Lucas Zlock

The regular meeting covered several key reports and actions. The Human Resources Report provided updates on litigation, training, development, a recent promotion, and a long-term retirement. The Engineering Report included new service numbers, information on a new development named Cedarcrest, and a capital credit retirement from Ermco. The Operations Report detailed circuit outage events, system reliability, and a building update. The Technology Report highlighted ongoing projects, including an example using meter density and participation in the NISC Pathways Content Creator Beta Program. Key decisions included the approval of changes to Tariff Leaf #94 regarding the Residential Controllable Thermostat Rider Schedule R-CT. Information was shared regarding an upcoming Special Board meeting on February 18 concerning a PCA increase. The Board also approved a resolution amending the Cooperative's bylaws related to director qualification and elective office. The meeting concluded with executive sessions to discuss strategic planning, ODEC performance, legislative updates, and matters related to personnel and employee compensation.

This document outlines Delaware Electric Cooperative's achievements in 2020, including distribution system upgrades, the activation of a new solar farm, reduced electric rates, and capital returned to members. For 2021, the cooperative commits to intensified efforts in delivering clean, reliable, and affordable power to its members.

The Board of Directors meeting addressed several key areas. In policy review, changes to Board Policy 400.8 were approved following an executive session discussion. Financially, the Board approved the 2026 CAPEX plan as recommended by the Operations Committee and the 2026 revenue and expense budget as recommended by the Finance Committee. Financial performance summaries for November 2025 were also reviewed. Engineering updates covered material bids and progress on the Reynolds Road and Jones substations. Operations reported on two circuit outage events. In technology, the achievement of NRECA's cybersecurity goals was noted, resulting in a premium reduction. Regarding Member Services, the Board approved the use of $500,000 from 2026 escheat funds for the Bruce A. Henry battery storage project. Reports from ODEC and NRECA regarding performance, budget, and dues were also presented.

The Board of Directors meeting agenda included several key reports and discussions. The Financial Report reviewed performance for month-ending October 2025 and year-to-date figures, including building renovation costs. The Engineering Report provided updates on the new Reynolds Road and Kratz substations. The Operations Report detailed four circuit outage events in October, system reliability, and a building update. The Technology Report covered a cybersecurity update and upcoming changes to BoardEffect scheduled for January 2026. The Member Services Report discussed current communications regarding capital credits, Girl Power, and BTP savings, with future topics focusing on holiday energy savings and safety. The CEO Report mentioned a cost-of-service study and participation in ODEC's Audit Committee. Legislative updates were also shared.

The meeting was convened to consider an increase to the power cost adjustment (PCA). The proposal would increase revenue for the cooperative by approximately nine million dollars per year, resulting in an $8 increase for the average residential member using 1,000 kilowatt hours. The adjustment is necessary due to significant increases in natural gas and wholesale power prices. The board approved the increase to the power cost adjustment from 1.3 cents to 2.3 cents per kilowatt hour, effective with meter readings on and after March 1, 2022.