FMPA Weekly
A weekly e-newsletter for FMPA members
Dec. 14, 2015
LAST WEEK
Goveing Board Information Posted to FMPA.com
FMPA has begun posting to http://fmpa.com/meetings/meeting-agendas/>
THIS WEEK
Audit and Risk Oversight Committee
The Audit and Risk Oversight Committee meets Monday at 10 a.m. via conference call to conduct an exit interview with FMPA’s independent auditors, Purvis Gray & Company. Contact: Rich Popp
Board of Directors Workshop
FMPA’s Board of Directors meets Wednesday at 10 a.m. in the Board room to discuss filling the pending General Manager vacancy. The workshop will be facilitated by Carl Mycoff, managing director of Mycoff, Fry & Prouse. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
Audit and Risk Oversight Committee
The Audit and Risk Oversight Committee meets Thursday at 9:30 a.m. in the Board room to discuss the approval of and recommend to the Board of Directors the St. Lucie audit report for 2013-2014. The Committee will also discuss information items, including: 1) 2015 generation performance report, 2) 2015 vendor risk review, 3) fuel market update, 4) risk management policy review, 5) pro forma debt report, 6) St. Lucie Capital Appreciation Bonds update, and 7) Baker Tilly’s recommended change to the Natural Gas and Fuel Oil Policy. The full agenda package is available on the Member Portal. Contact: Rich Popp
Board of Directors
The Board of Directors meets Thursday in the Board room at 10:15 a.m. or immediately following the Audit and Risk Oversight Committee meeting. The Board will discuss: 1) approval of authorization for the American Public Power Association’s PowerPAC to contact FMPA Board members and FMPA senior staff, and 2) approval of the St. Lucie audit report for 2013-2014. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
ARP Executive Committee
The ARP Executive Committee meets Thursday in the Board room at 10:45 a.m. or immediately following the Board of Directors meeting. The Committee will discuss: 1) approval of the Executive Committee 2016 meeting schedule, 2) approval of amendment to the U.S. Sugar Interconnection Agreement, 3) acceptance of management consultant’s report for Auditor General Findings Nos. 1 and 14, and 4) approval of term sheet for All-Requirements Project Series 2008A and 2009A bond refunding. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
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. 13. Contact: Jim Atz
COMING UP
Holiday Office Closures
FMPA’s offices will be closed Dec. 24 and Dec. 25 in observance of the Christmas holiday. FMPA’s offices will also be closed Dec. 31 and Jan. 1 in observance of the New Year’s holiday.
Substation Training
FMPA will continue to host Substation Training in 2016. The next two-day session is scheduled for Feb. 3 and Feb. 4 at FMPA’s Orlando office and will focus on substation protection and theory. The cost is $900 per person, and lunch will be provided. The deadline to http://fmpa.com/event/substation-training-series-substation-protection-theory/>
INDUSTRY NEWS
Supreme Court Hears Challenge to FPL Natural Gas Investment
The Florida Supreme Court heard arguments last Tuesday in a challenge led by the Office of Public Counsel and the Florida Industrial Power Users Group that contended the Florida Public Service Commission (PSC) improperly approved Florida Power & Light’s (FPL) plan to invest in the Woodford Gas Reserves Project. The court focused on two key issues: 1) whether FPL is allowed to charge its customers for a deal that may or may not result in savings, and 2) whether the PSC was empowered to approve it. Justices asked questions to attoeys on both sides of the issue with Justice Charles Canady appearing skeptical of the challengers’ arguments. He said the challengers might think the plan is a bad idea, but that is a different issue than the authority of regulators. Justice Peggy Quince, in questioning PSC attoey Adria Harper, expressed conce about consumers paying for such a project “whether it tus out to be true or not that they get a benefit. She suggested that FPL could undertake the project and, if successful, then go to regulators for approval to recoup costs from customers. Raoul Cantero, a former Supreme Court justice who represented FPL, said the project is a form of price hedging, which utilities commonly use to stabilize costs for fuel. But Justice Ricky Polston indicated that he thinks a drilling project is different from more typical financial hedging. He also questioned whether it would be appropriate for the Legislature to decide whether such projects should be allowed. Supreme Court justices typically take months before ruling in these type cases.
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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