Loup River Public Power District

Key discussion topics during the board meeting focused on several operational and capital improvement areas. Significant time was dedicated to evaluating canal bridges, particularly the 400th Avenue Bridge, which requires replacement with modern concrete designs due to age and increased load requirements, necessitating exploration of funding options estimated between $1.2 and $1.3 million. The board addressed pole attachment rates, implementing a new rate of $16.48 per attachment per year based on an FCC calculation study, a substantial increase from the previous $8 flat rate, while noting this is slightly above the industry median compared to peer power companies. The 2024 Operating Ratio Study results indicated strong performance, showing the company is competitive in revenue per kilowatt hour and cost per goods sold, operating in the lowest quartile compared to similar-sized entities. Furthermore, the 2025 Safety Review highlighted that the year concluded very well with zero lost time injuries for the first time in over five years, although nine minor personal injuries represented an area of concern needing improvement toward a five-injury trend. Finally, the 2025 financial review showed revenue slightly exceeding 2024 results, indicating a positive trend moving into 2026, attributed to generation volume and customer growth.

The Board of Directors meeting addressed several key administrative and operational items. The Board excused the absence of one Director and approved the minutes from the December 2025 meeting. Key discussions included forming a Board Retreat Committee, updates on the non-capacity license amendment filed with FERC, progress on facility repairs related to the 2019 storm event, and feasibility studies regarding the dredging of Lake Babcock due to sedimentation. Hydroelectric generation for 2025 was reported as above average (155,146 MWh). Significant action was taken by the Rates Committee to increase the canal water use rate from $10.00 to $10.75 per acre foot for 2026, and to increase the water heater price for new installations from $5.50 to $7.00 per month. The Personnel, Safety, and Insurance Committee adopted a resolution regarding an employee retirement. The Legislative Update from the 2026 Nebraska Unicameral session was reviewed, focusing on bills related to the electric utility industry. The Board also approved a work order letter and discussed the potential sale of the old Service Center building.

The board meeting included discussions and updates on several critical items. Key topics included the status of the FK license non-capacity license amendment, noting that the environmental assessment was approved and the district awaits final approval from FK. The board also discussed the Lake Babcock dredging and sedimentation project, confirming the feasibility study results were favorable and that engineering designs are underway, supported by an additional state grant. Hydroelectric generation for 2025 was reviewed, showing generation exceeded the average by 11.9%. The performance of the Crestston Ridge wind farms (CR1 and CR2) was reviewed, achieving capacity factors of 50.1% and 48.5%, respectively, which helped reduce demand charges. Rate adjustments were considered for canal water use irrigation, resulting in a proposal to increase the rate from $10 to $10.75 per acre foot (a 7.5% increase) due to increased maintenance and power costs. Furthermore, the cost for water heater rentals was reviewed, leading to a proposed increase to $6.99 to cover doubled equipment costs and higher installation fees. Finally, payroll and retirements were addressed, including the passing of a resolution to honor Jim Hogi for his 44 years of service upon his retirement.

The agenda items for discussion included a preliminary roll call and review of the Open Meetings Law. Key topics included a bridge discussion with the Platte County Highway Department, potentially leading to an executive session on canal bridges. Financial discussions covered 2024 utility operating ratios, setting a date for the 2025 audit review, and possible action regarding a new streetlight rate and a pole attachment rate. Personnel matters included reviewing payroll changes, a resolution for James Reeg's retirement, and the 2025 Annual Safety Report. Support Services items involved a legislative update and reviewing payments made to communities and community clubs. The meeting also included reports from Vice Presidents and discussion regarding a work order letter.

The Board of Directors meeting covered several administrative and operational topics. Key actions included the approval of the November 2025 operational and financial reports, and the appointment of Walt Williams as Deputy Treasurer and Angell Robak as Assistant Secretary for 2026. The Board approved the 2026 Board committees. Discussions involved updates on the non-capacity license amendment filing with FERC, including the Environmental Assessment process, and proposals to permanently close the Headworks OHV area. The District's stance on the Eighth Circuit Court of Appeals filing was reviewed, alongside updates on facility repairs related to the March 2019 storm event with NEMA. A significant action was the execution of a new NPPD Hydro Purchase Power Contract following executive session discussions, and the adoption of a resolution appointing Korey Hobza as the District's representative to NPPD's Customer Committee under the new contract. Furthermore, the Board approved the proposed LWS-1 and LWD-1 wholesale rates effective after January 1, 2026, and approved the recommended 2026 retail rates, which include an approximate 7.3 percent base increase. The Board also approved the 2026 Holiday Schedule, contingent upon the District having no lost-time accidents in 2025, and adopted a resolution regarding the retirement of President/CEO Neal Suess. Approvals were also granted for the investment letter and the work order letter.