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.
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The regularly scheduled Board of Commissioners (BOC) meeting began at 1:00 p.m. on Monday, September 17, 2012 in the Littleton Water and Light Department (LWL) conference room. Present were Commissioner Ralph Ross, Commissioner Eddy Moore, Commissioner Perry Goodell, Financial Services Director Cheryl Wilkins and Superintendent Thomas Considine.
MINUTES REVIEW:
The minutes of September 4, 2012 regularly scheduled Commissioners meeting were reviewed. Commissioner Moore made a motion to accept the minutes as presented, seconded by Commissioner Goodell.
The vote was in favor of the motion 3-0-0.
SUPERINTENDENT/ MANAGERS REPORT:
1. Superintendent Considine stated that he and Mitch Greaves (Millworks) attended the Town of Littleton’s select board meeting on September 10th and discussed the traffic safety concerns at the intersection of Lafayette Avenue and Union Street. The select board voted unanimously to support the parking restrictions as suggested by LWL and Millworks pending State of NH approval.
2. The Dodd-Frank Regulation was discussed with the BOC. These regulations apply to wholesale power purchases that are classified as a “swap” and used to hedge or mitigate commercial risk on the spot market (NY Commodities Exchange) and a surcharge (energy adder) would be applied. The regulation are being enacted to prevent non-financial entities from “gaming” the market place, buying low and selling high prior to consumption by the end user. LWL appears to qualify for the End-User Exception, as long as the purchases are below a certain threshold (yet to be established) and the power is consumed by the end user under the contract without selling or swapping the products LWL should not have to pay the surcharge.
GENERAL BUSINESS:
1. Superintendent Considine reviewed his memorandum with the BOC between LWL and the NH Public Utilities (NHPUC) in regard to Constellation Energy lawsuit with the Federal Energy Regulatory Commission (FERC). Constellation Energy stipulated and agreed to pay a settlement of $110,000,000 for allegedly falsifying their market load data between September 2007 and December 2008. NH load service entities are expected to recoup $1,792,000 of the total disbursement agreed to. This is to compensate them for the increased expenses associate with an inflated pool load as reported by Constellation Energy. LWL is expected to recoup about $13,000 which represents our share of load during that period. Most of the eligible NH funds will be recouped by PSNH as they have about 75% of the load in NH.
2. Commissioner Moore asked if Absolute Extrusion Inc. has had any contact with the department since being disconnected.
Superintendent Considine stated that there has been no contact.
3. Commissioner Ross inquired about the lightning strike to the Railroad Street chlorinator and if the damages have been repaired and the insurance claim filed.
Superintendent Considine stated that the damages have been repairs and the insurance claim is in the process of being settled.
ADJOURNMENT:
Commissioner Goodell made a motion to adjourn the meeting, seconded by
Commissioner Moore.
The vote was in favor of the motion 3-0-0.
Meeting adjourned at 1:40 p.m.
The regularly scheduled Commissioner’s meeting is held twice monthly on the first and third Monday, at 1:00 p.m., in the Department’s conference room.