* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.
          OKAY. 
          [00:00:01]
I THINK THAT'S EVERYBODY, UH, THAT IS EXPECTED TO BE HERE TONIGHT. 
          SO 
          [CALL MEETING TO ORDER ]
I WILL COME OF THE ELECTRIC UTILITY COMMISSION. 
          IT'S MAY 9TH, 2022 AT 6:00 PM IN THE SHUDI FATH CONFERENCE ROOM AT THE AUSTIN ENERGY HEADQUARTERS, AND ALSO APPEARING VIRTUALLY, UH, IN ATTENDANCE. 
          WE HAVE COMMISSIONER YONKER, COMMISSIONER TRUSSELL, COMMISSIONER HOPKINS, COMMISSIONER REED, COMMISSIONER CHAPMAN, AND COMMISSIONER TUTTLE AND COMMISSIONER BOWEN, UM, VIRTUALLY, UH, LET'S SEE, DO WE 
          [PUBLIC COMMUNICATION: GENERAL ]
HAVE ANY PUBLIC COMMENT OR COMMUNICATION? WE HAVE ONE SPEAKER, UH, DALE BEULAH. 
          MR. BULOW WELCOME. 
          OKAY. 
          DOES THIS ALL SOUND OKAY? OKAY, GREAT. 
          YOU HAVE THREE MINUTES. 
          SORRY. 
          YOU HAVE THREE MINUTES ON MY MARKETS THAT GO. 
          OKAY. 
          UH, GOOD EVENING COMMISSIONERS. 
          MY NAME'S DALE BEULAH, AND IT'S GOOD TO SEE MOST OF YOU IN PERSON. 
          UH, I'D LIKE TO SHARE MY THOUGHTS WITH YOU TONIGHT ABOUT MY CONCERNS RELATED TO HOW QUICKLY WE ARE MOVING TO REDUCE OUR EMISSIONS. 
          IT SEEMS THAT TIME IS RUNNING OUT FOR US TO TRANSITION TO ZERO CARBON. 
          AND I THINK WE CAN DO MORE THAN WE ARE AT THE PRESENT, SUCH AS SOLAR ROOFTOPS ON ACRES AND ACRES AND ACRES OF WAREHOUSES, CRESS LINES ARE BECOMING MORE CONGESTED AND LOCAL GENERATION SEEMS LIKE A NO BRAINER TO ME NEXT, UH, ELECTRIC SCHOOL BUSES USING BUSES AS BATTERY STORAGE UNITS IN THE SUMMER DURING PEAK LOADS. 
          TO ME, THAT SEEMS LIKE A LOGICAL THINGS TO DO. 
          WE COULD BE HELPING THE SCHOOL DISTRICT AS WELL AS HELPING, UH, THE REST OF THE CITY BY USING THESE BUSES THAT SIT IDLE FOR THREE MONTHS IN THE SUMMER AND USE THE ELECTRICITY, THE STORED IN THEIR BATTERIES. 
          UH, NEXT, UH, I'M CONCERNED ABOUT PLACING ORDERS FOR MORE ELECTRIC TRUCKS. 
          THE LAST TIME I MET WITH FLEET MANAGEMENT PEOPLE, THEY SAID THEY WERE CONSIDERING IT, BUT I THINK WE NEED TO DO MORE THAN JUST CONSIDER. 
          WE NEED TO START PLACING ORDERS BECAUSE THOSE TRUCKS, UH, SOME OF THEM ARE ALREADY GETTING READY TO ROLL OUT CHARGING INFRASTRUCTURE. 
          UH, I TALKED TO NEW EVIE OWNERS ALL THE TIME THAT HAVE NEVER HEARD OF THE AUSTIN ENERGY POINT CARDS. 
          UM, AND AS FAR AS INFRASTRUCTURE, WE HAVE LOTS OF, UH, PLUG-IN STATIONS THAT JUST ARE NOT WORKING OR NOT WORKING PROPERLY. 
          I JUST, TONIGHT, WHEN I TRIED TO PLUG IN DOWN HERE, I HAD TO GO TO SEVERAL DIFFERENT STATIONS BEFORE ONE WOULD RECOGNIZE, UM, MY LOGIN, UH, THE NIGHTLY, THE NIGHTLY NEWS REPORTS, DRIVERS COMPLAINING ABOUT HIGH GAS PRICES, BUT YOU NEVER HEAR AN INTERVIEW FROM ELECTRIC VEHICLE DRIVER. 
          AND THERE ARE THOUSANDS OF THEM. 
          I THINK OVER 10,000, THE LAST I CHECKED 10,000 ELECTRIC VEHICLE DRIVERS JUST IN AUSTIN. 
          I'D LIKE TO KNOW WHAT AUSTIN ENERGY IS DOING TO PROMOTE THIS TRANSITION TO ZERO EMISSION VEHICLES. 
          AND AS FAR AS OUR AIRPORT IS CONCERNED, ARE THEY PREPARED FOR ELECTRIC AIRPLANES? UH, ALL I READ ABOUT IS TANK FARMS FOR JET FUEL AND THAT'S KIND OF DISCOURAGING HAS OUR PARKS DEPARTMENT, UH, TRANSITIONED, UH, TO ELECTRIC MOWERS. 
          THEY HAD A WONDERFUL STORY ON THE NEWS TONIGHT ABOUT A LONG COMPANIES SWITCHING TO ALL ELECTRIC, UH, MOWERS AND TRIMMERS, BECAUSE THEY CAN SAVE TONS OF MONEY ON FUEL AND MAINTENANCE. 
          UM, AND HOW ABOUT OUR NEW AUSTIN ENERGY, BUT THIS IS MY SECOND TIME TO BE HERE, BUT I ASKED BEFORE, ARE WE IN NET ZERO ENERGY BUILDING? AND I DON'T THINK I GOT A GOOD ANSWER. 
          UH, IF, IF WE DON'T, I MEAN, THERE ARE MANY HUGE BUILDINGS THAT ARE NET ZERO ENERGY AND AUSTIN ENERGY SHOULD BE A MODEL FOR THOSE. 
          I DON'T KNOW HOW MANY PANELS YOU HAVE ON THE ROOF. 
          I CAN'T SEE, BUT WE SHOULD HAVE PANELS ALL OVER THIS BUILDING. 
          ANYWAY, I'VE SENT MANY OF YOU ARTICLES ABOUT THESE ISSUES AND, UH, HOPE THAT, UH, YOU WILL AT LEAST CONSIDER THEM EACH YEAR. 
          WE HAVE RECORD BREAKING WEATHER EVENTS AND THEY'RE GETTING WORSE. 
          UH, TONIGHT THEY ANNOUNCED THIS WAS THE, THE HOTTEST MAY EVER RECORDED SO FAR. 
          TRIPLE DIGIT DAYS WILL DOUBLE BY THE NEXT DOUBLE BY THE NEXT DECADE. 
          AND IT SEEMS TO ME THAT WE'RE NOT MOVING FAST ENOUGH, HOW THE NEXT GENERATION WILL LOOK AT OUR LACK OF URGENCY DEAL WITH CLIMATE CHANGE IS A REAL CONCERN TO ME. 
          AND I WANT TO THANK YOU FOR LISTENING TO MY GRIPES. 
          THANKS DALE. 
          CAN YOU, ARE YOU GOING TO BE ABLE TO, UM, MAYBE DROP A COPY OFF OF YOUR COMMENTS THAT COULD BE DISTRIBUTED? IS THAT SOMETHING YOU CAN DO? YEAH. 
          THE EMAIL ADDRESS IS FOR EVERYBODY ON 
          [00:05:01]
THE COMMISSION AND I'D BE GLAD TO SEND THEM THIS COPY. 
          THAT'D BE GREAT. 
          I DIDN'T MENTION A COUPLE OF OTHER THINGS, SO THAT WAS KIND OF RUNNING OUT OF TIME, BUT THANK YOU, MR. . 
          UM, CAN I ASK 1, 1, 1 COMMENT, WHICH HAS, UM, IT'S NOT REALLY A QUESTION FOR DALE, BUT WE USED TO GET A QUARTERLY UPDATE FROM FLEET ON WHAT THEY'RE DOING. 
          IS THAT SOMETHING WE STILL WAS THAT HERE? I KNOW WE'VE I KNOW WE'VE GOTTEN AN UPDATE. 
          I DON'T REMEMBER IF IT WAS REGULAR, LIKE IF IT WAS REGULARLY SCHEDULED, BUT I KNOW WE'VE RECEIVED ONE. 
          OKAY. 
          IT'D BE INTERESTING TO GET ONE. 
          AND THEN I KNOW AT ONE POINT I FEEL LIKE WE GOT AN UPDATE FROM ASD ON THEIR SUSTAINABILITY PLANS AND WHAT THEY'RE DOING, BUT I THINK IT'S BEEN A WHILE. 
          SO JUST A SUGGESTION OF MAYBE WE COULD GET AN UPDATE FROM, FROM THE SCHOOL DISTRICTS ON WHAT THEY'RE DOING IN TERMS OF BOTH SOLAR ON SCHOOLS, BUT ALSO ELECTRIC BUSES AND THEN FROM FLEETS AS WELL. 
          I KNOW WE, I KNOW WE GET REGULAR UPDATES FROM CAP METRO AS WELL, BUT IT SEEMS LIKE ALL THOSE WE COULD, WE COULD USE AN UPDATE ON WHERE THEY'RE, WHERE THEY'RE AT AND WHAT THEIR NEXT, I'M NOT SURE IF ALL OF THOSE ARE WITHIN OUR PREROGATIVE SCOPE, SCOPE, IF THEY ARE, IT'D BE NICE TO GET UPDATES. 
          YEAH. 
          OKAY, GREAT. 
          I'VE NOTED THOSE DOWN AND I'LL, UH, TAKE A LOOK AND TALK WITH ROBIN ABOUT FUTURE AGENDA ITEMS. UM, OKAY, GREAT. 
          ANY OTHER PUBLIC COMMENT, ROBIN? OKAY, GREAT. 
          UM, 
          [1. APPROVAL OF MINUTES – Approve minutes of the April 11, 2022 meeting. ]
SO MOVING ON TO ITEM NUMBER ONE APPROVAL OF THE MINUTES FROM THE APRIL 11TH, 2022 MEETING, UH, THAT THE MINUTES WERE CIRCULATED IN YOUR, UH, PACKET. 
          ARE THERE ANY CORRECTIONS HEARING? NONE I'LL ENTERTAIN A MOTION TO APPROVE THE APRIL 11TH MINUTES. 
          I WILL MOTION TO APPROVE. 
          THANK YOU, COMMISSIONER YONKER. 
          IS THERE A SECOND? SECOND. 
          THANK YOU. 
          COMMISSIONER CHAPMAN. 
          ALL IN FAVOR. 
          AYE. 
          AYE. 
          AYE. 
          ALL OPPOSED. 
          NONE. 
          UH, SO ITEM NUMBER ONE, PASSES UNANIMOUSLY. 
          [NEW BUSINESS – CONSENT ]
OKAY. 
          MOVING ON TO NEW BUSINESS. 
          UM, WE HAVE ITEMS NUMBER TWO THROUGH SEVEN, UM, RECOMMENDATION TO COUNCIL. 
          UH, ANY ITEMS THAT COMMISSIONERS WOULD LIKE TO TAKE UP FOR DISCUSSION? I HAVE A QUESTION ON NUMBER FIVE. 
          OKAY. 
          ANY OTHERS? OKAY. 
          HEARING NONE. 
          I WILL ENTERTAIN A MOTION TO APPROVE ITEMS. OH, GO AHEAD. 
          SORRY. 
          I'VE BEEN SPOKE. 
          I MEANT NUMBER FOUR. 
          OKAY, GREAT. 
          NO PROBLEM. 
          NUMBER FOUR. 
          ALL RIGHT. 
          SO ENTERTAINING A MOTION TO APPROVE ITEMS. 2, 3, 5 THROUGH SEVEN. 
          I WOULD. 
          SO MOVE. 
          THANK YOU, COMMISSIONER TRESTLE. 
          IS THERE A SECOND? THANK YOU. 
          COMMISSIONER CHAPMAN. 
          ALL THOSE IN FAVOR. 
          AYE. 
          AYE. 
          GREAT. 
          AND THAT, THAT ALSO PASSES UNANIMOUSLY. 
          ALL RIGHT. 
          [4. (6/16) [Purchasing]; Authorize negotiation and execution of a contract with Practicing Perfection Institute to provide performance improvement consulting services for a term of two years in an amount not to exceed $574,000. ]
WE WILL TAKE UP ITEM NUMBER FOUR NOW. 
          UM, IS THERE SOMEONE FROM COMMISSION STAFF WHO CAN SPEAK TO ITEM NUMBER FOUR? SO RICHARD'S, VICE-PRESIDENT FILLED OPERATIONS. 
          WHAT'S THE QUESTION. 
          I WAS JUST CURIOUS WHAT THE, UM, WHAT KIND OF PERFORMANCE IMPROVEMENT CONSULTING SERVICE THESE THESE ARE AND WHAT THEY'RE FOR? OH GREAT. 
          SO ONE OF THE THINGS THAT WE'RE TRYING TO DO WHEN WE IMPROVE SAFETY IN THE UTILITY BUSINESS AND ACROSS ALL THE UNITED STATES IS TO TRULY IMPROVE. 
          YOU HAVE TO WORK ON THE CULTURE. 
          IT JUST CAN'T BE A CARROT AND STICK. 
          SO PRACTICE, SOME AFFECTION INSTITUTE COMES IN AND IT TEACHES SELF ACCOUNTABILITY, BUT IT DOESN'T IN A MANNER THAT THE INDIVIDUALS START TO RECOGNIZE AND MITIGATE SITUATIONS, NOT ONLY AT WORK, BUT ALSO AT HOME. 
          AND IT ALSO CREATES A COACHING PROGRAM FOR THE SUPERVISORS AND THEN THE LEADERSHIP TEAM TO PROVIDE POSITIVE FEEDBACK ON THE POSITIVE BEHAVIORS TO KEEP EMULATING THAT. 
          SO THIS IS A TRAIN TO TRAINER. 
          SO WE GET THE SUPERVISORS TRAINED, IT'S TRAINED AT ALL THE LEVELS. 
          SO ALL THE LINE EMPLOYEES UNDERSTAND IT AND WHAT IT DOES. 
          IT'S A REALLY, IT'S A SELF AWARENESS CULTURE CHANGE THAT WE'RE LOOKING FOR. 
          UH, I'VE BEEN WORKING ON THIS FOR APPROXIMATELY TWO YEARS. 
          I DID NOT WANT TO BRING IT IN AND COVID BECAUSE THIS IS ONE THAT NEEDS TO BE FACE TO FACE. 
          AND SO THAT'S WHY IT'S NOW BEING BROUGHT UP. 
          DOES THAT ANSWER YOUR QUESTION, SIR? YEAH, ABSOLUTELY. 
          YEAH. 
          SOUNDS GREAT. 
          THANKS SO MUCH. 
          YES, SIR. 
          HAVE A GREAT NIGHT. 
          YOU TOO. 
          [00:10:02]
ANY OTHER QUESTIONS, COMMISSIONER BOWEN? NO, THAT'S IT. 
          THANKS. 
          OKAY. 
          GREAT. 
          ANYBODY ELSE? I MIGHT NEED THAT TRAINING TO HELP ME SO I COULD USE SOME PERFECTION. 
          UH, OKAY. 
          I'LL ENTERTAIN A MOTION TO APPROVE ITEM NUMBER FOUR. 
          I'LL MOTION TO APPROVE. 
          THANK YOU, COMMISSIONER YONKERS THERE. 
          SECOND, SECOND. 
          THANK YOU. 
          COMMISSIONER. 
          READ ALL THOSE IN FAVOR OF PERFECTING AMENDMENT. 
          AYE. 
          OKAY. 
          UM, AND COMMISSIONER CHAPMAN. 
          I'M SORRY. 
          I DIDN'T HEAR YOU. 
          OKAY. 
          GREAT. 
          ALL RIGHT. 
          THEN THE MOTION PASSES UNANIMOUSLY, UH, ITEM NUMBER FOUR IS APPROVED FOR RECOMMENDATION TO COUNCIL. 
          UH, 
          [8. 2nd Quarter Financial Briefing ]
MOVING ON TO, UM, STAFF BRIEFINGS, ITEM NUMBER EIGHT, WE HAVE THE, UH, Q2 FINANCIAL BRIEFING. 
          GOOD EVENING COMMISSIONERS. 
          I'M JOHN DAVIS, DIRECTOR OF FINANCE FOR AUSTIN ENERGY. 
          AND I'LL BE GIVING THE SECOND QUARTER FINANCIAL REPORT FOR US ENERGY SINCE THE DAY. 
