FMPA Weekly
A weekly e-newsletter for FMPA members
Dec. 15. 2014
LAST WEEK
Green Cove Springs Submits CROD Notice
Green Cove Springs notified FMPA last week of the city’s decision to limit the maximum amount of electricity it will purchase from the All-Requirements Project effective Jan. 1, 2020, and continuing for the remaining term of its contract. The notice is in compliance with section three of the All-Requirements contract called Contract Rate of Delivery (CROD). The CROD amount will be determined in December 2019. The All-Requirements members created this contract provision to provide options for individual cities while protecting the interests of other project members and bondholders. Contact: Nick Guarriello
Audit and Risk Oversight Committee
FMPA’s Audit and Risk Oversight Committee met last Thursday and discussed information items, including: 1) 2014 generation performance report, 2) fiscal 2014 transmission billing audit, 3) fuels market update, 4) risk management policy review, 5) Quincy Power Purchase Agreement contract compliance, and 6) Public Gas Partners update. 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 St. Lucie Capacity and Energy Exchange Agreement with Fort Meade, and 2) the FMPA/Fort Meade Contract Rate of Delivery Agreement. 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: 1) 2015 meeting schedule, 2) election of Lynne Tejeda from Key West to the vacant Vice Chair position, 3) Fort Meade Contract Rate of Delivery adjustment, 4) FMPA/Fort Meade Contract Rate of Delivery Responsibility Agreement, 5) St. Lucie Capacity and Energy Exchange Agreement with Fort Meade, 6) a new Contract Rate of Delivery rate schedule, 7) Federal Energy Regulatory Commission Order 1000 enrollment, and 8) Florida Reliability Coordinating Council Coordinated Functional Registration for Planning Authority Agreement. Regarding an information item about a bank credit facility for initial funding of Taylor swap terminations, the Executive Committee decided to approve a motion authorizing staff to move forward with development of the Credit Facility Agreement. The full agenda package is available on the Member Portal. Contact: Nick Guarriello
THIS WEEK
Cane Island Power Park
Cane Island Unit 3 came back online on Sunday after completing a scheduled maintenance outage. Contact: David Schumann
Member City Visits
Bud Boudreaux travels to Leesburg on Wednesday for a member city visit with City Manager Al Minner, Electric Director Patrick Foster and Finance Director Bill Spinelli. Fred Bryant plans to participate via conference call.
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. 14. 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 also will be closed Dec. 31 and Jan. 1 in observance of the New Year’s holiday.
Policy Makers Liaisons Committee
The next meeting of FMPA’s Policy Makers Liaisons Committee (PMLC) has been changed from Jan. 14, 2015, to Jan. 21, 2015. The change was made last week following the Executive Committee’s approval of its 2015 meeting schedule. The new date on Jan. 21 will be the day before the Executive Committee meeting in January. The PMLC meeting will begin at 1 p.m. in FMPA’s Orlando office, and lunch will be served at noon. Contact: Mark McCain
INDUSTRY NEWS
NextEra to Acquire Hawaiian Electric
NextEra Energy Inc., parent company of Florida Power & Light, announced last week that it has reached an agreement to buy Hawaiian Electric Industries Inc. The deal is valued at $2.6 billion, or $4.3 billion including the assumption of Hawaiian Electric’s debt. Hawaiian Electric supplies power to 95% of Hawaii’s population. Hawaiian Electric will keep its name and remain based in Honolulu, and no workforce reductions are expected for at least two years after the deal closes. The Christian Science Monitor wrote of the proposed merger, “Geographically speaking, NextEra Energy’s bid for Hawaiian Electric is the most far-flung merger in the history of American utilities. A commercial flight between the two headquarters spans five time zones, nearly 5,000 miles, and requires a stopover. Analysts are giving mixed reviews to the proposed deal and noting that the purchase would give NextEra experience dealing with distributed renewable energy, which is increasingly prevalent in Hawaii. The transaction is subject to approval by the Federal Energy Regulatory Commission and other regulators and is expected to close within a year.
FERC to Hold Technical Conferences on EPA’s Clean Power Plan
The Federal Energy Regulatory Commission (FERC) said last Tuesday that it will hold technical conferences “to discuss implications of compliance approaches to the U.S. Environmental Protection Agency’s (EPA) proposed plan for curbing emissions from existing power plants, known as the Clean Power Plan. “In particular, the technical conferences will focus on issues related to electric reliability, wholesale electric markets and operations, and energy infrastructure, FERC said in the notice. FERC will hold a national overview technical conference Feb. 19, 2015, in Washington, D.C., and three regional conferences on dates to be announced in Washington, D.C., St. Louis, Mo., and Denver, Colo.
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 Christin Senior 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 Christin Senior
Florida Municipal Power Agency
8553 Commodity Circle
Orlando, FL 32819-9002
Tel 407 355-7767
Fax 407 355-5794
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