Maquoketa Valley Electric Cooperative

The MVEC Board approved the proposed 2024 budget, which includes a rate increase to be implemented in Spring 2024, to offset rising costs of materials, equipment, and labor. They reviewed projected year-end financials, discussed contacts with members by MVEC's Member Advocate, approved a donation to the Iowa Association of Electric Cooperative's 2024 International Project, discussed items of interest for the 2024 Iowa Legislative session, appointed Scott Minzenmeyer to fill the Region 1 Director vacancy, and approved 2024 Board Meeting dates.

The May MVEC Board meeting included discussions on the Safety Leadership Summit, pre-approval for purchasing substation power transformers for the 2025 Capital Budget, an update on the Cooperative's application for the Iowa Grid Resilience Grant program, approval of an adjustment to Rate 18 for large power users, and approval of a new member agreement with Federated Insurance.

The board discussed the 2021 financial audit, staffing updates, legislative bills of interest, and topics covered at industry conferences. They also reviewed the MVLink fiber smart grid project and approved construction contracts for fiber mainline and drop construction. Initial planning efforts and the timeline for the 2022 MVEC Annual Meeting were also discussed. Additionally, the board reviewed the Cooperative's Long Range Financial forecast, the 2021 Reliability Report, and the 2022 Reliability Plan. A service territory adjustment with Alliant in the Manchester area was approved, along with the addition of a new staff member in the IT Department. The Nominating Committee for the 2022 Director Election was also appointed.

The Annual Meeting included reports such as the approval of the 2019 Annual Meeting minutes and the Treasurer's Report. The nominating committee presented nominations for director positions in Regions 1, 2, and 3 At-Large, followed by the announcement of the re-election of Gene Manternach, Charlie Peters, and Judy Gotto to the board. The Directors then held their re-organizational meeting, electing Ron Thielen as President, Tom Stewart as Vice President, Gene Manternach as Secretary, Charles McCullough as Assistant Secretary, and Judy Gotto as Treasurer.

The meeting covered topics such as MVLink fiber updates, including the number of connected members and the doubling of internet speeds during the COVID-19 lockdown. It also discussed the redundancy rings being implemented for the network. The meeting addressed understanding energy bills, including on-peak and off-peak hours, power cost adjustments, and basic service charges. Also discussed were tips for reducing dehumidifier costs, such as choosing the right size, improving air circulation, and opting for energy-efficient models.