          NEXT ROBIN. 
          SORRY. 
          THANK YOU. 
          SINCE THE DATA BEING PRESENTED INCLUDES FORECASTED FINANCIAL INFORMATION, WE MUST INCLUDE A DISCLAIMER TO REMIND EVERYONE THAT AX RESULTS WILL VARY FROM THE FORECAST. 
          THIS REPORT ALSO CONTAINS UNAUDITED INFORMATION IS SUBJECT TO CHANGE. 
          OUR AUDITED FINANCIAL STATEMENTS ARE NOTED BELOW IN THE LINK. 
          NEXT SLIDE PLEASE. 
          FOR CONSISTENCY SAKE, WE WILL BE FOLLOWING OUR STANDARD AGENDA AND PRESENTING TODAY'S QUARTERLY REPORT, WHICH FOCUSES ON FINANCIAL INFORMATION AND THEN CONCLUDES WITH A SPECIAL FOCUS SESSION SECTION ON THE BOND CREDIT RATING AGENCIES. 
          I'LL MOVE ON TO OUR EXECUTIVE SUMMARY. 
          NOW, NEXT ROBIN AND NEXT STARTING IN THE LEFT HAND SIDE HERE AT THE END OF THE SECOND QUARTER OF FISCAL YEAR 22, WE'RE GENERALLY COMPLIANT WITH ALL FINANCIAL POLICIES. 
          ALTHOUGH OUR CONTINGENCY AND CAPITAL RESERVE BALANCES ARE STILL SITTING BELOW THE MINIMUMS. ONCE WE CONSIDER THE ADDITIONAL WORKING CAPITAL AVAILABLE IN THE FORM OF CASH, WE EXCEED THE MINIMUM REQUIRED RESERVES OF 480 MILLION. 
          OUR OPERATING REVENUE FOR THE SECOND QUARTER WAS 707 MILLION OR 6% MORE THAN BUDGET. 
          WHILE OUR OPERATING EXPENSES WITH TRANSFERS WERE 786 MILLION OR 7% MORE THAN BUDGET. 
          THIS INCREASE IN REVENUES AND EXPENSES WAS MOSTLY DUE TO WEATHER DRIVEN INCREASES IN USAGE FOR THE SIX MONTH PERIOD INCLUDED IN THE 786 MILLION ARE TRANSFERS TO SUPPORT OUR OPERATIONS AND TRANSFERS TO COVER DEBT SERVICE AS WELL AS THE FUND, THE CASH PORTION OF OUR CONSTRUCTION EXPENDITURES, ALL OF WHICH NETS TO A DEFICIENCY OF 78 MILLION VERSUS A BUDGETED DEFICIENCY OF 69 MILLION. 
          AT THE END OF MARCH, OUR CASH BALANCE IS 234 MILLION, WHICH IS A DECREASE OF 226 MILLION FROM A YEAR AGO, PRIMARILY DUE TO FUNDING OF THE CAPITAL IMPROVEMENT PLAN, DECREASED MARGINS AND THE POWER SUPPLY RATE REDUCTION DUE TO WINTER STORM URI AUSTIN ENERGY CONTINUES TO MEET THE TARGETED STANDARD AND POOR'S BOND RATING OF AA. 
          HOWEVER, AS WE DISCUSSED LAST QUARTER, WE DO CONTINUE TO SEE DECLINES IN KEY METRICS, WHICH IS WHY THE UTILITY PROPOSED THE RATE CHANGE CURRENTLY UNDER CONSIDERATION. 
          THIS WILL GIVE THE UTILITY THE BEST OPPORTUNITY TO MAINTAIN THAT AA RATING. 
          NEXT, JUST A QUICK QUESTION, IF YOU DON'T MIND. 
          UM, SO I UNDERSTAND, UH, REVENUE BEING UP 6% OVER BUDGET DUE TO AN, UH, AN INCREASE IN SALES BECAUSE OF WEATHER, RIGHT. 
          UM, CAN YOU EXPLAIN TO ME HOW THAT CORRELATES TO AN INCREASE IN OR A SIMILAR INCREASE IN EXPENSES? SO THE EXPENSES DO INCLUDE THE FUEL PORTION BLADED WITH THE SALES. 
          SO IT'S A GROSS UP IF YOU WILL, THE INCOME STATEMENT. 
          SO AS THE EXPENSES GO UP, THE REVENUES DO AS WELL. 
          OKAY. 
          THANK YOU. 
          NEXT SLIDE. 
          OKAY. 
          AUSTIN ENERGY'S FINANCIAL POLICIES ARE MORALIZED AND ADOPTED BY ORDINANCE EACH YEAR DURING THE BUDGETING PROCESS, IT CAN BE GENERALLY CATEGORIZED INTO THREE AREAS, DEBT POLICIES, RESERVE POLICIES, AND OPERATING POLICIES WITH REGARD TO OUR DEBT POLICIES WERE PARTIALLY COMPLIANT. 
          THE SITUATION CAN BE EXPLAINED AS BEING PRIMARILY DUE TO OUR ACCOUNTING TREATMENT OF THE NACADOCIOUS FACILITY, WHICH IS BEING DEPRECIATED OVER A SHORT AND USEFUL LIFE, AS WELL AS THE IMPACT RELATED TO THE LENGTH OF TIME FROM WHICH AUSTIN ENERGY LAST ADJUSTED RATES. 
          AS FOR THE UTILITY RESERVE POLICY, WE ARE PARTIALLY COMPLIANT, BUT MEET OR EXCEED THE THRESHOLD WHEN CONSIDERING OUR CASH BALANCES, THE UTILITY IS FULLY COMPLIANT WITH THE REMAINING OPERATING POLICIES. 
          NEXT SLIDE. 
          AND NEXT 
          [00:15:03]
THIS SLIDE SUMMARIZES SOME OF OUR BOND COVENANT METRICS. 
          AND FROM A BOND COVENANT PERSPECTIVE, WE ARE IN COMPLIANCE WITH THE DAY'S CASH ON HAND. 
          HOWEVER, OUR OPERATING MARGINS DEBT SERVICE COVERAGE RATIO AND CAPITALIZATION RATIOS ARE OUTSIDE OF THE AA CREDIT RATING THRESHOLD. 
          THIS HAS ALREADY BEEN EXPLAINED TO STANDARD AND POOR'S AND FITCH RATING AGENCIES AS BEING DUE TO OUR ACCOUNTING TREATMENT OF THE ACCELERATED DEPRECIATION ASSOCIATED WITH AN NACADOCIOUS BIOMASS PLANT, AS WELL AS THE LENGTH OF TIME SINCE OUR LAST BASE RATE ADJUSTMENT. 
          NEXT SLIDE PLEASE. 
          AUSTIN ENERGY'S AFFORDABILITY GOAL HAS TWO METRICS. 
          THE AFFORDABILITY METRIC SEEKS TO MAINTAIN SYSTEM AVERAGE RATES AT OR BELOW 2% ANNUAL COMPOUND GROWTH RATE. 
          WE'VE CONSISTENTLY MET THIS METRIC SINCE 2013. 
          THE COMPETITIVE COMPETITIVENESS METRIC SEEKS TO MAINTAIN AN AVERAGE ANNUAL SYSTEM RATE IN THE LOWER 50% OF ALL TEXAS ELECTRIC UTILITIES. 
          OSS ENERGY CONTINUES TO MEET THIS METRIC AND HAS BEEN COMPLIANT SINCE 2019 BY KEEPING RATES TO AN 8% BELOW THE TARGET. 
          NEXT. 
          NOW WE'RE GOING TO PRESENT HOW OUR ACTUAL RESULTS COMPARED TO BUDGET. 
          NEXT SLIDE. 
          OUR ENERGY SALES THROUGH THE SECOND QUARTER ARE ABOUT 6,235 GIGAWATT HOURS YEAR TODAY, WHICH IS 8% BETTER THAN BUDGET DUE TO FAVORABLE WEATHER. 
          NEXT LINE OPERATING REVENUES HERE TODAY THROUGH MARCH WE'RE 6% ABOVE OUR FORECASTED BUDGET AMOUNT WITH POWER SUPPLY DRIVING. 
          MOST OF THAT DIFFERENCE POWER SUPPLY REVENUES WERE 33 MILLION ABOVE BUDGET, OR ABOUT 16% BASE REVENUES WERE UP 9 MILLION OR ABOUT 3% AS A RESULT OF SLIGHTLY HIGHER THAN FORECAST TO CONSUMPTION AND DEMAND. 
          NEXT SLIDE, PLEASE OPERATING EXPENSES ALSO CAME IN ABOVE OUR FORECAST BY 9% OR 49 MILLION, MOSTLY DUE TO HIGHER POWER SUPPLY EXPENSES, WHICH WERE 35 MILLION OVER BUDGET DUE TO WEATHER RELATED USAGE. 
          TOTAL OPERATING EXPENSES ARE ABOVE BUDGET AS WELL DUE TO THE TIMING OF EXPENSES AND CUSTOMER CARE AND HIGHER POWER PRODUCTION COSTS. 
          NEXT SLIDE, PLEASE. 
          THIS IS A FUN SUMMARY FORMAT. 
          THE INCOME STATEMENT TO HELP PUT OPERATING REVENUES AND OPERATING EXPENSES IN THE CONTEXT OF THE OVERALL FINANCIAL RESULTS FOR AUSTIN ENERGY YEAR TO DATE OPERATING REVENUES CAME IN AT 707 MILLION FOR THE YEAR TO DATE PERIOD ENDED MARCH, WHICH IS 6% BETTER THAN BUDGET AS DESCRIBED EARLIER, LARGELY DUE TO HIGHER POWER SUPPLY REVENUE OPERATING EXPENSES OF 604 MILLION. 
          WE'RE 9% OVER BUDGET. 
          I'M JUST WORKING DOWN THAT LEFT-HAND COLUMN BY THE WAY, 9% OVER BUDGET, PRIMARILY DRIVEN BY POWER SUPPLY EXPENSE AND POWER PRODUCTION COSTS. 
          THIS RESULTS IN POSITIVE OPERATING INCOME, 103 MILLION, BUT AFTER MEETING DEBT SERVICE REQUIREMENTS OF 68 MILLION AND MAKING GENERAL FUND AND OTHER TRANSFERS AND 57 MILLION AUSTIN ENERGY INTO THE QUARTER WITH A DEFICIENCY OF 79 MILLION COMPARED TO OUR FORECASTED DEFICIENCY OF 69 MILLION. 
          EXCELLENT, PLEASE. 
          YES. 
          IF I COULD ASK A EARLIER YOU REFERRED TO THE WOODCHIP PLANT AND BASICALLY THAT BEING ONE OF THE COSTS DRIVERS OF THE EARLY, AS I UNDERSTAND EARLY PAYMENT ON THAT IF WE HAD NOT MADE MA IF WE HAD NOT MADE THAT DECISION, HOW WOULD THAT AFFECT, HOW WOULD THAT AFFECT THE, WE WOULD BE IN COMPLIANCE AND IT WAS ACCELERATED DEPRECIATION OF THE ASSETS, RIGHT? YEAH. 
          SO, AND WE WOULD HAVE, WE WOULD HAVE MET THE METRIC. 
          SO THAT'S BEEN, THAT'S BEEN A WAY TO RATIONALIZE WHILE WE WERE OUTSIDE THE BOUNDARIES OF THOSE METRICS WITH STANDARD AND POOR'S AND FITCH. 
          THANK YOU. 
          DOES THAT HELP? SORRY. 
          I'M NOT QUITE UNDERSTANDING. 
          SO WE'RE DEPRECIATING THE VALUE OF THE NACADOCIOUS PLANT. 
          COULD YOU JUST EXPLAIN IT IN SIMPLER TERMS ROSE TO ME THINK WE'VE HAD THIS PRESENTATION BEFORE I'M JUST DRAWN TO, BUT WE ACQUIRED THE NACADOCIOUS PLANT. 
          UH, SO IT BECAME OUR ASSET. 
          IT WAS NO LONGER BEING MANAGED BY SOMEBODY ELSE. 
          AND IT WAS ADVANTAGEOUS FOR CITY OF AUSTIN TO DO THAT BECAUSE THE PURCHASE POWER AGREEMENT AND THE PRICE THAT PURCHASE POWER AGREEMENT WAS HIGH MADE UNFAVORABLE. 
          RIGHT. 
          AND SO WE ACQUIRED THE ASSETS AND THE ASSETS WERE, UM, UH, DEPRECIATED ON AN ACCELERATED BASIS. 
          SO WE'RE ACTUALLY DEPRECIATING THEM OVER 42 AND A HALF MONTHS, UH, SO SIX AND A HALF YEARS, UM, BASICALLY. 
          OKAY. 
          AND IS THE EXPECTATION THAT WE WOULD, WE'RE GOING TO, IF IT STILL MAKES SENSE TO RUN IT BECAUSE IT'S MAKING US MONEY, WE WILL, BUT IF IT'S BEEN SIX YEARS, IT DOESN'T, IT'S NOT WORTH IT. 
          THEN WE JUST SHUT IT DOWN. 
          IS THAT BASICALLY THE IDEA THAT WE HAVE DECISION'S BEEN MADE, UM, RUSTY, IF YOU HAVE MORE INFORMATION ON THAT, FEEL FREE TO STEP UP, BUT, UM, I DON'T THINK THAT DECISION HAS BEEN MADE, ESSENTIALLY WE, THE QUESTION IS WE 
          [00:20:01]
OWN IT NOW WE'RE DEPRECIATING IT FAST. 
          WE WILL DECIDE WHETHER IT MAKES SENSE TO KEEP RUNNING IT OR NOT BASED ON THE MARKET CONDITIONS ARE ABSOLUTELY CORRECT. 
          OKAY. 
          AND, AND, AND RELATED IF WE DID NOT APPRECIATE IT IN THE SIX AND A HALF YEARS, BUT RATHER TOOK OUT A LONGER LOAN, UH, 10, 15 YEARS. 
          HOW WOULD THAT, HOW WOULD THAT AFFECT, I THINK WE'D APPRECIATE IT OVER ABOUT THREE AND A HALF YEARS. 
          WE'RE JUST ABOUT AT THE END OF THE FIRST QUARTER IT'S OF 22 IT'S FULLY DEPRECIATED. 
          SO, UM, THAT'S CORRECT. 
          SO BY DECEMBER OF 22, WE'LL BE, WE'LL HAVE IT FULLY DEPRECIATED OUT. 
          SO IT WAS, IT WAS A SHORT PERIOD OF TIME, RIGHT. 
          AN INTERIM, UH, TO PLACE OURSELVES IN THE BEST POSITION TO MOVE FORWARD. 
          AND SO IT WAS AN INTERIM, IT WAS A SHORT, WE ACCELERATED DEPRECIATION. 
          UM, AND, UM, THE ONLY THING THAT IT REALLY IMPACTED WAS, UM, UH, SERVICE COVERAGE RATIO, NOT DEBT SERVICE COVERAGE RATIO, BUT THE NET NOT INCOME GROSS, GROSS INCOME, WHERE WE TRY TO HIT THAT 10% MARK DEPRECIATION COMES OUT FIRST AND THEN WITH REGULATORY ACCOUNTING, THAT THOSE COSTS ARE BOOM, BACK AS COST TO BE RECOVERED. 
          SO ON AN INCOME FROM ON A NET INCOME BASIS, THERE'S NO IMPACT, BUT BECAUSE OF WHERE DEPRECIATION HITS ON THE GROSS INCOME, UM, I BELIEVE IS THAT THE RIGHT WORD, GROSS INCOME, HOLD ON JUST A SECOND. 
          WHAT WAS OUR, WOULDN'T IT BE NET INCOME REVENUE MINUS COGS EQUALS GROSS PROFIT, EXCUSE ME. 
          IT'S IT'S OPERATING MARGINS. 
          SO, UM, UH, THAT'S, THAT'S WHERE OUR MINIMUM WAS 10%. 
          RIGHT? AND THAT, THAT 10% WAS CALCULATED AFTER DEPRECIATION, BUT BECAUSE IT WAS ACCELERATED THAT THAT WAS OPERATING MARGINS WERE UNDERSTATED BECAUSE OF THE ACCELERATED DEPRECIATION. 
          THEN RIGHT AFTER THAT, AFTER OPERATING MARGINS, THOSE COSTS WERE REVERSED. 
          ITS COST TO BE RECOVERED PER REGULATORY ACCOUNTING. 
          SO NET INCOME WAS NOT AFFECTED AT ALL IT'S NON-CASH ITEM. 
