The Board meets on the first and third Monday of each month. Meetings begin at 1:00 p.m. and are held in the department conference room at 65 Lafayette Ave, Littleton. Board meetings are open to the public and time is allotted for public comments at each meeting.
The regularly scheduled business meeting of the Littleton Water and Light (LWL) Board of Commissioners (BOC) began at 1:00 p.m. on Monday, October 18, 2021 in the LWL conference room. Present were Commissioner Peter Cooper, Commissioner Ralph Ross, Director of Finance Lori Hogan and Superintendent Thomas Considine.
The minutes of the October 4, 2021 regularly scheduled Commissioners meeting were reviewed. Commissioner Ross made a motion to accept the minutes as presented, seconded by Commissioner Cooper.
The vote was in favor of the motion 2-0-0
Mr. David Camardese, a representative from Next Era Energy (via telephone) reviewed a wholesale power point presentation with the BOC regarding LWL power supply resources and position for CY2022-CY2024.
Note: In direct response to a dramatic increase in energy/natural gas prices (125%-200%) as compared to 2021 and recent market price fluctuation LWL is attempting to close gaps in its current wholesale power supply position portfolio. Next Era Energy was asked to provide a product(s) that would mitigate some of the potential market risk and the impact that these expected higher prices will have on the 2022 O&M budget.
Mr. Camardese detailed Next Eraís proposal that offered several load following energy alternatives and load shapes for the BOC to consider. Each alternative has a varying degree of risk to benefits and the associated cost impact on LWL wholesale power supply budget.
Following some additional discussion and prior to Mr. Camardese ending the telephone call the BOC stated that they would review the information provided then thanked Mr. Camardese and Next Era for providing the proposal.
Mr. Considine stated that although a load following type product protects LWL from the high spikes in the market by locking in a set/firm price it also limits LWL from lower potentially adjusting rates when the market trend downward. LWL would be giving up control to some extent during this period.
Following some additional discussion, the BOC agreed to solicit and opinion from Daymark Energy as market prices appear to be trending downward currently. This may present an opportunity to compare both the Next Era product against our current hedge practice and pick a product that has the least impact on the budget.
DIRECTOR of FINANCE and HUMAN RESOURCES REPORT:
Mrs. Hogan reviewed the highlights of the financial statements for the month ended August 2021 with the Commissioners. Several variances as compared to budget were discussed and explained by Mrs. Hogan.
SUPERINTENDENT/ GENERAL MANAGERS REPORT:
1. The NH Public Utilities Commission recently distributed the proceeds from the fifty-third (53) Regional Greenhouse Gas Initiative (RGGI) Cap and Trade auction to LWL for disbursement in the amount of about $41,259. Eligible LWL electric customers will receive a rebate (credit) in the amount of about $7.6/1,000 kWh applied to their November 2021 LWL statement.
2. Notchnet recently finished filming a story featuring fire hydrant maintenance and replacement and the reason why hydrant flushing is done annually. A follow up story will be forthcoming regarding the recent West Main Street voltage conversion in addition to a story about LWL community service.
3. ChargePoint Electric Vehicle recently contacted LWL about potential locations in Littleton to install a Level 3 charging station for electric car/vehicle charging. A level 3 charging station is a DC fast charge/supercharging that will require a power supply capable of provide 480Y/277 and the needed capacity.
4. The 2022 operating and maintenance budget figures are being developed and a rough draft of the 2022 O&M budget will be presented for review at the November 1, 2021 BOC meeting. The highlights will be presented though a more detail in-depth line by line analysis/discussion is planned for the November 15, 2021 once the BOC has had time to review the complete document.
There being no further business to come before the board Commissioner Ross made a motion to adjourn the meeting, seconded by Commissioner Cooper.
The vote was in favor of the motion 2-0-0.
Meeting adjourned at 2:15 p.m.
The regularly scheduled Commissionerís meeting is held twice monthly on the first and third Monday, at 1:00 p.m., in the Departmentís conference room.