La Plata Electric Association (LPEA)

This Division Dashboard provides a monthly overview of LPEA's performance and progress towards its strategic goals and targets. The primary focus areas include ensuring safety and excellence, maintaining reliable power supply, sourcing clean and cost-effective energy, fostering strong community partnerships, maintaining robust financial health, and proactively preparing for future challenges and growth. The report details specific achievements and ongoing initiatives aimed at operational efficiency, grid resilience, energy transition, member satisfaction, and financial sustainability.

This document serves as a Board of Directors Dashboard Report for La Plata Electric Association, Inc., outlining its strategic direction and performance. The organization's strategic goal is to provide safe, reliable, and affordable electricity while being environmentally responsible, with a mission to achieve competitive electric service costs and an over 80% carbon emission reduction from 2005 levels by 2030. Key strategic pillars, reported through Key Performance Indicators, include delivering safety, reliability, and excellence; energizing tomorrow through diverse and independent power sources; empowering the community; and creating member value. The ultimate vision is to be member-powered, future-focused, and a national leader, achieving power supply independence by 2026.

La Plata Electric Association is implementing a strategic shift towards a new and sustainable energy future. The plan focuses on transitioning to clean energy, gaining greater local control over power supply, and fostering community partnerships, such as integrating solar initiatives with local agriculture. Key outcomes include reducing carbon footprints, lowering energy costs, boosting local economic benefits and job creation, and enhancing the resilience of the electric grid through a commitment to diverse and innovative solutions.

The regular monthly meeting commenced with the approval of the amended agenda, which involved removing Section II from the Finance and Audit Committee update. During the consent agenda, the February Board of Directors Minutes, February Special Board of Directors Minutes, Accepting New Members, Capital Credits to Estates, Monthly Write-offs, and Director Travel and Training Requests were approved. CEO and staff reports included a review of the monthly board dashboard and February financials, noting a positive operating margin of $210,099 but cash reserves being approximately $9M under target due to capital project disbursements and material costs. The Committee on Policies updated the board on the review of Policy 101 (Policy Formulation and Approval) and the initial discussion on Policy 102 (Functions of the Board of Directors). The Finance and Audit Committee recommended and the board unanimously approved Resolution 2025-04 concerning Final Patronage Capital Credit under a specific Tri-State Rate Schedule. The board unanimously approved the final 2025 Rate Tariff after a proposed amendment failed. Proposed bylaw amendments were referred to the Committee on Policies for recommendation for the 2026 Annual Meeting, and a motion to postpone consideration to the next meeting carried. An update on FERC actions, including the sleeving case, the formula rate case, and the contract termination payment appeal, was provided. Following an executive session covering FERC actions, power supply progress, RFP review, Mercuria Confirm review, employee benefits financial performance, and Policy 108 requests, the board approved Resolution 2025-05 for Mercuria Signing Authority and approved items requested by members under Policy 108.

The meeting commenced with the approval of the agenda, following a request to reorder an item regarding member comments on partial requirements. Key discussions involved correspondence from members concerning the status of the Code of Ethics Policy and the Colorado Public Utilities Commission (PUC) ruling on the exit fee case with Tri-State, where the dismissal of the PUC case was framed as potentially speeding up the process to state district court. The status of the United Power lawsuit against Tri-State was also discussed, noting that updates would be provided in an executive session. Significant time was dedicated to member comments regarding pursuing local generation options for greenhouse gas reduction and economic benefits, and continued partnership in the CARE program for energy efficiency. The board also reviewed CEO and staff reports, where process improvements for board meetings, including utilizing appended information and time stamps on the agenda, were highlighted.