          HEY, UM, SO I THOUGHT I HEARD 42 MONTHS, THREE AND A HALF YEARS, BUT IT'S FULLY DEPRECIATED BY THE END OF 2022, OR IS IT 2022 PLUS THREE AND A HALF YEARS? NO, UH, MY UNDERSTANDING IS THAT IT IS FULLY DEPRECIATED BY DECEMBER OF 2022. 
          AND AS FAR AS THE METRICS, THE CREDIT METRICS GO ONCE WE HAVE A FULLY DEPRECIATED ASSET, ARE WE EXPECTING S AND P AND FITCH THAT THAT WILL NO LONGER BE A FACTOR THAT'S CURRENTLY IN THE CREDIT. 
          RIGHT. 
          AND THE ISSUE GOES AWAY BECAUSE ACCELERATED APPRECIATION GOES AWAY. 
          OKAY, THANK YOU. 
          OKAY. 
          AND I THOUGHT WE HAD SOMETHING WHERE SOME EFFICIENCIES HAD BEEN IMPROVED AND NOW THAT'S OPERATING IN THE MONEY AND IT'S OPERATING RIGHT NOW, ESPECIALLY WHEN THE GRID'S TIGHT. 
          IS THAT TRUE? UM, I'M NOT QUALIFIED TO SPEAK TO THAT, BUT IS IT RUNNING? I, I'M NOT FAMILIAR WITH THE DISPATCH OF IT. 
          WAIT FOR THE NEXT PRESENTATION, I THINK IS WHAT HE'S SAYING, OPERATE IN, BUT IS THERE SOMEBODY IN THAT THAT CAN SPEAK TO IT? WELL, IF IT'S IN THE OPERATIONS BRIEFING, WE'LL JUST TALK THEN WE CAN, GOOD EVENING. 
          I'M JACK PORSCHE. 
          I'M THE GENERAL DIRECTOR OF GENERATION. 
          SO TO ANSWER YOUR QUESTION, COMMISSIONER, YES, IT IS RUNNING, UM, WE'VE REDUCED THE LOAD TO 50%, WHICH IS A SIGNIFICANT DIFFERENCE AND WE'VE KEPT IT WITHIN, WITHIN, UM, EMISSIONS LIMITS. 
          AND THEN WE'RE ABLE TO HEDGE THAT AMOUNT FORWARD. 
          SO WE'RE AT 50% AND BASICALLY HEDGING IT FORWARD. 
          THE OTHER 50% AS THE COST OF ELECTRICITY GOES UP, WE'RE ABLE TO RAISE THE LOAD AND MAKE EXTRA MONEY THROUGH THAT. 
          NOW THERE'S A WHOLE LOT OF OTHER FACTORS GO IN THERE, BUT THAT'S THE BASICS OF IT TO ANSWER YOUR QUESTION. 
          YEAH. 
          SO BASICALLY IT WASN'T MY QUESTION, BUT IT WAS SOMEBODY OVER THERE, BUT WHY DID DAVID, DID HE ANSWER YOUR QUESTION? I THINK SO. 
          SO IT'S RUNNING, IT'S 50% FORWARD, HEDGED AS FAR AS LOCKING IN FUTURE PRICES AND THEN 50% IN THE REAL-TIME MARKET. 
          IS THAT WHAT YOU'RE CORRECT? THAT'S CORRECT. 
          THAT ELIMINATES ALL OUR STARTUP COSTS ALL OUR, ALL OUR TIME WITH, WITH NO CASHFLOW COMING IN, BUT NO CASH BURNS. 
          YOU'RE GENERATING CASH. 
          WE ARE BREAKING EVEN ON THE FIRST 50 MEGAWATTS. 
          OKAY. 
          ALL RIGHT. 
          THANK YOU. 
          [00:25:04]
OKAY. 
          THANK YOU. 
          ALL RIGHT. 
          SHALL WE CONTINUE? RACHELLE? OKAY, GREAT. 
          THANK YOU. 
          ON THIS GRAPH, THE BLUE LINE REPRESENTS THE BILL POWER SUPPLY ADJUSTMENT REVENUE, WHICH RECOVERS OUR POWER SUPPLY COSTS. 
          THE BLUE LINE IS BELOW THE YELLOW BARS DUE TO THE IMPACT FROM THE FEBRUARY 21 STORM, WHICH RESULTED IN A POSITIVE BALANCE OF 105 MILLION WHEN WE BEGAN THIS FISCAL YEAR. 
          SO WE INTENTIONALLY SET THE POWER SUPPLY ADJUSTMENT RATE TO UNDER RECOVER COSTS AND PASS THOSE EARNINGS ON TO OUR CUSTOMERS. 
          NEXT SLIDE, PLEASE. 
          WITH 50% OF THE YEAR BEHIND US, WE SPEND ABOUT 36% OF OUR 22 CAPITAL IMPROVEMENT PLAN BUDGET AS OF THE END OF THE SECOND QUARTER. 
          HOWEVER, IT IS STILL EARLY IN, DIFFICULT TO FORECAST WHERE WE MAY BE BY THE END OF THE FISCAL YEAR IN SEPTEMBER. 
          ONE OF OUR GOALS IS TO KEEP THE DEBT FUNDED PORTION OF RECAPITALIZATION BELOW 50% AS INDICATED IN THE PIE CHART ON THE LEFT, YOU COULD SEE THAT 22% OF OUR CIP FUNDING WAS SOURCED FROM CONTRIBUTIONS AND 33% WAS SOURCED FROM CASH FROM OPERATIONS. 
          AS A RESULT WE'RE SUCCESSFULLY STAYING WITHIN THIS GOAL OF LESS THAN 50% OF OUR FUNDING COMING FROM DEBT. 
          NEXT SLIDE, PLEASE. 
          THIS CHART DISPLAYS ALL THE COMPONENTS OF POWER SUPPLY COSTS FOR THE MOST RECENT 12 MONTHS INTO MARCH 22 AND DEMONSTRATES THE VALUE OF OUR DISPATCHABLE RESOURCES AND PURCHASE POWER AGREEMENTS. 
          IN OUR PORTFOLIO, YOU CAN SEE HERE HOW THE LOAD ZONE COST OF 578 MILLION WAS OFFSET BY GENERATION FROM OUR OWNED ASSETS, ALONG WITH THE FINANCIAL BENEFITS FROM OUR HEDGING ACTIVITIES THAT RESULTED IN A NET POWER SUPPLY EXPENSE, THE 445 MILLION FOR THE MOST RECENT 12 MONTHS. 
          NEXT SLIDE, PLEASE. 
          NOW WE'RE GOING TO TAKE A LOOK AT THE FINANCIAL STATEMENTS, STARTING OFF WITH THE BALANCE SHEET. 
          NEXT SLIDE FOR THE BALANCE SHEET, WE'VE HIGHLIGHTED THAT OUR CASH AND RETAINED EARNINGS ARE DECREASING. 
          THIS IS SOMETHING THAT WE'VE MENTIONED LAST QUARTER, AND THE PATTERN REMAINS THE SAME. 
          THIS IS A REFLECTION OF THE IMPACT OF REDUCED MARGINS CAUSED BY LOWER KILOWATT HOUR CONSUMPTION, PAIRED WITH HIGHER OPERATING EXPENSES AND DEBT SERVICE REQUIREMENTS. 
          IT IS IMPORTANT TO NOTE THAT OUR CURRENT BASE RATES ARE PREDICATED ON ACTUAL EXPENSES FROM 2014, WHICH WERE USED TO ESTABLISH THE BASE RATES THAT WE'RE BILLING TODAY. 
          ALSO NOTE IN ADDITION TO RETAINED EARNINGS OR CASH BALANCES ARE DECLINING WHILE CAPITAL ASSETS CONTINUE TO GROW THE CHART ON THE UPPER RIGHT SHOWS OUR WORKING CAPITAL AND RESERVES, WHICH CAME IN AT 523 MILLION AS OF THE END OF MARCH, WHICH WE DISCUSSED EARLIER IN THE PRESENTATION AS EXCEEDING OUR MINIMUM TARGET OF 480 MILLION, THE LOWER RIGHT-HAND CORNER PRESENTS THE PROFILE OF OUR COMMERCIAL PAPER ISSUES. 
          WE HAVE ABOUT 118 MILLION OUTSTANDING ON A $300 MILLION CAPACITY LINE. 
          NEXT SLIDE, PLEASE. 
          ANOTHER VIEW OF THE FINANCIALS FROM A GAP STANDPOINT IS PRESENTED HERE TO THE LEFT ON THE INCOME STATEMENT, OPERATING REVENUES INCREASED DUE TO AN INCREASE IN USAGE AND INCREASED REGULATORY REVENUES, POWER SUPPLY REVENUE, POWER SUPPLY EXPENSE APPEAR HIGH RELATIVE TO LAST YEAR DUE TO THE IMPACT OF THE FEBRUARY WINTER STORM ON FISCAL YEAR 21, THE $61 MILLION NET LOSS IS PRIMARILY DUE TO THE IMPACT OF OUR CONTINUED DECREASE IN OPERATING MARGINS. 
          AND YEAR OVER YEAR, OUR CUSTOMER COUNT GREW BY 10,000 OR 2%, AND OUR SALES AND GIGAWATT HOURS HAVE INCREASED DUE TO WEATHER BY 5%. 
          NEXT SLIDE. 
          NOW WE'RE GOING TO TALK THROUGH SOME OF THE CORRELATIONS BETWEEN AUSTIN ENERGY'S OPERATIONS AND THE BOND CREDIT RATINGS. 
          NEXT SLIDE, PLEASE. 
          CALVER PROJECT IS NOT FUNDED WITH CASH OR CONTRIBUTIONS ARE FUNDED INITIALLY BY COMMERCIAL PAPER, WE USE TWO TYPES OF COMMERCIAL PAPER, TAXABLE AND TAX EXEMPT. 
          TAXABLE IS NORMALLY USED FOR DISTRICT COOLING PROJECTS OR NEWER GENERATION ASSETS SUCH AS WHEN WE ACQUIRE THE NACADOCIOUS BIOMASS PLANT. 
          ONCE OUR BALANCE OF COMMERCIAL PAPER HAS ACCUMULATED TO AROUND 200 MILLION FOR TAX EXEMPT AND A HUNDRED BILLION FOR TAXABLE, WE'LL GO TO THE MARKET TO TAKE OUT THE OUTSTANDING COMMERCIAL PAPER WITH A NEW ROUND OF BOND FINANCING. 
          AND IF IT MAKES ECONOMIC SENSE, WE WILL GIVE CONSIDERATION TO PAYING OFF PRIOR BOND ISSUANCES, WHICH IS A PROCESS REFERRED TO AS ADVANCED REFUND. 
          THE NEWLY ISSUED BONDS WILL BE PRICED IN THE MARKET BASED UPON THE UTILITIES CREDIT RATING AS PROVIDED BY THE CREDIT RATING AGENCIES AT THAT TIME. 
          NEXT SLIDE PLEASE. 
          OKAY. 
          THERE'S THREE PRIMARY RATING AGENCIES, FITCH MOODY'S AND STANDARD, AND POOR'S AUSTIN ENERGY ENGAGES ALL THREE TO ASSESS OUR CREDIT WITH ITS CURRENT BOND RATINGS. 
          AUSTIN ENERGY IS AMONG THE HIGHEST CREDIT RATED PUBLIC UTILITIES IN THE UNITED STATES, BOTH FISH AND POURS PLACED AUSTIN ENERGY ON A NEGATIVE OUTLOOK IN EARLY 21. 
          AFTER WINTER STORM URI, THIS NEGATIVE OUTLOOK REFLECTED THE UNCERTAINTY ASSOCIATED WITH OPERATING WITHIN THE ERCOT AT THAT TIME FACTORS THAT CONTRIBUTED TO THE UNCERTAINTY AT THE TIME INCLUDED BILLING DISPUTES AMONG ERCOT CUSTOMERS FALL, SORRY, ERCOT PARTICIPANTS 
          [00:30:01]
FOLLOWING THE WINTER STORM, THE MARKETS RELATIVE PRICE VOLATILITY, HEIGHTENED RELIABILITY, RISKS, EXTREME TEMPERATURE, DEMAND, FLUCTUATIONS, AND WEAKER GRID INTERCONNECTIVITY AS COMPARED TO GRIDS AND OTHER STATES MOODY'S DID NOT ADJUST OUR RATING. 
          FOLLOWING THE STORM AT OUR CURRENT LEVEL OF EXPENDITURES, WE EXPECT TO ISSUE BONDS IN EARLY 2023, AND AUSTIN ENERGY WILL ONCE AGAIN BE RATED BY ALL THREE OF THE AGENCIES AT THAT TIME. 
          IF WE ARE SUCCESSFUL IN SECURING THE RATE PROPOSAL, PRIOR TO THAT ISSUANCE, WE EXPECT THAT TO SERVE AS AN INDICATION OF OUR CREDIT STRENGTH. 
          NEXT SLIDE PLEASE. 
          SO BEFORE WE GET OFF, SO THAT'S WHEN THE NEGATIVE WILL BE TAKEN OFF BY THOSE THREE RATING AGENCIES. 
          WE CAN'T SAY IT'LL BE TAKEN OFF. 
          IT'S JUST BE UP FOR CONSIDERATION WILL BE REVIEWED AGAIN. 
          IF YOU WILL, HOW OFTEN DOES THAT REVIEW OCCUR? THEY DO, THEY WILL DO PERIODIC UPDATES, BUT IT WILL DEFINITELY OCCUR AT THE TIME WE DO THE NEW BOND ISSUANCE, BUT THEY WILL UPDATE THEIR REVIEWS FROM TIME TO TIME. 
          SO THE LAST UPDATES OCCURRED IN 2021 LAST BOND ISSUE AT ISSUANCE WAS IN 2020. 
          OKAY, THANK YOU. 
          UH, AS MENTIONED MOMENTS AGO, STANDARD AND POOR'S REAFFIRMED OUR AA RATING IN MAY OF 2021, BUT PLACED US ON A NEGATIVE OUTLOOK IN THE REPORT. 
          THEY IDENTIFIED SEVERAL CREDIT STRINGS THAT HELPED US MAINTAIN OUR RATING ON THE LEFT. 
          YOU'LL SEE THOSE LISTED WITH SPECIFIC STRENGTHS DESCRIBED ON, UH, INCLUDING STRONG CUSTOMER GROWTH THAT IS NOT CONCENTRATED, ROBUST HISTORICAL LIQUIDITY IN A GENERATION PORTFOLIO THAT IS FUELED DIVERSE. 
          THEY ALSO PROVIDE SOME CHALLENGES THAT THEY'RE WATCHING, WHICH COULD LEAD TO A CREDIT DOWNGRADE. 
          AND THOSE ARE LISTED ON THE RIGHT. 
          SOME OF THESE ARE THE OTHER SIDE OF THE COIN. 
          I WOULD SAY OUR GROWING CUSTOMER BASE REQUIRES SIGNIFICANT INVESTMENT IN INFRASTRUCTURE, WHICH WILL INCREASE OUR DEBT SERVICE REQUIREMENTS. 
          AND THAT REQUIRES INCREASED REVENUES, THE RETIREMENT OF DECKER AND OUR EVENTUAL EXIT OF FIT. 
          BOTH DISPATCHABLE RESOURCES WILL ADD ADDITIONAL PRICE RISK TO OUR PORTFOLIO AND FINALLY STANDARD POOR'S CESAR OPERATIONS WITHIN ERCOT AS A HIGHER RISK, WHICH WILL NEED STRONGER LIQUIDITY, PROACTIVE PLANNING, HEDGING, AND FINANCIAL FLEXIBILITY TO MAINTAIN THAT AA RATING. 
          NEXT SLIDE, PLEASE. 
          CREDIT RATINGS ARE THE RESULT OF A FINANCIAL REVIEW PERFORMED BY THE RATING ANALYSTS ANALYSTS AT THESE AGENCIES. 
          THEY COME THROUGH A LOT OF DATA SPECIFIC TO THE UTILITY, INCLUDING OUR ABILITY TO MAINTAIN HEALTHY CASH RESERVES AND WHETHER FINANCIAL STRESS TESTS ADDITIONAL CONSIDERATION IS GIVEN TO THE EASE BY WHICH RATE CHANGES ARE MADE IN ANY SIGNIFICANT FUTURE CAPITAL OUTLAYS OCCUR. 
          IT GOES WITHOUT SAYING THAT A LOWER CREDIT RATING INCREASES COSTS TO THE RATE PAYERS. 
          THIS CHART ILLUSTRATES THE FINANCIAL BENEFIT TO AUSTIN ENERGY RATE PAYERS RESULTING FROM A DOUBLE AA RATING, WHICH IS WHERE WE ARE TODAY AS COMPARED AS COMPARED TO A LOWER CREDIT RATING OF TRIPLE B, WHICH IS TWO GRADES LOWER THAN WHERE WE ARE TODAY. 
