North Attleborough Electric

Key discussion items for the meeting include the kick-off of the Rate Study (Cost of Service) with Mayhew Seavey of PLM, covering the study process and Board guidance concerning NAED's Financial Assets. Year-end activities review indicates 2025 results are projected to be over budget, resulting in high energy costs due to extreme cold, making a PCA and Revenue Credit unlikely for 2025. General Manager updates covered the start of IBEW Unit A & B contract negotiations, renewed interest in a Battery Storage shared savings arrangement, performance metrics for the Behind The Meter Generator (avoided costs of approximately $2.45M), and updates on the AMI Project, including the live Customer Portal and the upcoming release of the Customer Facing Outage Map. Additionally, the start date for a new 3rd Class Apprentice Lineman was noted, and the submission of NAED's section of the Town Annual Report was confirmed. The agenda concluded with a request to enter Executive Session for the General Manager's Annual performance review.

This document outlines the Board of Commissioners' priorities, emphasizing community-based decision-making for the benefit of North Attleborough residents. It focuses on providing reliable, competitively priced electricity, implementing energy conservation programs, and delivering electric safety education to enhance the quality of life for customers.

Key discussions for this meeting include an overview of the NAED 2026 Power Supply Budget presented by Energy New England, covering fixed cost supply, capacity, transmission, and projected energy market conditions for 2026. The agenda also covers wrap-up and finalization of the FY2026 Capital Investment Plan (CIP) and Budget Presentations, including the initial calculation for PILOT and projections for the 2026 Opportunity Fund Earnings that go to the Town. General Manager updates address the AMI Project, specifically the launch of the Silverblaze customer portal and the upcoming launch of the Customer Facing Outage Map. Updates also cover the Cost of Service Study timeline and general operational updates, such as the recent delivery of a Bucket Truck.

The meeting addressed surplus declarations for operations division, including trailers and a vehicle, as well as a non-repairable distribution transformer. There was a discussion regarding the PILOT policy, involving the Town Manager, Town Treasurer, and possibly the Town Council president, to discuss the amount of investment earnings gained by the Town from the Opportunity Fund versus a PILOT payment. The board also discussed the Opportunity Fund and supporting information, NAED Financial Assets & Liabilities Workshop #4 discussion. Updates were provided on AMI installation, 115kV Breaker Replacement Project, and the conference room display. The board also discussed PCA (Power Cost Adjustment) information and OPEB report.

The Board discussed a power cost adjustment (PCA) and revenue credit, including options for issuing a credit to current customers due to surplus power revenue and excess operating revenue for FY2024. They also reviewed the department's rate of return on investment (ROI), which is estimated at 3.64% for FY2024 before PILOT to Town. Further discussions included instituting a policy on the PILOT payment compared to the interest generated from the Opportunity Fund, and the need to involve town officials in the discussion. Updates were provided on the AMI project, which is substantially complete, and the FCC license and radios, including the completion of the fire tower at WW1 park and the addition of a second location off High Street.