Tim Blodgett

The board discussed several key topics including an average wholesale rate increase for 2027 and associated tariff schedule charges. The meeting also included a recap of the 2026 Colorado legislative session, an update on Southwest Power Pool RTO market performance, a fuels and water status report regarding Craig Station and Chimney Hollow Reservoir, and preparations for the 2026 Strategic Plan work session. Financial and operational results for the year-to-date were also reviewed.

The board meeting agenda included an executive session for legal advice regarding confidential matters, a discussion on the 2027 wholesale rate increase and tariff schedule charges, a legislative session recap, a power markets update following the integration into the Southwest Power Pool Regional Transmission Organization, and a fuels and water activity update. The board also previewed the strategic planning update, discussed a proposal to issue a request for proposals for an external financial auditor, and addressed the appointment of a new member to the Defined Benefit Plan committee.

The meeting included an executive session to confer with attorneys on legal matters. Board action items consisted of an appointment to the Defined Benefit Plan committee. Management presented on the 2027 wholesale rate increase and tariff schedules, a legislative session recap, power market updates regarding the SPP RTO, and updates on fuels and water, along with a strategic planning preview. Additionally, a request for proposals for an external financial auditor was reviewed, followed by operational and financial health reports.

The board meeting covered several key items, including the 2025 financial audit report from Forvis Mazars, acceptance of the 2025 annual report, and a resolution for debt financing regarding Series LL bonds. Management presentations provided updates on air permits, DER integration, a preview of the Weld Energy Storage project, and preparations for upcoming strategic planning work sessions. Additionally, the board reviewed monthly informational reports covering operational health, financial health, and the Q1 organizational report.

The board reviewed the Defined Benefit Plan retirement committee report, which detailed investment performance, asset increases, and revised investment policy statements. A presentation was provided regarding the implementation and milestones for the Southwest Power Pool Regional Transmission Organization market entry. Additionally, the communications team provided an overview of energy transition strategies and future public education campaigns. Operational and financial health reports were reviewed, highlighting generation supply, renewable resource output, and year-to-date budget performance, alongside a report on damage to a solar facility. The board also convened an executive session for legal consultation regarding regulatory proceedings and to conduct the annual performance review of the general manager.