          AT THE TIME OF THIS PRESENTATION FOR BOND ISSUANCE OF 300 MILLION, THE SAVINGS FROM BONDS BEING PRICED AT ISSUANCE WITH THE AA RATING VERSUS A TRIPLE B RATING AMOUNTED TO 43.7 MILLION OVER THE LIFE OF THE BOND. 
          IF THERE ARE THREE BONDS SERIES ISSUE BETWEEN THE CHANGES IN THE RATE REVIEWS, EACH BOND ISSUANCE WOULD OCCUR THAT ADDITIONAL COSTS. 
          NEXT SLIDE, PLEASE. 
          THERE ARE OTHER BENEFITS TO AUSTIN ENERGY. 
          IN ADDITION TO THE INTEREST SAVINGS THAT RESULT FROM MAINTAINING A FAVORABLE CREDIT RATING, IT AFFECTS ALL SYNERGIES ABILITY TO RECRUIT PERSONNEL. 
          AND IT ALSO IMPACTS NEGOTIATIONS WITH VENDORS THAT WE DO BUSINESS WITH BECAUSE CREDIT RATINGS AFFECT THE TERMS AND CONDITIONS THAT VENDORS ARE WILLING TO CONSIDER FOR SUCH THINGS AS PAYMENT TERMS AND EXTENSIONS OF CREDIT. 
          ADDITIONALLY, MAINTAINING A HIGHER CREDIT RATING USUALLY MEANS A LOWER MARGIN REQUIREMENT FOR TRADING IN THE POWER MARKETS WITH COUNTERPARTIES. 
          EXCELLENT. 
          LET ME ASK YOU ABOUT THAT, PLEASE. 
          ARE, ARE ALL OF WHICH HAS AUSTIN ENERGY IS PART OF THE CITY OF AUSTIN AND THEREFORE, DO WE HAVE VENDORS THAT WE PURCHASE FROM THAT WOULD CHARGE US MORE BECAUSE THE CITY OF AUSTIN MIGHT DEFAULT IN PAYMENT THAT I, I, YOU KNOW, I ARE THAT PEOPLE WOULD NOT COME TO WORK FOR THE CITY OF AUSTIN BECAUSE WE HAVE A TRIPLE A BOND IT'S A DOUBLE EIGHT. 
          AND IF IT CHANGES, THEN IT BEARS RECONSIDERATION IN TERMS OF THE VENDORS THAT WE DEAL WITH AND THE TERMS AND CONDITIONS THAT THEY'RE WILLING TO CONSIDER. 
          SO, SO YOU'RE SAYING IT IS MATERIAL. 
          IF, YOU KNOW, IF THE PEOPLE THAT SELL US POLES AND OTHER ITEMS OR THE PEOPLE THAT WANT TO APPLY FOR A JOB HERE ARE GOING TO LOOK AT THAT. 
          YES, THE CREDIT RATING EIGHT, THE CREDIT RATINGS WILL AFFECT OUR ABILITY TO NEGOTIATE WITH VENDORS. 
          AND OF COURSE, OBVIOUSLY THE FURTHER DECLINES, THE MORE PEOPLE RECONSIDER 
          [00:35:03]
I'M SURPRISED. 
          THANK YOU. 
          THE QUESTION ON THE, UH, THAT I WANT TO CLARIFY, DOES AUSTIN ENERGY HAVE STANDALONE, UH, CREDIT RATING OR IS IT TIED TO THE CITY OF AUSTIN? OKAY. 
          STANDALONE, SORRY FOR THE FOLKS ON THE CALL. 
          IF YOU DIDN'T HEAR THAT IT'S STANDALONE. 
          OKAY. 
          THANKS. 
          I MEAN, I CAN SEE DIRECTLY WHERE IF YOU'RE, IF YOU'RE GOING TO BE THE OFF-TAKER PPA, THAT THE STRONGER THE CREDIT RATING, THE EASIER IT IS FOR UTILITY SCALE WIND OR SOLAR DEVELOPER, FOR EXAMPLE, TO, TO GET THEIR PROJECT THROUGH. 
          SO THEY'RE BANKING ON THE CREDIT RATING OF AUSTIN ENERGY TO HELP THEM FINANCE AND IT, AND THEN COMES AROUND AND HELPS SAVE MONEY. 
          OKAY. 
          THIS PIE CHART ILLUSTRATION WAS PROVIDED TO SHOW AUSTIN ENERGY'S PROPORTIONAL AMOUNT OF COMMERCIAL PAPER OUTSTANDING RELATIVE TO LONG-TERM BONDS. 
          AT THE END OF THE SECOND QUARTER, OSS ENERGY HAD 118 MILLION OUTSTANDING IN COMMERCIAL PAPER AND 2.07 BILLION OUTSTANDING IN LONG-TERM BONDS, INCLUDING ACCRUED INTEREST. 
          NEXT SLIDE, PLEASE. 
          THIS GRAPH HAS PROVIDED TO GIVE YOU PERSPECTIVE WHEN THE AMOUNT OF DEBT SERVICE SCHEDULED FROM NOW AND OVER THE NEXT 30 YEARS ON BONDS THAT ARE CURRENTLY OUTSTANDING. 
          YOU CAN SEE THE PROPORTIONAL AMOUNT OF DEBT SERVICE RELATED TO INTEREST VERSUS PRINCIPLE AND HOW THE INTEREST PORTION DECLINES OVER TIME. 
          IN SUMMARY, THE CREDIT RATING RE SORRY, THE CREDIT RATING REVIEW PROCESS FOCUSES ON MANY FACTORS, BUT AS PRIMARILY PREDICATED ON THE SECURITY AND STABILITY OF THE REVENUE STREAM AND AUSTIN ENERGY'S ABILITY TO MEET ITS DEBT SERVICE REQUIREMENTS, HOPEFULLY THIS PRESENTATION PROVIDES YOU A LITTLE MORE INSIGHT INTO THE CREDIT REVIEW PROCESS AT AUSTIN ENERGY. 
          THIS CONCLUDES THE SECOND QUARTER PRESENTATION, HAPPY TAKING YOU FOR THE QUESTIONS. 
          JUST ONE GOOD QUESTION. 
          AND IF YOU DON'T HAVE THE ANSWER, I'M HAPPY TO GET IT LATER, BUT I'M THE LONG-TERM DEBT MORE OR LESS AS A PERCENTAGE BASIS. 
          DO WE KNOW WHAT PERCENTAGE OF THAT IS DUE TO POWER PLANS VERSUS TRANSMISSION VERSUS DISTRIBUTION? DO WE HAVE ANY, ANY GENERAL RULE OF THUMB THERE? I DON'T HAVE THAT BREAKOUT, BUT WE CAN PROVIDE THAT. 
          I'M SURE I'D BE INTERESTED IN SEEING THAT JUST IN GENERAL CATEGORIES, WHAT THE, WHAT THE, WHAT WE HAVE DEAD ON RELATIVELY SPEAKING, RUSTY MANUALS, VICE PRESIDENT OF FINANCE, UH, RELATIVELY SPEAKING. 
          UM, MOST OF THAT JET, UH, DEBT IS NOT ATTRIBUTED TO GENERATION MOSTLY BECAUSE MOST OF OUR POWER PLANTS ARE OUR OLDER POWER PLANTS SAVING A SET NACADOCIOUS, WHICH IS, WHICH IS BEING PAID OFF ON AN EXPEDITED BASIS. 
          IF I THINK IT'D BE INTERESTING JUST TO HAVE A GENERAL CHART ON THE CATEGORIES OF THAT, THAT WE HAVE. 
          OKAY. 
          IF THAT'S, IF IT'S EASY TO READ, IS IT MOSTLY DISTRIBUTION OR S YOU KNOW, LIKE TWO THIRDS DISTRIBUTION, ONE THIRD TRANSMISSION, AND OR WHAT DO YOU THINK THE BREAKOUT IS? UH, YOU KNOW, I I'D HATE TO SPEAK OFF THE CUFF. 
          I, YOU KNOW, I, I CAN'T ADDRESS GENERATION BECAUSE I KNOW MOST OF THOSE PLANTS ARE OLDER. 
          UM, AND, UM, UM, PROBABLY, AND, AND, AND JUST RATIONALLY SPEAKING THAT THAT'S THE, YOU KNOW, THAT MOST OF THAT DEBT IS, HAS BEEN PAID OFF OR AS WELL IN THE PROCESS OF BEING PAID OFF, BUT I DON'T HAVE A FEEL FOR THE OTHER STUFF YET. 
          SORRY ABOUT THAT. 
          UH, I THINK THAT'S HELPFUL AND WE CAN ADD THAT TO OUR LIST OF REQUESTED ITEMS. THANK YOU. 
          [9. 2nd Quarter Operations Briefing ]
OKAY. 
          MOVING ON TO ITEM NUMBER NINE, THIS IS THE Q2 OPERATIONS BRIEFING. 
          GOOD EVENING. 
          I AM SIDNEY JACKSON, CHIEF OPERATIONS OFFICER AT AUSTIN ENERGY, AND I WILL BE PRESENTING AUSTIN ENERGY'S Q2 FISCAL YEAR OPERATIONS REPORT. 
          QUARTER TWO TIMEFRAME REPRESENTS THE OPERATIONS PERFORMANCE FOR THE MONTHS OF JANUARY, FEBRUARY, AND MARCH FROM AN OPERATIONS AND AN ENERGY MARKET PERSPECTIVE. 
          THESE MONTHS ARE CRITICAL AS WE TYPICALLY EXPERIENCE WINTER PEAK LOADS DURING THIS TIMEFRAME, IF WE MOVE TO SLIDE NUMBER THREE, UH, NEW TO THIS QUARTER, UH, WE HAVE INSTITUTED AND AN EXECUTIVE SUMMARY SIMILAR TO THE FINANCE SECTION, AND IT CONVEYS SOME OF THE, UH, MAIN OPERATIONAL AREAS. 
          [00:40:01]
LOOKING FROM THE TOP LEFT GENERATION AVAILABILITY REMAINS ON TARGET AT NEARLY A HUNDRED PERCENT FOR KEY FACILITIES EXCEPT WERE PLANNED OUTAGES WERE EXPERIENCED LOWER LEFT KEY RELIABILITY, BENCHMARKS BENCHMARKS WERE NEGATIVELY IMPACTED BY THE QUARTER DUE TO WINTER STORMS, UH, TO INCLUDE WINTER STORM LANDON. 
          UH, BUT OVERALL RELIABILITY BENCHMARKS REMAINS STATISTICALLY CONSISTENT WITH TOP CORE TILE, UH, PERFORMANCE OR BENCHMARKS LOOKING AT THE TOP, RIGHT, RENEWABLE PERFORMANCE AND RENEWABLE OUTPUT FOR THE QUARTER IS ON TARGET AT, IN 59% FOR THE QUARTER AND THE BOTTOM, RIGHT CARBON-FREE PRODUCTION FOR THE QUARTER REMAINS ON TARGET WITH AN, WITH THE MONTH OF MARCH GRANULARLY, LOOKING AT THE MONTH OF MARCH, AS IT APPROACHED A HUNDRED PERCENT CARBON-FREE PRODUCTION AS A PERCENTAGE OF LOAD FOR THAT MONTH. 
          IN SUMMARY, THE KEY OPERATIONAL INDICES INDICES ARE ON TRACK. 
          MOVING TO SLIDE NUMBER FIVE IN THE RESPECT OF TIME, I'LL MOVE, MOVE THROUGH THE MORE GRANULAR OR MORE DETAILED INFORMATION IN A FLYOVER FASHION AS SHOWN, UH, COMMERCIAL, UH, MAIL OF BILL AVAILABILITY REMAINS A HIGH ALMOST A HUNDRED PERCENT ACROSS THE BOARD, EXCEPT WHERE WE HAVE HAD PLANNED OUTAGES AS SHOWN HERE BY THE SAND HILL, UH, COMBINED CYCLE FACILITY, MOVING TO SLIDE NUMBER SIX, THE UPPER HAND AT THE UPPER RIGHT-HAND CORNER, G A G CONFIRMS, UH, GENERATION IS COMMENSURATE WITH LOAD, UH, CONTINUING THE SHOW, THE RES THE DESIRED AND RESPECTIVE, UH, PORTFOLIO BALANCE WITH THE LARGEST GENERATION SEGMENT, BEING RENEWABLES, UH, CONTRIBUTING ALMOST 1.9 MILLION MEGAWATT HOURS FOR THE QUARTER, MOVING TO SLIDE NUMBER EIGHT, OUR FOCUS TURNS TO RELIABILITY. 
          AND AS I PREVIOUSLY MENTIONED, WE GENERALLY SEE CHALLENGES IN THE WINTER MONTHS, OFTENTIMES DUE TO FREEZING PRECIPITATION, AS WE SAW DURING WINTER STORM LANDON, THAT OCCURRED IN FEBRUARY, BUT OVERALL, WE CONTINUE TO TRACK CONSISTENT WITH INDUSTRY TOP FIVE TOP CORE TILE METRICS. 
          HOWEVER, WE CONTINUE TO FOCUS UPON MAGIC VEGETATION MANAGEMENT AND FOCUS THEM ON POCKETS WHERE DISTRIBUTION PERFORMANCE HAS BEEN LOWER. 
          QUICK QUESTION ON THAT. 
          I, I THINK, UM, WE, WE HAD A COUPLE OF YEARS AGO A PRESENTATION, UH, THAT DESCRIBED, UM, UH, I, YOU KNOW, I MAY GET SOME OF THE LANGUAGE WRONG. 
          I MAY BE MISREMEMBERING, BUT, UH, THE, THE, THE, ESSENTIALLY IT WAS THAT WE HAD GOTTEN, UM, WHAT I WOULD CALL OUT OF, UH, ALIGNMENT WITH, UH, VEGETATION MANAGEMENT SCHEDULE AND THAT WE WERE PLAYING CATCH UP. 
          UM, AND, AND I'M WONDERING WHERE WE ARE IN THAT. 
          D DO WE FEEL THAT WE HAVE GOTTEN BACK, UM, ON TRACKS SUCH THAT WE HAVE SOMEBODY THAT'S GOING TO ANSWER THIS QUESTION? WE HAVE A GOOD, GREAT, THANKS, MARTY. 
          SO YEAH, ON THE VEGETATION MANAGEMENT, IF YOU'LL REMEMBER ABOUT A YEAR AGO, WE PRESENTED TO YOU A $87 MILLION CONTRACT TO DOUBLE THE VEGETATION MANAGEMENT THAT WAS FINALLY APPROVED IN JANUARY OF LAST YEAR. 
          THERE WAS APPROXIMATELY A SIX MONTH PERIOD FOR THE CONTRACTORS TO RAMP UP, WHICH WOULD PUT US INTO JULY. 
          THE PROBLEM WITH THAT, THAT WAS THE PHASE TWO, THE COVID. 
          SO THE LABOR WAS ALMOST NON-EXISTENT. 
          SO WE DID GET SOME AT THAT LAST QUARTER TO START, BUT WE ARE DOUBLING THE CIRCUITS THAT WE'RE DOING. 
          WE WERE WORKING ON THE TOP UNDER-PERFORMANCE CIRCUITS. 
          UH, WE'VE BEEN REALLY HITTING THE NORTHWEST AREA FOR THE GREAT HILLS WITH THE WILDFIRE RISKS THAT ARE OUT THERE. 
          I HAD A MEETING WITH COUNCIL MEMBER ALTAR PROBABLY TWO A MONTH AGO. 
          UH, THE CIRCUITS THAT SHE HAD THE TOP FIVE FROM LAST YEAR, THERE WAS ALSO ALMOST A 90% IMPROVEMENT ON THOSE LINES. 
          AFTER THE VEGETATION MANAGEMENT. 
          THE PROBLEM IS, IS, IS THIS WAS ALLOWED TO GO ON FOR A LONG TIMEFRAME. 
          IT WILL TAKE US FIVE TO SEVEN YEARS TO GET BACK ON THE NORMAL CYCLE, BUT WHAT THE NORMAL CYCLE WILL BE, WHATEVER, FIVE TO SEVEN YEARS, EACH CIRCUIT THAT NEEDS VEGETATION WILL BE TRIMMED, BUT WE'LL ALSO BE GOING IN, IN A MID CYCLE TRIM TO DO ALL THE FAST GROWTH. 
          SO WE, WE ARE WORKING IT, I'VE TALKED TO HOMEOWNERS AND I WISH I COULD DO IT FASTER. 
          THANK GUYS FOR LETTING US HAVE THE DOLLARS TO DO IT. 
          NOW, I JUST HAVE TO GET THE TIME TO GET IT. 
