FMPA Weekly
A weekly e-newsletter for FMPA members
Nov. 16, 2015
LAST WEEK
ARP Executive Committee
The ARP Executive Committee met last Monday via conference call and agreed to terminate oil hedges held for FMPA in Public Gas Partners. Following the approval, a timely drop in the market resulted in a termination value to FMPA of $5.4 million, which is better than originally estimated. This coming Thursday, the Committee will discuss use of the proceeds. Contact: Nick Guarriello or Mark Larson
Senator Simpson Files Bill Targeting FMPA
Florida Senator Wilton Simpson (R-New Port Richey) filed a bill last Friday for the 2016 regular Florida Legislative Session that is identical to the House bill filed by Rep. Debbie Mayfield (R-Vero Beach) that targets FMPA for additional regulation. If passed, Senate Bill 840 and http://www.myfloridahouse.gov/Sections/Documents/loaddoc.aspx?FileName=_h0579__.docx&DocumentType=Bill&BillNumber=0579&Session=2016>
RFP for Line of Credit
FMPA issued a request for proposals (RFP) last Monday for a line of credit and one or more letters of credit. The credit facilities are for the All-Requirements Project (ARP). Currently, ARP has two providers of a line of credit in a total amount of $100 million. The current letters of credit are both with one provider that is also one of the line of credit providers. Banks may propose a line of credit either individually or as part of a syndicate for a minimum principal amount of $25 million. FMPA plans to stagger the end dates for its line of credit and letters of credit, though they would all become effective on the same date in replacement of FMPA’s current lines and letters of credit. Proposals are due by Nov. 30. Contact: Mark Larson
THIS WEEK
Treasure Coast Energy Center
Treasure Coast Energy Center Unit 1 came back online Monday moing after completing a scheduled maintenance outage. The unit was originally scheduled to come back online Nov. 22. Contact: David Schumann
Joint Action Solar PV Project
FMPA’s System Planning Department meets this week with the Newberry City Commission, Keys Energy Services Utility Board and the Fort Pierce Utilities Authority Board to discuss a joint action solar photovoltaic project. Many municipals are looking at options for incorporating solar into their generation resource mix, and a joint project would enhance economies of scale. FMPA reached out to Florida’s municipal electric utilities to explore potential interest. FMPA is aiming for an initial, non-binding expression of interest by Dec. 1. FMPA’s Planning Department can provide more information to help present this opportunity to a utility’s goveing board. Contact: Michele Jackson
Board of Directors
FMPA’s Board of Directors meets Thursday at 9:30 a.m. in the Board room to discuss the approval of municipal financial disclosure policy and procedures. The Board will also discuss information items, including: 1) status of the St. Lucie Project interest rate swaps, and 2) procedure to fill the pending General Manager and CEO vacancy. 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 a.m. or immediately following the Board of Directors. The Committee will discuss: 1) approval of municipal finance disclosure policy and procedures, and 2) decision on use of proceeds from termination of oil hedges held for FMPA in Public Gas Partners. One of the information items is to review the initial draft of Baker Tilly’s report on the Auditor General’s findings related to fuel hedging and the All-Requirements Project termination provisions. 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 Nov. 15. Contact: Jim Atz
COMING UP
Management Development Program
FMPA will host a new Management Development Program beginning Jan. 12, 2016, at FMPA’s Orlando office. The program will be led by Jacque Booker, the same instructor who leads the popular Excellence as a Supervisor series. This new program is designed for new managers, mid-level managers and departments in need of succession planning. The classes could be a great next step for those who completed the Excellence as a Supervisor course. The Management Development Program includes a total of six, two-day modules. The modules are divided into two series with three modules in each series. Participants can register for Series I, Series II or both. The first module of series one is scheduled for Jan. 12 and Jan. 13 and will discuss: 1) developing self-awareness, 2) managing personal stress, and 3) oral and written presentations. Module two is scheduled for Feb. 16 and Feb. 17 and will discuss: 1) solving problems analytically and creatively, and 2) building relationships through supportive communication. Module three is scheduled for March 15 and March 16 and will discuss: 1) gaining power and influence, and 2) motivating others. The cost is $1,100 per series. http://fmpa.com/event/management-development-program-series-i/>
APPA’s Winter Education Institute
FMPA and the Florida Municipal Electric Association are co-hosting the American Public Power Association’s http://www.publicpower.org/Events/Landing.cfm?ItemNumber=32858&navItemNumber=38913>
INDUSTRY NEWS
PSC Approves Duke Energy Rate Decrease
The Florida Public Service Commission approved a request by Duke Energy Florida for a rate reduction in 2016. Beginning in January, the monthly bill of a typical Duke residential customer using 1,000 kWh per month will decrease $4.18 to $117.41. Businesses will also see a decrease in power bills next year, depending on the customer’s rate class and type of service. Duke said the decrease is due to lower fuel costs.
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
http://www.fmpa.com>www.fmpa.com
Community Power. Statewide Strength. ®