Joseph Michalewicz

The board approved the agenda with an amendment to include a Member and Community Relations Committee report on a donation request prior to the Policy Committee report. Staff reported on the Shoshone Water Rights Contribution, authorizing the pursuit of a three-party agreement with the Colorado River District and the Western Colorado Community Foundation for the donation. Engineering updates covered transformer maintenance at the Highline Substation and the impact of a large transmission outage on the SAIDI score. Accounting reported on receiving retirement funds and noted that kilowatt-hour sales were down in October. Information Technology announced the adoption of the new web-based Call to Order system and plans to adopt NISC's AI Assistant. Member Services shared a draft of the 2026 Board Calendar and a redesigned billing statement. Finance discussed system demand spikes and noted that patronage capital retirement checks were mailed. The CEO report covered legislative updates regarding clean energy initiatives, RTO requirements, and a wildfire mitigation bill, as well as preparations for the CEO transition. The board approved the 2026 Budget and Work Plan. A $5,000 donation was approved for a former employee's family following a tragedy. Policy updates included the approval of the Director Code of Conduct Policy and the Director Conflict of Interest Policy, with consideration of a Delegation of Authority policy deferred to January 2026. Resolutions were approved to update authorized signatories for various financial and governmental entities.

The board discussed the 2026 budget, including projected margins, and reviewed the timeline for budget review. They also discussed Xcel's rate increases for 2026 and the projected growth of GS-TOU/D members. The board approved a member capital retirement of $1,095,727.81, representing 3.11% of the total outstanding unretired member capital. Updates were provided on the proposed Robin Alerts bill and DMEA's planned rate increase. The board also discussed a code of conduct policy, director compensation, and the CEO search, confirming Chrystal Dean as the next CEO effective January 2, 2026. Reports were given on CREA and Western United Electric Supply activities.

The board meeting included staff reports on energy services, member services and communication, engineering, information technology, and finance. Discussions covered the Pat Kanda Memorial Golf Tournament, distributed generation, customer satisfaction awards, rate change notifications, construction work plans, monthly financials, and grant updates. The CEO provided a legislative update and reviewed the Key Ratio Trend Analysis. The board also reviewed director compensation, compensation and benefits, and the Financial & Equity Management Policy. Approvals were granted for the Construction Work Plan. An executive session was held to discuss rates, personnel matters, power supply, and a legal report. The board reviewed a rate proposal from FERC counsel, a draft code of conduct policy, director conference requests, and reports from CREA and Western United Electric Supply.

The Grand Valley Power Annual Meeting addressed key developments including the decision to move to Guzman Energy as the new wholesale power provider, aiming to manage and stabilize wholesale power costs. They are exercising an option to reduce power purchases from Excel Energy by 100% in five years, transitioning to Guzman Energy in 2028 with fixed wholesale power rates until 2043. The meeting also highlighted safety achievements, environmental stewardship through renewable resources, and the implementation of time-of-use rates for equitable cost recovery. The emphasis was placed on members signing up for Smart Hub to save money and enhance services, alongside community contributions through safety events, scholarships, and youth programs.

The meeting included presentations on Xcel Energy's power supply proposal, followed by an executive session to discuss power supply RFP matters. Staff reports covered member services, distributed generation annual reconciliation, renewable energy standards, new net-metering interconnections, and a preferred solar installer program. Communications, information technology, and operations updates were provided, including the employee summer picnic, cybersecurity initiatives, and utility contractor projects. New and revised rates for Commercial, Large Load, and Industrial Consumers were presented, leading to resolutions amending current tariffs and establishing an Industrial Service -- Load Dependent Tariff. The meeting also covered the Distribution Wheeling Agreement from PSCo for the Ute Water Hydro generation, monthly financials, and the cooperative's 2022 Form 990. The board authorized the allocation of patronage capital to GVP members for 2022. The CEO reported on legislative matters, Rural Utilities Service funding, and a plan to address workplace and safety culture issues. The engagement of an audit firm was approved, and reports were given on the Colorado Rural Electric Association and Western United Electric Supply.