          WE ALSO GET HIT WITH OAK WILT, THE BIRD HABITAT. 
          SO THERE'S SOME OF THE AREAS THAT WE SHOOT INTO, THEN WE HAVE TO BACK OUT AND WE HAVE TO RE, UH, CONSTITUTE BACK IN THAT AREA. 
          BUT, BUT GREAT QUESTION. 
          WE ARE DOING IT THERE, DEFINITE IMPROVEMENT FROM LAST YEAR TO THIS YEAR ON THE CIRCUITS THAT WE DID DO ANYWHERE BETWEEN, LIKE I SAID, AN 80 TO 90% IMPROVEMENT ON JUST OUTAGES. 
          SO, GREAT QUESTION. 
          THAT'S GREAT. 
          THANK YOU FOR THAT REPORT RELATED TO THAT. 
          [00:45:01]
UH, ARE, ARE YOU FAMILIAR WITH THIS WEEKEND WHEN IT HIT RECORD HIGH, THERE WAS AN OUTAGE IN THE ONION CREEK. 
          YOU WANT ME TO SHOW YOU MY, UH, MY INTERVIEW WITH KX A N AH, I DIDN'T SEE THAT. 
          I DIDN'T SAY THAT I CAN EXPOUND UPON THAT IF YOU'D LIKE TO. 
          SO ON SATURDAY, WE DID HAVE TO DO AN EMERGENCY OUTAGE ON THIRTY FIVE HUNDRED AND EIGHTY EIGHT CUSTOMERS THAT WERE FED OUT OF THE HIGH CROSS SLAUGHTER LANE AREA. 
          AND WHAT HAD OCCURRED WAS THAT LINE SPECIFICALLY HAD GOTTEN SO HIGH ON THE LOAD THAT IF WE HAD NOT DONE THE EMERGENCY OUTAGE, IT WOULD HAVE JUST COMPOUNDED AND WENT INTO MULTIPLE OUTAGES TO INCLUDE EQUIPMENT DAMAGE. 
          THE ISSUE WITH THIS IS WE WORK ON ALL OF OUR TRANSMISSION STUFF IN THE WINTER AND THE FALL AND THE FALL AND THE SPRING. 
          WE HAVE A RETURN DATE OF MAY 15TH, WHICH ARE ERCOT DROP DEAD DATE TO BE OFF OF ALL TRANSMISSION LINES. 
          MY TEAM HAS ACTUALLY GOT THAT TO MAY 13TH, WHICH IS FRIDAY. 
          WE'RE PUTTING THE NEW SUBSTATION IN, IN BLUFF SPRINGS TO HELP WITH THAT LOADING. 
          BUT TO PUT THAT SUBSTATION IN MY CREWS HAD TWO LINES IN ONE TRANSFORMER OUT OF SLAUGHTER LANE, OUT OF COMMISSION FOR THAT WORK. 
          SO WHEN THAT LINE STARTED HEATING UP AND WE HAD TO DO THE EMERGENCY DROP ON IT, WE ACTUALLY CALLED MY GUYS IN. 
          WE RETURNED TO SERVICE ONE LINE THAT WE COULD PLUS THE TRANSFORMER TO GET THOSE CUSTOMERS PICKED BACK UP. 
          THE FIRST OUTAGE WAS AT 1538. 
          WE HAD EVERYBODY PICKED UP BY 1938, SO FOUR HOUR TIME PERIOD. 
          SO THE CREWS REALLY DID A GREAT JOB ON GETTING EVERYBODY RESTORED. 
          THE REASON EVERYBODY DIDN'T COME BACK AT ONE TIME IS JUST LIKE IN YOUR HOUSE, YOU CAN'T HAVE ALL THE LIGHTS ON AT ONE TIME. 
          IF WE'D HAVE JUST BROUGHT EVERYBODY BACK, IT JUST WOULD HAVE DUMPED EVERYBODY AGAIN. 
          SO WE HAD TO SECTIONALIZE. 
          SO WE HAD ABOUT 1400 ON THE FIRST POP, WHICH WAS ABOUT TWO HOURS AFTER OUTAGE. 
          THEN WE PICKED UP ABOUT ANOTHER THOUSAND, THEN THE REMAINING. 
          SO WE ARE WORKING AT NIGHT TO HAVE THAT TRANSFORMER AVAILABLE FOR LIKE TODAY. 
          SO MY CREWS ARE OUT THERE AGAIN TONIGHT. 
          WE'RE GOING TO CLEAR SLAUGHTER LANE TOMORROW NIGHT. 
          SO WE PULLED THAT UP FROM FRIDAY TO TWO TOMORROW NIGHT. 
          THAT WAY WE'VE GOT AVAILABILITY. 
          SO SLAUGHTER LANE WILL BE RETURNED TO NORMAL ALONG WITH HIGH CROSS FOR THE WEEKEND HEATS THAT ARE COMING IN THE NEW TRANSFORMER AT THE BLUFF SPRINGS. 
          THAT'S SUPPOSED TO BE ONLINE, I BELIEVE JUNE 10TH. 
          SO THAT WOULD JUST GIVE ADDITIONAL LOADING OPPORTUNITIES. 
          SO APOLOGIZE FOR THE CUSTOMERS THAT HAPPEN TO NOT WHAT WANT TO DO AN EMERGENCY OUTAGE IS ALWAYS LAST RESORT, BUT TO PREVENT THE SAFEGUARD, THE SYSTEM TO PREVENT OTHER CUSTOMERS FROM GOING, THAT'S WHAT HAPPENED ON THAT ONE, SIR, I MAY FOLLOW UP ON THAT. 
          UH, ALL OF WHICH IS ONE OF THE, ONE OF YOUR CUSTOMERS, UH, CO CONTACTED AND SAID, WELL, I JUST CAME BACK FROM HEB AND THE GROW, YOU KNOW, THE FROZEN THINGS IT DOES WHEN THERE IS AN OUTAGE OF THAT NATURE. 
          THERE'S NO REIMBURSEMENT, IS THERE? NO, SIR, BECAUSE IT IT'S, IT'S ACTIVE. 
          GOD, WE DON'T CONTROL THE HEAT. 
          WE CAN'T PLANT IT JUST LIKE WE DIDN'T STORM YOUR, YOUR STORE LANDRY. 
          UH, WE, UH, IT'S AN ACT OF GOD. 
          WE, WE DO THE BEST THAT WE CAN, BUT WE'RE HUMAN TOO. 
          AND, AND THE, YOU REFERENCED THE NEW SUBSTATION THAT'S GOING TO HELP OUT, UH, WAS THAT SUBSTATION BEING PUT IN BECAUSE OF THE, UH, GROWTH POPULATION GROWTH IN THAT AREA? YES, SIR. 
          WE HAVE A PLANNING THAT LOOKS AT ALL THE TRANSMISSION THAT'S COMING IN. 
          WHAT GROWTH IS THERE, WHAT GROWTH IS COMING IN INTO THE FUTURE. 
          AND WE KNEW THAT THEY NEEDED ADDITIONAL SUBSTATION AND TRANSMISSION LINES IN THAT AREA. 
          SO THAT SUBSTATION HAS BEEN PLANNED FOR MANY YEARS. 
          MY GROUP HAS BEEN WORKING ON A PRODUCT FOR THE LAST FIVE MONTHS, TRYING TO GET A CUT IN AND MEET THAT DEADLINE AND GETTING ALL THE TRANSMISSION BACK BY MAY 15TH, AND THEN HAVING IT READY FOR JUNE 10TH FOR AVAILABILITY. 
          SO THAT NEW SUBSTATION WILL BE HELP WITH THE CONTINUING INFLUX OF ABSOLUTELY. 
          SO WHAT HAD TO DO IS TO PLANNERS WILL LOOK AT IT, THEY'LL SHIFT SOME LOAD OFF OF HIGH, UH, HIGH CROSS AND ALSO SLAUGHTER AND MAKE IT THEIR TEMP, THEIR PERMANENT FEED, BUT THEN YOU'VE GOT THE AVAILABILITY TO FLEX BETWEEN THOSE THREE SUBSTATIONS AS LOAD INCREASES AS THEY GO THROUGH. 
          SO IT JUST GIVES US A LOT MORE FLEXIBILITY. 
          SO WE DON'T DO THIS TO A CUSTOMER AGAIN. 
          THANK YOU. 
          YES, SIR. 
          ANY OTHER QUESTIONS AND MARTY, DID I ANSWER YOUR QUESTION OF EDGE? YES. 
          THANK YOU. 
          ALL RIGHT. 
          THANK YOU. 
          YEAH, SURE. 
          THANKS. 
          HEY, UM, MR. JACKSON, THANK YOU SO MUCH FOR CHANGING THE FORMAT AND INCLUDING MULTIPLE YEARS. 
          SO WE SEE THE LONGTERM TREND. 
          APPRECIATE THAT. 
          UM, WHERE DO YOU THINK THE OPTIMAL POINT IS THAT THESE HORIZONTAL BARS ARE TOP CORTEL I GUESS, UM, WHEN WE GET THROUGH THE VEGETATION THAT YOU'VE GOTTEN INCREASED BUDGET FOR, AND WE'VE HAD IMPROVEMENTS FOR, UM, WHERE'S THE OPTIMAL POINT, DO WE WANT TO GET IN THE TOP 10%? WHERE'S THE SWEET SPOT SO THAT WE HAVE EVEN BETTER CUSTOMER SATISFACTION, FEWER OUTAGES, 
          [00:50:01]
FEWER DURATION OF OUTAGES, BUT YET, UM, YOU KNOW, DON'T, DON'T SPEND TOO MUCH MONEY ON IT. 
          IF THAT ISN'T THE RIGHT THING TO DO. 
          WHERE'S CAN YOU GIVE US SOME FEEL FOR WHERE ARE THE RIGHT OPTIMAL IS THAT IS A VERY INTERESTING EQUATION. 
          AND THAT'S REALLY WHAT THAT IS AN EQUATION. 
          OBVIOUSLY WE'D LIKE TO GET TO A HUNDRED PERCENT AVAILABILITY AT ALL TIMES, UH, TO DO THAT. 
          YOU WOULD HAVE TO HAVE A NETWORK SERVICE ON THE DISTRIBUTION SIDE, WHICH IS A TERRIBLY COST EXPENSIVE. 
          SO THAT'S ONE EXTREME. 
          UM, OBVIOUSLY OUR TRANSMISSION SYSTEM IS, UH, INTERCONNECTED IN THAT FASHION. 
          THE DISTRIBUTION SYSTEM IS NOT. 
          SO TO YOUR QUESTION IS WHAT IS THE OPTIMUM? WHAT IS THE SWEET SPOT? UH, THAT IS THE DISCUSSION THAT WE'RE GOING TO CONTINUE TO HAVE TO HAVE, UH, WITH OUR STAKEHOLDERS. 
          UM, AND WITH THOSE PEOPLE THAT SUCH AS YOURSELF THAT HAVE A VOICE NOW ON THE TRANSMISSION SIDE, THAT'S ACTUALLY RATE-BASED AND YOU GO TO THE PUC AND RECOVER ON THAT, RIGHT? IT'S DIFFERENT FROM THE DISTRIBUTION TO THE TRANSMISSION, RIGHT? UH, I WAS SPEAKING TO DESIGN, BUT YOU ARE CORRECT. 
          THE ERCOT SYSTEM ALLOWS FOR A T COST RECOVERY, UH, THAT DEALS WITH TRANSMISSION AND CAPITAL INVESTMENTS. 
          YOU'RE CORRECT, WHICH IS DIFFERENT THAN THE DISTRIBUTION SIDE, BUT NEVERTHELESS, YOUR RELIABILITY IS ALSO DEPENDENT UPON YOUR DISTRIBUTION PERFORMANCE. 
          UH, TO THE EXTENT YOU HAVE THE HIGHER DISTRIBUTION PERFORMANCE TO DELIVERY OF ELECTRONS, THE CUSTOMER'S UNINTERRUPTED, YOU, YOU, YOU START TO DRIVE TO A HUNDRED PERCENT AVAILABILITY. 
          AND THE QUESTION AGAIN, UH, BEFORE ALL OF US IS WHAT IS THAT SWEET SPOT AND HOW DO WE WANT TO ARRIVE AT IT? YEAH. 
          SO, I MEAN, JUST PERIODICALLY, CAN WE HAVE RT, CAN WE HAVE AN UPDATE ON THAT OR WHEN, WHEN THE CONVERSATIONS EVOLVE AND, AND, UH, HOW THEY'RE EVOLVING AND CAUSE IT'S PART CASHFLOW AS WELL AS TECHNOLOGY GROWTH, IT'S A, I'M SURE IT'S A VERY COMPLEX SITUATION, BUT, UM, IT WOULD BE GOOD TO SEE HOW WE MOVE FORWARD ON THAT TO EVEN MAKE IT BETTER. 
          I UNDERSTAND THAT. 
          AND THANK YOU FOR THAT QUESTION, BUT LET ME JUST CONCLUDE THAT THOUGHT WITH AUSTIN ENERGY IS IN THE UPPER TIERS OF INDUSTRY. 
          WE ARE IN THE TOP TIER OF INDUSTRY AND WE ARE DEFINITELY IN THE, UH, LEADING, UH, LEADING THE PACK IN MANY RESPECTS IN TERMS OF THE STATE OF TEXAS AS WELL. 
          DO WE HAVE A, UM, A STATED POLICY OF WHAT OUR GOAL IS FOR KATIE SADIE SAFETY? OUR STRATEGIC GOAL AS IT SITS NOW IS TO BE IN THE TOP CORE TILE OF INDUSTRY. 
          AND WE WERE JUST AWARDED AS MR. TOM PEERPOINT OR VICE-PRESIDENT OF FIELDS OF ENGINEERING AND TECHNICAL SERVICES REPORTED. 
          I BELIEVE IN THE LAST QUARTER, UH, RELIABILITY, UH, ONE, UH, JUST AWARDED US TOP CORE TILE AND INTEREST INDUSTRY IN TERMS OF KEY RELIABILITY METRICS. 
          AND WE WERE PLEASED TO GET THAT ACKNOWLEDGEMENT. 
          AND ONE OF THE THINGS THAT, UM, UH, TOM MENTIONED IS THAT WHILE WE, WE RECOGNIZE AND WE APPRECIATE THAT RECOGNITION, UH, IT IS OUR INTENT TO BE CONTINUOUSLY IMPROVING AND TO LOOK FOR OPPORTUNITIES TO GET CONTINUOUSLY BETTER. 
          SO IS IT FAIR TO SAY THAT OUR, OUR CURRENT METRIC IS TOP CORE TILE AS A MINIMUM? OUR CURRENT METRIC IS YES. 
          OKAY. 
          RECURRENT GOAL. 
          DAVE, DOES THAT, DOES THAT ANSWER YOUR QUESTION ABOUT, I GUESS, WHERE WE ARE CURRENTLY AT LEAST WHAT WE'RE STRIVING FOR? YEAH, I THINK THAT'S, I'LL TALK TO YOU. 
          MAYBE I'LL CALL SYDNEY UP LATER. 
          UM, HEY, AND WHEN, WHEN WILL THIS SEXUALIZATION TAKE PLACE, AS FAR AS THE UPDATES THAT WERE CONSIDERED POST TO URI, AND I REALIZED THOSE TAKE ENGINEERING TIME, AND THEN YOU HAVE TO ACTUALLY DEPLOY THEM. 
          WHEN DO YOU THINK ALL THOSE IDEAS THAT CAME OUT OF THE POST-MORTEM URI WILL BE DEPLOYED TO SEXUALIZE MORE OF THE DISTRIBUTION? UH, I WILL SAY THAT WE HAVE CONTINUED TO MAKE PROGRESS. 
          WE HAVE EVEN MADE PROGRESS SINCE A WINTER STORM FURY OF OVER TWO YEARS AGO, EXCUSE ME, A LITTLE OVER A YEAR AGO, ALMOST A YEAR AND A HALF AGO NOW, I SUPPOSE. 
          UH, WE HAVE CONTINUED TO MAKE PROGRESS. 
          WE HAVE HAD A FEW INCREMENTAL SECTIONALIZED ERS THAT HAVE BEEN PUT IN PLACE. 
          IT ISN'T AS FAST AND INSTANTANEOUS AS WE WOULD ALL LIKE, BUT WE HAVE MADE PROGRESS IF YOU WOULD LIKE WE CAN BRING A REPORT BACK TO HAVE A MORE DETAILED DISCUSSION ON THAT. 
          SURE. 
          I THINK FOLKS WOULD BE INTERESTED IN THAT, ON THAT NOTE THAT AS WELL. 
          THANK YOU. 
          THANK YOU. 
          GLADLY WELCOME. 
