been reviewing separate rules for carbon dioxide emissions from new and modified plants under Section 111(b) of the Clean Air Act since May. All of those rules are expected to be finalized this summer.
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 Nathalia Romano 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 Nathalia Romano
Florida Municipal Power Agency
8553 Commodity Circle
Orlando, FL 32819-9002
Tel 407 355-7767
Fax 407 355-5794
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