          SO, UH, CONTINUING ON, CAN WE MOVE TO SLIDE NUMBER 10? AND THIS IS AN EMPHASIS ON RENEWABLE AND CARBON-FREE GENERATION. 
          AND AGAIN, FROM A CARBON-FREE GENERATION STANDPOINT, WE REMAIN ON TARGET. 
          AND AS YOU LOOK GRANUALLY AT THE MONTH OF MARCH, UH, WE WERE APPROACHING A HUNDRED PERCENT CARBON-FREE 
          [00:55:02]
AS A PERCENTAGE OF LOAD, UH, FOR THAT MONTH, UH, MOVING TO SLIDE NUMBER 11. 
          UH, THIS IS, UH, A DISCUSSION ON NACADOCIOUS, UH, AS YOU CAN SEE, IT'S HISTORICAL PRODUCTION, AND AS YOU CAN ALSO SEE OVER SUCCESSIVE MONTH, OUR PRODUCTION HAS BEEN NOTABLE HERE. 
          WE WERE PRIMARILY INTERRUPTED BY PLANNED OUTAGES IN NOVEMBER AND DECEMBER OF LAST YEAR AND LOW MARKET CONDITIONS EXPERIENCED IN MARCH OF 22. 
          UH, IN ADDITION TO THAT, JUST TO CONTINUE THAT DISCUSSION THAT JOHN HELPED US WITH. 
          THANK YOU, JACK. 
          I SHOULD SAY, UM, JACK OUR, OUR POWER PRODUCTION, UM, LEADER. 
          WE'VE GOT ERICA  VP OF MARKET OPERATIONS AND RESOURCE PLANNING. 
          UH, ROBIN, IF YOU COULD PUT HER, UH, LIVE AND I WOULD ASK THAT IF YOU'VE GOT ANY CONTINUING QUESTIONS, UH, EITHER MYSELF OR ERICA CAN TAKE THOSE ERICA, ARE YOU ON THE LINE? YES, I AM. 
          UH, GOOD, UH, GOOD EVENING COMMISSIONERS. 
          UM, IF THERE'S ANY QUESTIONS WITH REGARDS TO NAC, I'M HAPPY TO ADDRESS THEM. 
          SURE. 
          SO I'M JUST INTERPRETING HI ERICA. 
          THANKS FOR EVERYTHING THAT, THAT 50 50 SPLIT IS. 
          IT SOUNDS LIKE YOU'RE TAKING 50% OF THE CAPACITY AND FORWARD PRICING AT LOCKING IN THE REVENUE IN A WAY THAT MAKES SURE THAT YOU MAKE MONEY. 
          AND THEN ONCE YOU HAVE THAT BOOKED, THEN THE REST YOU GO REAL TIME BECAUSE YOU KNOW, YOU'RE GOING TO BE OPERATING IN THE MONEY. 
          CAN I JUST DO IT JUST A POINT OF ORDER? ONE OF THE REAL CONCERNS HERE HAS TO DO WITH THE PROPRIETARY NATURE OF HOW WE OPERATE OUR FACILITIES IN A COMPETITIVE MARKET. 
          AND THAT IS A KEY, UH, DELINEATOR AND A POINT OF GOVERNANCE FOR THIS MEETING. 
          UH, AND WITH THAT INJECTION, UH, ERICA, UM, I'D ASK YOU TO PROCEED. 
          SURE. 
          UH, SO, UH, WITH REGARDS TO NACADOCIOUS, UM, DAVE, I THINK WHAT YOU'RE TALKING ABOUT, UH, WHEN YOU SAY 50 50, UM, IT REALLY, UH, IT REALLY DEPENDS ON, UH, THE, THE MONTH, WHETHER OR NOT NACADOCIOUS IS GOING TO COME ONLINE. 
          AND THAT HAS TO DO WITH THE FACT THAT AS YOU MENTIONED, DAVE, WE, THIS, THIS IS A UNIT THAT CANNOT BE CYCLED. 
          IT'S A UNIT THAT, UH, TAKES, UH, YOU KNOW, UH, CLOSE TO 48 HOURS. 
          WE'VE BEEN ABLE TO SHAVE DOWN THAT TIME TO, TO BRING ONLINE. 
          SO REALLY THE WAY NAC RUNS IS, IS IF WE'RE ABLE TO SELL IT IN, IN, IN, IN THE FORD MARKET. 
          UM, WE, UH, WE'LL TAKE A MINIMUM OF, SO TYPICALLY, YOU KNOW, WE, WE, WE COULD HEDGE UP TO THE HUNDRED, UH, WE CAN HEDGE THE LSL OR SOMEWHERE IN BETWEEN, AND WE WILL DO THAT. 
          UH, WE WILL, WE'LL MAKE THE DECISION ON HOW MUCH WE HAD FORWARD. 
          UM, IT DEPENDS ON THE MONTH, IT DEPENDS ON MARKET CONDITIONS. 
          IT DEPENDS ON HOW MANY OUTAGES WE'RE EXPECT EXPECTING IN THAT MONTH. 
          SO THEN WE CAN COME STRATEGICALLY, UH, HANDLE THAT ASSET IN THE PORTFOLIO, BUT WE HAVE TO DO AT LEAST ENOUGH TO BE ABLE TO BRING IT ONLINE. 
          AND THAT'S THE LSL, WHICH IS THE 50 MEGAWATTS. 
          IT USED TO BE 75 OR 70 IF Y'ALL REMEMBER OR RECALL. 
          UH, BUT NOW WE'VE GOTTEN IT DOWN TO 50. 
          SO THAT'S KIND OF THE DECISION MAKING PROCESS. 
          THAT'S KIND OF HOW WE MANAGE THAT. 
          UM, BUT, UM, I THINK THAT'S WHAT YOU'RE GETTING TO DAVE, IS THAT CORRECT? YEAH. 
          AND THAT'S FINE. 
          THAT WAS JUST LOGICAL. 
          ANYBODY COMPETENT IN THE INDUSTRY PROBABLY WOULD DO THE SAME THING. 
          AND I SOUNDS LIKE YOU'RE DOING A GREAT JOB. 
          CAN I ASK A MATH QUESTION? SURE. 
          UM, IF, IF MY MATH IS RIGHT, SO IF IT WERE RUNNING 24 HOURS A DAY, ALL A HUNDRED MEGAWATTS, WOULD IT BE ABOUT 75,000 MEGAWATT HOURS? AM I MORE OR LESS CORRECT? SO THIS IS IT'S ABOUT A 65, 60 6% CAPACITY FACTOR. 
          OKAY. 
          THAT'S WHAT I'M ASKING. 
          WHAT IS THAT CAPACITY? IT'S ABOUT SIX. 
          YEAH. 
          IT'S ABOUT, IT'S ESSENTIALLY OPERATING ON PEAK AND ABOUT TWO THIRDS OF THE TIME WHEN IT'S OPERATED, WHEN IT'S NOT DOWN, IT'S ABOUT IN THE, IN THE GRAPHS, IT'S ABOUT TWO THIRDS. 
          OKAY. 
          RIGHT. 
          SO CYRUS THINK ABOUT IT THIS WAY. 
          IT'LL GO DOWN TO ITSELF, SELL OVERNIGHT. 
          RIGHT. 
          GOT IT. 
          SO LSL OVERNIGHT. 
          AND THEN DURING THE DAY IT'S RUNNING FULL THROTTLE. 
          OKAY. 
          WELL IT, IT MAY OR MAY NOT RUN FULL THROTTLE. 
          UM, IT DEPENDS ON WHETHER IT'S BEEN HEDGED FOR FULLY OR IT'S BEEN HEDGED FORWARD LESS THAN THAT. 
          AND IF IT'S BEEN HEDGED FOR LESS THAN THAT, IT DEPENDS ON WHAT'S GOING ON IN THE MARKET TO SEE IF WE, UM, YOU KNOW, WE CAN, WE CAN HEDGE IT IN THE, IN, IN THE BALANCE OF THE WEEK. 
          [01:00:01]
UH, WE CAN, UM, YOU KNOW, WE CAN KEEP IT THERE FOR, UH, YOU KNOW, FOR, FOR, FOR, FOR, WE CAN'T REALLY DO SPIKES ON THIS BECAUSE UP TO THE TOP. 
          UM, BUT YOU KNOW, IF IT'S A, IF IT'S A REALLY, IF WE THINK THAT THERE'S, THERE'S GOING TO BE A REALLY STRONG, YOU KNOW, STRONG DAY, UH, THEN WE MAY HOLD ONTO IT FOR THAT. 
          SO IT REALLY DEPENDS ON HOW, UH, THE DESKS DECIDE TO OPERATE THAT UNIT BASED ON WHAT WE ALREADY HAVE IN THE PORTFOLIO AND WHAT IS ONLINE IN ERCOT AS WELL. 
          SO THEY MAKE THOSE DECISIONS ON HOW TO MANAGE THAT UNIT WHEN IT IS ONLINE, UH, DEPENDING ON THE CONDITIONS, UM, IN THE MARKET. 
          THANKS. 
          THANK YOU AGAIN. 
          UM, LET'S MOVE ON TO SLIDE NUMBER 12, WHERE WE'RE GOING TO SPEAK TO NEW RENEWABLE PROJECTS. 
          AND FOR THIS QUARTER, WE DO NOT BRING FORWARD ANY NEW RE RENEWABLE PROJECTS, BUT I WOULD REMIND YOU THAT IN PREVIOUS QUARTERS WE'VE AFFIRMED A MANY, MANY RENEWABLE PROJECTS I WILL BRING TO YOUR ATTENTION. 
          THE ARAGON SOLAR FACILITY THAT WENT LIVE IN 180 MEGAWATTS AND IN PRECEDING QUARTERS OVER THE LAST SEVERAL YEARS, WE HAVE BROUGHT MANY, MANY RENEWABLE PROJECTS FORWARD. 
          UH, ONE OF THE THINGS THAT THIS SLIDE IS INTENDING TO COMMUNICATE THAT THERE IS A CHALLENGING ENVIRONMENT FOR DEVELOPERS JUST SIMPLY DUE TO SUPPLY CHAIN, LABOR, SHORTAGES, AND PRICE ESCALATIONS. 
          AND UNTIL THESE MATTERS START TO RESOLVE, UH, THE ENVIRONMENT WE EXPECT TO CONTINUE TO BE CHALLENGING FOR RENEWABLE PROJECTS, AT LEAST, UH, IN THE LIGHT OR IN THE COMPARISON OF WHAT THE, THE RECENT FAVORABLE HISTORY, UH, HAS BEEN AGAIN, KNOWN NO RENEWABLE PPA IS PRESENT THIS QUARTER. 
          UH, YET WE ARE ALSO REVIEWING THE RESULTS ACTIVELY FOR A STORAGE RFP THAT JUST CLOSED. 
          CAN YOU REMIND US, UM, YOU GUYS NORMALLY DO A ANNUAL RFP FOR RENEWABLES JUST TO LOOK AT THE MARKET AND SEE IF THERE ARE GOOD PROJECTS OUT THERE. 
          WHAT IS THE TIMING OF THAT? OR DOES IT VARY EVERY YEAR? EXCUSE ME. 
          THIS IS ERICA PIERCE PARK AGAIN. 
          UM, SO WE TYPICALLY, UH, WE HAVE TRADITIONALLY GONE OUT EVERY YEAR WITH A SOLELY RENEWABLE RFP, WHAT WE'RE SEEING AT, UH, CYRUS THIS, THIS YEAR, PARTICULARLY, UM, FROM OUR LAST YEAR'S RENEWABLE RFP IS, UM, ALL OF THE THINGS THAT, UM, YOU KNOW, YOU HAVE HEARD AND READ IN, IN, IN, IN, UH, IN, IN THE PAPERS. 
          SO SUPPLY CHAIN ISSUES, LABOR ISSUES THAT THE TARIFFS THAT ARE IN, UH, YOU KNOW, THAT ARE IN THE COURTS RIGHT NOW, UM, WHAT EVEN INFLATION, ALL OF THESE THINGS ARE, UH, CAUSING, UH, THE RENEWABLE PROJECTS TO HAVE, YOU KNOW, SOME PRETTY STRONG, UPWARD PRICE PRESSURE. 
          WE SAW THAT LAST YEAR, UH, IN THE RFP THAT WE DID, THAT'S WHY NOTHING CAME FORWARD. 
          UM, WE'RE STILL SEEING THAT, UM, YOU KNOW, THAT THESE ISSUES, UH, IN, IN, IN OUR, YOU KNOW, IN THE MARKET WITH ASSET DEVELOPERS THAT WE SPEAK TO, SO WE'RE LOOKING TO FOCUS ON THE, UH, STORAGE RFP THIS YEAR AND NOT RELEASE A RENEWABLE RFP. 
          UM, WE'RE, YOU KNOW, W W EVEN UNSOLICITED UH, UH, OFFERS THAT WE'VE GOTTEN, WHICH WE KNOW, EVEN THOUGH THEY'RE UNSOLICITED, WE LOOK AT THEM, THEY HAVE TO GO THROUGH AN RFP PROCESS. 
          SO, UH, WE'RE SEEING THAT IT'S NOT GETTING ANY BETTER, IT'S GETTING WORSE. 
          SO, UH, INSTEAD OF GOING THROUGH THAT PROCESS AGAIN, UM, WE WOULD, AND BECAUSE WE BROUGHT ON SO MANY, UH, GOOD ASSETS IN THE LAW, YOU KNOW, IN THE 19 THROUGH 20 TIMEFRAME, UM, WE'RE GOING TO PASS IN 2022, UH, AND FOCUS ON THE STORAGE RFP. 
          UM, AND THAT REALLY JUST HAS TO DO WITH TRYING TO, YOU KNOW, USE OUR TIME WISELY, UH, THE RESOURCES WE HAVE WISELY, UH, NOT REALLY SEEING THAT THERE'S ANY CHANGE. 
          IN FACT, THINGS ARE GETTING WORSE WITH REGARDS TO WHERE THOSE ASSETS ARE. 
          WELL, I DON'T WANT TO GET INTO A BIG ARGUMENT, BUT, UM, COULD, COULD, COULD THERE BE ACTIONS THAT TAKE PLACE IN THE NEXT FEW MONTHS, YOU KNOW, WHETHER IT'S SOME OF THESE TARIFF ISSUES GET RESOLVED OR WITH SOME OF THE RELEASE OF, UM, INFRASTRUCTURE MONEY, UH, WHERE IT MIGHT MAKE SENSE, YOU KNOW, MAYBE NOT RIGHT NOW, BUT MORE TOWARDS THE END OF THE YEAR TO LOOK AT ANOTHER RFP, I WOULD JUST HOPE THAT WE CAN KEEP THAT CONVERSATION GOING. 
          WE REMEMBER. 
          WELL, ABSOLUTELY. 
          I MEAN, I'M SORRY TO INTERRUPT. 
          I WOULD JUST SAY, I MEAN, UH, SO WE ARE, WE'RE VERY MOTIVATED TO BE, HAVE OUR PULSE ON THE MARKET. 
          SO WHEN THERE ARE, UH, THERE IS GOOD PRICING AND GOOD ASSETS OUT THERE, WE WANT TO, WE WANT TO TAKE ADVANTAGE 
          [01:05:01]
OF THAT. 
          WE WANT TO KNOW, UH, WHAT THEY ARE BECAUSE WE ARE A GOOD OFF-TAKER, UH, DEVELOPERS WANT US ON THE OTHER SIDE OF THOSE CONTRACTS, UH, NATURAL GAS, UH, YOU KNOW, HAS GOTTEN AS HIGH AS $9 IN THE LAST COUPLE OF WEEKS. 
          UH, IT'S SITTING AT SEVEN, THE SEVENS RIGHT NOW. 
          UH, WHAT YOU'LL SEE IS, IS THAT, UH, THE PRICING FOR ALL THOSE ASSETS IS GOING TO BE IN THE SAME, IS GOING TO CHASE NATURAL GAS. 
          SO, YOU KNOW, WE ARE LOOKING, IT'S NOT JUST THE TARIFFS, IT'S, IT'S NOT, YOU KNOW, IT'S NOT JUST, YOU KNOW, THE INFLATIONARY PRESSURES, SO IT, IT'S ALSO NATURAL GAS. 
          SO WHAT WE'RE TRACKING THAT AS WELL, WHEN WE START TO SEE, UM, YOU KNOW, SOME OF THESE THINGS START TO, YOU KNOW, KIND OF CREATE SOME OPPORTUNITY, UH, WITH RENEWABLE, UH, PROJECTS, WE WILL BE RELEASING AN RFP. 
          AND IF IT, WE START TO SEE THAT IN THE FALL, WE ABSOLUTELY WILL RELEASE ONE. 
          AND, AND THE INFRASTRUCTURE I WAS JUST REFERRING THERE ARE, I THINK, AS, YOU KNOW, SOME SPECIFIC FUNDING STREAMS FOR RESEARCH INTO NEW THINGS LIKE GEOTHERMAL. 
          SO THERE MAY BE, THERE MAY BE SOME OPPORTUNITIES, YOU KNOW, COMING, NOT, NOT INITIALLY RIGHT NOW, BUT IN THE NEAR FUTURE THAT WE MIGHT BE ABLE TO TAKE ADVANTAGE OF, I WOULD THINK. 
          YEAH. 
          AND TO THAT POINT, YOU KNOW, UH, MICHAEL WEBER HAS HAD SEVERAL, UH, SYMPOSIUMS, I THINK IT IS. 
          AND HE INVITED ME TO SEVERAL OF THEM WHERE THEY'RE REALLY, YOU KNOW, FOCUSING ON GEOTHERMAL. 
          UH, AND ONE OF THE THINGS THAT WE'RE TRYING TO DO IS WHEN WE SEE OPPORTUNITIES LIKE THAT REALLY START TO, YOU KNOW, MAYBE BECOME COMPETITIVE THAT, YOU KNOW, WE'RE ABLE TO SOLICIT AN RFP, THAT'S SPECIFIC TO A CERTAIN TECHNOLOGY. 
          WE'D LIKE TO BE TECHNOLOGY AGNOSTIC, WE'RE LOOKING TO BE CARBON FREE, BUT IF THERE'S SOMETHING THAT IS ATTRACTIVE IN A CERTAIN AREA, THEN WE CAN KIND OF TARGET THAT. 
          SO, YOU KNOW, UM, YOU KNOW, WE'RE ALWAYS, YOU KNOW, UH, VERY INTERESTED IN, IN BEING ABLE TO DIVERSIFY OUR PORTFOLIO. 
          WE DON'T WANT TO KEEP, UH, ALL OF OUR EGGS IN ONE BASKET. 
          SO IF THERE IS A, IF THERE IS A CARBON FREE SOLUTION THAT, UH, YOU KNOW, IS SOMETHING THAT WE HAVEN'T ENTERTAINED YET, BUT IS COMPETITIVE AND, AND NOT JUST, UH, I'M NOT AN EARLY ADOPTER, UH, THEN THAN WE DEFINITELY ARE INTERESTED IN, IN, IN, IN PICKING A LOOK AT WHAT'S GOING ON IN, IN THAT, UH, PART OF THE ENERGY INDUSTRY. 
          THANKS. 
          OKAY. 
          WHILE WE'RE ON THIS SLIDE, CAN I ASK ANOTHER QUESTION? WHAT ARE THE KEY PROGRAMS AND PROJECTS DESIGNED TO INTEGRATE DISTRIBUTED ENERGY RESOURCES? WE'RE ALWAYS LOOKING FOR OPPORTUNITIES TO ENHANCE RESILIENCY, ESPECIALLY FROM A BEHIND THE METER STANDPOINT. 
          AND I KNOW ERIC AND HER TEAM ARE WORKING DILIGENTLY ON TOWARDS THAT END. 
          AND I'LL JUST TURN THE MIC OVER TO ERICA IF YOU WANT TO EXPAND ON THAT. 
          SURE. 
          SO SOME OF THE ITEMS W RIGHT ON THIS, UM, WE'RE TALKING ABOUT, SO RESILIENCY AS A SERVICE IS A PRO AS A, AS A PROJECT OR A PROGRAM THAT WE'RE WORKING ON, UH, WITH OUR, UH, UH, UH, BEHIND THE METER AND IN FRONT OF THE METER, UH, CUSTOMERS. 
          SO, UH, IT'S A WAY FOR US TO HAVE STEEL IN THE GROUND IN OUR SERVICE TERRITORY, PROVIDING RELIABILITY, RESILIENCY FOR OUR CUSTOMERS, BUT IT ALSO ALLOWS US TO BE ABLE TO HAVE AN ASSET THAT WE CAN USE, UH, FOR ANCILLARY SERVICES AND TO HEDGE OUR PORTFOLIO AS OUR, YOU KNOW, DECORATE OTHER ASSETS ARE STARTING TO GO AWAY OR TURN DOWN. 
          SO THAT'S ONE ITEM. 
          THE OTHER ITEM HERE IS ANY KIND OF COMMUNITY SCALE, UM, OR LOCAL, UH, RENEWABLE, LOCAL SOLAR, EVEN LOCAL STORAGE. 
          WE DON'T HAVE THAT YET, BUT WE'RE LOOKING AT THAT AS WELL. 
          UM, SO ANYTHING THAT CAN HELP US WITHIN OUR SERVICE TERRITORY STRENGTHEN, UH, THAT DISTRIBUTION SYSTEM, AND ALSO ALLOW US TO HAVE ASSETS THAT WE COULD USE IN OUR PORTFOLIO. 
          SO, UH, IT'S JUST, UH, IT'S A WAY FOR THE WHOLESALE MARKET TO WORK CLOSELY WITH OUR, WITH OUR DISTRIBUTION SYSTEM AND OUR CUSTOMERS WITHIN OUR SERVICE TERRITORY TO KIND OF HAVE A WIN-WIN, IF YOU WILL. 
          THANK YOU. 
          SO, CAN WE TRY IT ON THE AGENDA FOR SOMETIME IN THE NEXT FIVE OR SIX MONTHS, THE RESILIENCY AS A SERVICE? IT WASN'T THAT PART OF THE SENATE BILL THAT PASSED IN 2021? YES, SIR. 
          UH, YES. 
          UH, UH, THAT, THAT WAS A, UH, THE PAST IS, UH, I THINK OF IT AS IS, IS A KIND OF A SMALL PART OF, OF OUR RESILIENCY AS A SERVICE. 
          UH, BUT YOU'RE CORRECT. 
          IT'S WHAT THEY CALL IT, THE HEB BILL. 
          AND, UH, SO TH THIS IS A PART OF THAT. 
          YES. 
          IT WASN'T GONNA BE THAT EXPLICIT, BUT YEAH, BUT, UH, YOU SAID FIVE TO SIX MONTHS, I THINK, UH, I THINK THAT'S SOME GOOD TIMING. 
          UH, WE HAVE BEEN WORKING DILIGENTLY ON THIS PROGRAM. 
          UM, WE, UH, WE HAVE A COUPLE OF PILOTS THAT HAVE BEEN APPROVED INTERNALLY, UM, AND WE WOULD BE ABLE TO KIND OF BRING YOU WHERE THAT 
          [01:10:01]
PROGRESS IS. 
          UM, YOU KNOW, MAYBE IN THAT, UH, IN THE FALL, I GUESS, FIVE TO SIX MONTHS WOULD ROUGHLY BE THE FALL. 
          SO, UM, I THINK WE COULD GET THAT ON THE CALENDAR. 
          THAT WOULD BE GREAT. 
          NO PROBLEM. 
          SO WITH THAT PAUSE, UH, COMMISSION ONE, I CLOSE THIS OUT BY DISCUSSING TWO MORE ISSUES, IF WE CAN MOVE TO SLIDE 14, AND IT SPECIFICALLY FOCUSES ON DOWNTOWN PROJECTS, UH, IN THE DISTRICT COOLING AREA. 
          AND WE DO HAVE INCREMENTAL CUSTOMERS THAT WE ARE PLANNING AND WORKING WITH, UH, ON, UH, IN THE DOWNTOWN USING EXISTING CAPACITY THAT WE HAVE THERE. 
          UH, SO THAT IS A, AN EXPANSION OF, UM, UH, SERVICE, UH, IN THE DOWNTOWN AREA. 
          AND WE'VE ALSO JUST RECENTLY COMPLETED THE AUSTIN COMMUNITY COLLEGE HIGHLAND CAMPUS, UH, AS WELL. 
          SO THOSE ARE OUR NOTABLE, UH, PROGRESSIONS THERE. 
          AND THEN LASTLY, I'LL CLOSE WITH, AS WE MOVE TO SLIDE 16, UH, GRID RESILIENCE REMAINS A HIGH PRIORITY. 
          UH, WE CURRENTLY HAVE EMPHASIS UPON OUR TRANSMISSION STUDY. 
          UH, WE ARE WORKING ON OUR TRANSMISSION STUDY, ACTIVELY WORKING TO UNDERSTAND TRANSFER CAPABILITIES, TOPOLOGY, UH, LMP IMPACTS, UH, AND THE LIKE, AND ALL OF THAT IS, UH, DESIGNED AS, YOU KNOW, TO HELP US INFORM OUR GENERATION RESOURCE PLAN. 
          AND WITH THAT, I GUESS I COULD SAY A CHAIR, I COULD TAKE QUESTIONS, BUT, UH, I THINK WE'VE KIND OF ALREADY BEEN DOING THAT. 
          UH, YES. 
          THANK YOU VERY MUCH. 
          ANYBODY HAVE ANY FINAL QUESTIONS FOR MR. JACKSON? UM, WHEN YOU TALKED ABOUT DOWNTOWN, UM, I REMEMBER WE HAD DURING URI, SOME OF THE DOWNTOWN LIGHTS, THE BIG BUILDING STAY ON WHILE A LOT OF RESIDENTIAL GOT CUT OFF. 
          WHAT WAS THE, WHAT WAS THE FINAL SET OF ACTIONS TO HELP NEXT TIME? LET'S NOT HAVE THAT SITUATION AGAIN. 
          UM, VERY GOOD QUESTION. 
          PART OF OUR AFTER-ACTION REPORT DOES ADDRESS THAT, AND THAT IS INCLUDED IN OUR AFTER-ACTION REPORT. 
          A LOT OF THAT HAS TO DO WITH BETTER UNDERSTANDING IN TERMS OF DRILL AND PREPAREDNESS AROUND, UH, SOME OF OUR NETWORK, UH, FACILITIES DOWN, UH, DOWNTOWN BETTER, UH, COORDINATION WITH SOME OF THOSE KEY CUSTOMERS IN THE DOWNTOWN AREA. 
          UH, SOME OF THE THINGS WE'RE WORKING ON, UH, AND JUST TABLETOP EXERCISES IN TERMS OF PREPAREDNESS. 
          ALSO MAKING SURE THAT WE HAVE THE SAFETY, UH, COVERED WHERE THAT MIGHT BE APPLICABLE, UH, FROM PERHAPS AN ARC FLASH, UH, STANDARD. 
          UH, BUT THOSE ARE SOME OF THE KEY ISSUES. 
          AND AGAIN, THEY'RE COVERED IN OUR AFTER ACTION REPORT AND WE HAVE MADE SOME PROGRESSIONS ON THAT. 
          AND I DON'T KNOW IF ELTON YOU'D LIKE TO ADD ANYTHING IN THAT SPACE. 
          ALL RIGHT. 
          ANY FURTHER QUESTIONS? VERY, VERY QUICK, VERY QUICK QUESTION. 
          UM, TRANSMISSION SYSTEM OF THE FUTURE PHASE THREE TRANSMISSION SYSTEM ASSESSMENT QUARTER FOR 2023, IS THAT A CHANGE OR DID WE ALWAYS EXPECT, IT WOULD TAKE UNTIL 20, 23 TO GET PHASE THREE DONE? UH, I THINK IT HAS BEEN PROGRESSIVELY PUSHED OUT AS WE'VE HAD MORE DISCUSSIONS AND WE'VE BEEN HAGGLED TO HAVE MORE INFORMATION IN TERMS OF, UH, THE, UH, TIMELINE THAT IS MORE REASONABLE. 
          A LOT OF THOSE INITIAL, UH, DATES WERE, WERE BASED ON A PROJECT PLAN THAT HAD NOT BEEN INFORMED BY DETAILED DISCUSSIONS WITH THE SELECTED VENDOR BANKS. 
          ALL RIGHT. 
          WELL, THANK YOU VERY MUCH FOR THAT REPORT, MR. JACKSON, APPRECIATE IT. 
          [10. Update from Budget and Audit Workgroup (Sponsors: Chapman; Hopkins) ]
OKAY. 
          MOVING ON TO, UH, ITEMS FROM COMMISSIONERS, WE HAVE ITEM NUMBER 10, AN UPDATE FROM THE BUDGET AND AUDIT WORKING GROUP. 
          UM, AND I DID WANT TO JUST, UH, TAKE THIS OPPORTUNITY QUICKLY BEFORE, UM, MR. CHAPMAN, WE HEAR FROM YOU, UH, JUST TO REMIND FOLKS AGAIN, OF THE I'M CALLING IMPORTANT DATES WITH REGARD TO THE BUDGET. 
          UM, SO WE, UH, THIS FRIDAY, MAY 13TH, AUSTIN ENERGY WILL BE SUBMITTING THEIR PROPOSED BUDGET TO THE, UH, CITY MANAGER. 
          THEN WE HAVE OUR JUNE, WE HAVE OUR JUNE, YOU SEE MEETING ON THE 13TH, THEN WE HAVE OUR JULY, YOU SEE MEETING ON THE 11TH. 
          SO JULY 11TH AND THEN CITY, UH, THE CITY MANAGER PRESENTS THE BUDGET TO COUNCIL ON JULY 15TH. 
          SO THAT MEANS, AND THIS IS AGAIN, IF YOU'LL REMEMBER, UM, FROM OUR MEETING LAST MONTH, UH, THE CITY MANAGER DOES NOT ALLOW, UM, THE BUDGETS TO GO TO THE BOARDS AND COMMISSIONS, 
          [01:15:02]
UH, UNTIL AFTER IT'S BEEN PRESENTED TO COUNCIL. 
          SO THAT IS HAPPENING. 
          THE CITY MANAGER PRESENTS THE BUDGET TO COUNCIL ON JULY 15TH. 
          AND THEN OUR NEXT MEETING IS AUGUST 8TH, UH, WHICH IS WHEN WE WILL BE PRESENTED WITH THE BUDGET THAT WAS JUST PRESENTED TO COUNCIL ON THE, YOU KNOW, THREE WEEKS BEFORE OR SO. 
          UH, AND, AND IT WILL BE AT THAT SAME MEETING. 
          SO THE AUGUST 8TH MEETING THAT WE ARE, WE ARE ASKED TO, UH, RECOMMEND THE BUDGET TO COUNCIL. 
          SO IN OTHER WORDS, THERE WILL BE ONLY THAT ONE MEETING TO DISCUSS AND RECOMMEND APPROVAL OR NOT, UH, OF THAT PROPOSED BUDGET. 
          SO WITH THAT IN MIND, OH, AND THEN THE FINAL DATE, UM, IS THE CITY COUNCIL BUDGET HEARINGS ARE ON AUGUST 17TH THROUGH 19TH. 
          AND SO AGAIN, THOSE ARE, THOSE ARE AVAILABLE FOR PUBLIC COMMENT AND WE CAN PARTICIPATE IN ANY, IN ANY WAY THAT YOU'D LIKE TO. 
          UM, BUT SO JUST KEEPING THOSE DATES IN MIND AS WE, AS WE PROGRESS. 
          I THINK IF YOU ARE INTERESTED IN HAVING ADDITIONAL, YOU KNOW, MORE DETAILED CONVERSATIONS AHEAD OF THAT AUGUST 8TH MEETING, YOU SHOULD BE TALKING TO COMMISSIONER CHAPMAN ABOUT THE BUDGET WORKING GROUP AND, UM, WORKING WITH AUSTIN ENERGY STAFF AHEAD OF THAT MEETING TO HOPEFULLY GET THOSE QUESTIONS ANSWERED. 
          OKAY, THANK YOU. 
          GO AHEAD, MR. CHAPMAN. 
          OH, EXCUSE ME. 
          WE COVERED A LOT. 
          AND, UH, IN OUR ORGANIZATION, WHAT WOULD WE DEEMED AN ORGANIZATIONAL MEETING AND, UH, ALL OF WHICH IS I WANT TO THANK, UH, COMMISSIONER RAY, COMMISSIONER PROSEAL AND COMMISSIONER JONKER, UH, WHO WERE ALL, UH, WENT THROUGH THE TRAFFIC AND MADE IT, MADE IT HERE FOR THE MEETING. 
          I'VE GOT TO, UH, PASS OUT, PASS OUT. 
          AND I TRIED TO SEND ELECTRONICALLY, UH, TO OUR FELLOW COMMISSIONERS, UH, W UH, KIND OF WHAT WE DISCUSSED IS THERE A WAY THAT THIS CAN BE DISPLAYED ROBIN? UM, I'M NOT QUITE SURE I CAN GET IT UP THAT QUICKLY. 
          I DON'T HAVE IT ELECTRONICALLY. 
          LET ME SEE IF THERE'S SOMETHING WE CAN DO. 
          OH, I CAN FORWARD IT TO YOU. 
          ROBYN. 
          CAN WE START CHAPMAN? IF YOU COULD EMAIL IT TO ME, THEN I CAN TRY AND GET IT UP. 
          OH, LET ME SEE ALL OF ALL OF WHICH IS WHAT I SENDING YOU AS A DRAFT. 
          IT'S NOT WHAT WE IS CLOSE, BUT NOT COMPLETELY WHAT WE SENT OUT. 
          MR. CHAPMAN. 
          I'VE GOT THE EMAIL YOU CITE THAT I COULD FORWARD IF YOU COULD DO THAT. 
          OKAY. 
          YEAH, I JUST SAID TO ROBIN. 
          OKAY. 
          OKAY. 
          UH, WITH THAT, WITH THAT SAID, UH, I, I, WE, FIRST OF ALL, DEVELOP A PURPOSE AND I ASKED MY FELLOW COMMISSIONERS TO JUMP IN, JUMP IN AT ANY TIME, UH, AND THE PURPOSE TO REVIEW AUSTIN ENERGY, FINANCIAL STATEMENTS, INCLUDING BUDGETS, AND SPEND A CHURCH AUDITS AND TO DEVELOP RECOMMENDATIONS TO THE AUC AND CITY COUNCIL, UH, THAT BEING THE PURPOSE OF THE WORK GROUP. 
          AGAIN, THIS WAS AN ORGANIZATIONAL MEETING. 
          SECONDLY, A MEETING SCHEDULE, THE WORK GROUP WAS ESTABLISHED MEETING TIMES IN CONJUNCTION WITH SCHEDULED MEETINGS OF ELECTRIC UTILITY COMMISSION. 
          UH, THANK YOU, COMMISSIONER HOPKINS OF REMIND, REMINDING ALL OF US OF THE BUDGET PROCESS, UH, AND, UH, ALL, ALL OF WHICH IS WE HAVE VERY, WE'RE GOING TO BE VERY BUSY. 
          UH, ANY QUESTION, ANY QUESTIONS ON THOSE TWO ITEMS? THIRD, THIRD IS, UH, IS WE MADE TWO RECOMMENDATIONS IN TWO AREAS OF STUDY, TWO AREAS OF STUDY, THE FIRST RECOMMENDATION, FIRST RECOMMENDATION, UH, UH, DEALS WITH, UH, GETTING A CROSS SECTION OF RESIDENTIAL CUSTOMER INPUT. 
          UH, THERE ARE, THERE, THERE ARE MEETING WITH RESPECT TO ANY INCREASE IN RIGHTS. 
          THERE HAVE BEEN A NUMBER OF INFORMATIONAL MEETINGS, UH, REGARD 
          [01:20:01]
REGARDING THE, UH, RIGHT RATE INCREASE AND WHAT, AND, UH, AS WELL AS, AS WELL AS, UH, RELATED MATTERS PERTAINING TO THAT, UH, ALL OF WHICH IS IT'S NOT OUR, IT'S NOT OUR ROLE AS WE DISCUSSED TO INTERVENE IN THE RIGHT CASE. 
          THAT'S NOT THE UCS RESPONSIBILITY, IT'S NOT OUR CHARGE. 
          UH, HOWEVER, UH, INSTEAD WE HAVE, THE PEOPLE WILL SHOW UP AND TESTIFY AS WE EXPECT EITHER HERE, CITY COUNCIL, BOTH. 
          WE DON'T HAVE A CROSS SECTION OF CO OF CONSUMERS, UH, TELLING US WHAT THE PRIORITY PRIORITIES ARE. 
          OTHER IN THE PAST WHEN DEREGULATION WAS DONE IN EVERY SERVICE AREA, ACROSS THE STATE, UH, AN INVESTOR ON UTILITIES, UH, THERE WAS A PROCESS CALLED THE DELIBERATE DELIBERATIVE POLL CUSTOMERS CUT CUSTOMERS. 
          WE'RE ACROSS SECTION WE'RE ASKED QUESTIONS WERE QUESTIONS. 
          SO NOW I KIND OF GUESSING THE QUESTIONS WOULD BE A RELIGHT, FOR EXAMPLE, CUSTOMER SERVICE FEE, UH, QUESTIONS REGARDING ENVIRONMENT QUESTIONS, REGARD REGARDING, UH, RESPONSIBILITY TO PAY FOR LOW-INCOME LOW-INCOME PROGRAMS. UH, WHAT CAME OUT OF THAT WAS AN EYE-OPENER FOR THE UTILITY EXECUTIVES LIKE HOUSTON LIGHT AND POWER AS IT WAS, AS THEY WATCHED THE PROCESS. 
          WE'RE NOT, THAT WAS, UH, THAT WAS AIR, THAT TYPE OF, UH, POLLING WAS DONE ACROSS STATE. 
          SO THE FIRST, UH, RECOMMENDED RECOMMENDATION THAT WE BRING IS SIMPLY INSTEAD OF JUST WHO SHOWS UP AT A PARTICULAR CITY COUNCIL MEETING OR EBC MEETING, AND IS TO GET A CROSS SECTION OF THAT AUSTIN ENERGY, UH, UH, WORK WHILE I READ IT TO ENSURE THAT CITY COUNCIL RECEIVES A BROAD CROSS SECTION OF INPUT FROM RESIDENTIAL CUSTOMERS, THE AUC WITH SUPPORT FROM AUSTIN ENERGY CONDUCT, A DELIBERATIVE CUSTOMER POLL PRIOR TO THE AUC AND CITY COUNCIL REVIEW OF CHANGES PROPOSED BY THE INDEPENDENT HEARING OFFICER, ANOTHER WORDS, UH, THIS GROUP, THIS GROUP THAT EUC THE EUC, AND WE WOULD WORK, WE WOULD WORK VERY CLOSELY WITH THE PERSON SELECTED TO DO THE POLL, UH, PROPOSE QUESTIONS TO A CROSS SECTION OF CUSTOMERS AND PROVIDE THAT DATA TO THE FOYER SAY, OF COURSE, BUT, UH, TO CITY COUNCIL THAT'S RECOMMENDATION ONE, SHOULD WE, SHOULD WE, UH, CONSIDER THAT, UH, CHAIR HOPKINS, UH, DISCUSS THAT BEFORE MOVING TO THE OTHER THREE, THREE ITEMS OF WHICH TWO ARE STUDIES? JUST GIVE ME ONE SECOND. 
          I'M TRYING TO PULL UP OUR, UH, MY COMPUTER LOCKED. 
          UH, I'M TRYING TO FIND OUT IF WE ARE POSTED FOR ACTION ON THIS ITEM, OR IF IT WAS JUST FOR DISCUSSION, UM, POSTED FOR ACTION. 
          OKAY. 
          THANKS. 
          UM, OKAY. 
          SO, BECAUSE WE'RE NOT POSTED FOR ACTION, UH, WE CAN'T ACTUALLY VOTE ON, UH, APPROVAL OF THESE ITEMS, BUT WE CAN CERTAINLY HAVE DISCUSSION ABOUT THEM. 
          UM, SO I, I THINK IT'S FINE INAPPROPRIATE TO, UH, HA HAVE THAT DISCUSSION. 
          WE CAN TAKE THEM ONE AT A TIME. 
          UM, THIS FIRST ITEM, IS THERE, UH, ANYBODY THAT WOULD LIKE TO, UM, YOU KNOW, UH, HAVING ANY COMMENTS ON THE FIRST ITEM HERE, I PERSONALLY LIKED THE IDEA. 
          I DO THINK GIVING IT A MONTH TO FINAGLE THE LANGUAGE AND THINK ABOUT ITS IMPLICATIONS AND ALSO WHAT ANY, UH, IF WE HAVE ANY SENSE OF WHAT, WHAT IT MIGHT COST WOULD BE IMPORTANT TO DO A DELIBERATIVE POLL, BUT I THINK IT WOULD BE USEFUL TO BOTH OURSELVES AND CITY COUNCIL IN TERMS OF ANY, UM, YOU KNOW, WITH AN EXPECTED RATE INCREASE. 
          I THINK IT WOULD BE A USEFUL EXERCISE, BUT I, I ACTUALLY THINK IT'S A GOOD IDEA TO WAIT A MONTH AND NOODLE ON IT SOME MORE, SIR, CERTAINLY. 
          AND, AND I WOULD EXPECT, UH, ON OTHER WORDS, UH, 
          [01:25:01]
THE STAFF AT AUSTIN ENERGY ARE GOING TO BE INTIMATELY INVOLVED IN AND HELPING US IDENTIFY THE PERSON OR ENTITY THAT DOES THAT DOES THE POLE. 
          WE, WE, AS THE WORK GROUP, I, I PRESUME WOULD BE, UH, HELP WORKING WITH THE CONTRACTOR TO DEVELOP THE TYPES OF QUESTIONS THAT, THAT, THAT WOULD BE, THAT WOULD BE ASKED. 
          SO IT'S THAT, THAT'S THE, THAT'S THE INTENT HERE? UH, DO FELLOW FELLOW COMMISSIONERS, ANY, ANY ADDITIONAL THOUGHTS? I THINK, UM, UM, UH, OBVIOUSLY JUST INITIAL, INITIAL REACTIONS. 
          SO, UH, YOU KNOW, LIKE THE IDEA, JUST LIKE, UM, COMMISSIONER REED SAID A LITTLE CONCERNED ABOUT TIMING, UM, AND BECAUSE I, I, I OBVIOUSLY THERE WILL BE COSTS ASSOCIATED WITH DOING SOMETHING LIKE THAT AND THEN, UM, YOU KNOW, TO ENGAGE A, A CONTRACTOR, UM, AND TO DO THAT PROPERLY, I SUSPECT WOULD, IS NOT GONNA, IT'S NOT GOING TO BE SOMETHING THAT WE CAN JUST TURN AROUND AND 30 DAYS OR SOMETHING. 
          UM, AND, UH, UH, SO I, I THINK, UM, GIVEN THE TIMING OF THE RATE, UH, REVIEW, UM, UM, I'M NOT SURE, I GUESS I'D NEED TO SEE HOW, HOW THE TIMING WOULD WORK IF IT COULD WORK. 
          UM, AND THEN, AND THEN ALSO, UH, UH, AN IDEA ABOUT WHAT THAT WOULD COST AND WHETHER, UM, THAT'S SOMETHING THAT THEY, YOU KNOW, OBVIOUSLY I THINK THE WAY THAT OUR, OUR ORGANIZATION WORKS IS WE CAN AT MOST, UH, MAKE A RECOMMENDATION TO COUNCIL, UM, ABOUT, UH, WHAT WE RECOMMEND THAT THEY DIRECT, YOU KNOW, AUSTIN ENERGY TO DO, FOR EXAMPLE. 
          UM, SO, SO I, I'M NOT SURE THAT WE HAVE THE, UH, POWER OR AUTHORITY TO, UM, YOU KNOW, TELL AUSTIN ENERGY TO ENTER INTO, UH, THAT TYPE OF, UM, UH, ARRANGEMENT. 
          UH, BUT, BUT, UM, WE COULD, LIKE, LIKE I SAID, I THINK WE COULD MAKE A RECOMMENDATION TO COUNCIL THAT, THAT THIS BE DONE. 
          UM, AND SO THOSE ARE JUST SOME INITIAL THOUGHTS THAT I HAVE ABOUT, ABOUT THAT. 
          I THINK IN TERMS OF TIMING, I AGREE IT CAN'T HAPPEN IMMEDIATELY, BUT IF WE CAN GO THROUGH THAT EXTRA STEP OF GETTING COUNCILS, UH, MAKING A RECOMMENDATION AND SEE WHAT COUNCIL SAYS ABOUT IT, UM, I, AS I UNDERSTAND, BASED ON OUR DISCUSSION, THIS PROPOSAL, IT WOULD BE TO, UM, UH, TAKE THE INFORMATION, UM, AND TAKE IT BACK TO THE, UH, CITY COUNCIL BEFORE THEY REVIEW THE RIGHT CHANGE PROPOSAL FROM THE INDEPENDENT HEARING OFFICER, WHICH HAPPENS AT THE, UH, WELL, THE RECOMMENDATION COMES OUT THE END OF AUGUST AND THE COUNCIL WORK SESSIONS, OR LATE OCTOBER EARLY NOVEMBER. 
          SO WE'VE GOT SEVERAL MONTHS TO WORK ON THAT. 
          OKAY. 
          I THINK IT'S JUST A MATTER OF COMING UP WITH EXACT LANGUAGE AND SEEING IF WE CAN GET A CONSENSUS FROM THE EUC TO THEN MAKE A RECOMMENDATION TO THE COUNCIL. 
          OKAY, EXACTLY. 
          THAT, THAT WAS CERTAINLY WHEN I PUT THIS CON GRAFTED, THIS IDEA THAT IS, THIS IS CONCURRENT. 
          THIS IS NOT PART OF THE, I KEEP CALLING IT RIGHT, RIGHT. 
          INCREASE. 
          AND W LAW, I SHOULD USE THE POLITICAL CORRECT TERM RIGHT REVIEW THERE GO RIGHT REVIEW. 
          I KEEP WANTING TO CALL IT A RATE CASE, BUT IT DOESN'T THAT EITHER. 
          SO, UM, OKAY. 
          NUM NUM UH, UH, LET ME SKIP TO NUMBER THREE, SIMPLY BECAUSE WE TALKED ABOUT THE AGENDA FUTURE AGENDA, AND NOT AS SIMPLY THAT THEY, UH, EDU AUC AGENDAS INCLUDE REGULAR UPDATES, UH, FROM THE INDEPENDENT CONSUMER ADVOCATE. 
          UM, AND THAT'S JUST A MATTER OF PUTTING IT ON THE AGENDA AND ASKING THE, UH, CONSUMER ADVOCATE, IF THEY'RE AVAILABLE AND, AND THE, UH, REMIND ME THE INDEPENDENT CONSUMER ADVOCATE, THAT'S THE, UM, IN THE, FOR THE RATE REVIEW, THE INDEPENDENT OF LIKE ESSENTIALLY OPEX ROLE IN THIS. 
          UM, OKAY. 
          YEAH, JUST PUT IT AT, YOU KNOW, SO, SO WE'RE KEPT UP IN THIS SHORT, SHORT PERIOD NEXT THREE OR FOUR MONTHS, UH, THREE MONTHS, I GUESS, UH, THE, 
          [01:30:02]
UH, NEXT, UH, NOT, UH, I WAS SKIPPED TO, UH, UH, ALSO ALSO AS AN IT ALSO RELATED TO THAT, AND, AND COMMISSIONER REG CAN SPEAK TO THIS IS, IS THAT PART OF THIS IS NOT ON YOUR HANDOUT. 
          UH, BUT RATHER THAT AS PART OF THE, UH, THAT THERE BE AS PART THAT THE, UH, COMMUNITY BENEFIT CHARGE, UH, BE REVIEWED, REVIEWED, YEAH. 
          SPECIFICALLY IN, IN THE RATE REVIEW, UM, AND THE RULES FOR THE RATE REVIEW OF MY CO IS THAT THE RIGHT TERMINOLOGY, THE RATE REVIEW, UM, THEY SPECIFICALLY SAID, UH, THEY ARE NOT THE, THE COMMUNITY BENEFIT CHARGE, WHICH REALLY HAS THREE COMPONENTS, INCLUDING THE, YOU KNOW, THE COMMUNITY, THE CAP PROGRAMS, THOSE, UH, YOU KNOW, THE, THE DISCOUNTS, THE, UM, THE STREET LIGHTING AND THE ENERGY EFFICIENCY PROGRAMS, WHICH ARE, YOU KNOW, OF GREAT IMPORTANCE TO THIS, UH, COMMITTEE, THAT THOSE ARE NOT BEING TOUCHED IN THE RATE REVIEW, RIGHT. 
          THEY'RE NOT, THEY'RE NOT CONSIDERING THAT AS PART OF THE RE AS PART OF THE BASE RATE REVIEW. 
          SO GIVEN THAT'S AN IMPORTANT PART OF THE BUDGET, UH, WE THOUGHT IT'D BE, IT WOULD BE IMPORTANT FOR US TO REVIEW, UH, THOSE PROGRAMS AS PART OF THE ANNUAL BUDGET, WHENEVER THAT WHENEVER THE APPROPRIATE TIME IS, UM, AND BE ABLE TO MAKE ANY RECOMMENDATIONS ON, ON THOSE, YOU KNOW, LEVELS OF FUNDING THAT COME OUT OF THOSE, UH, FEES. 
          I DON'T KNOW IF THAT MADE SENSE TO YOU, BUT IN OTHER WORDS, THERE, THOSE ARE NOT PART OF THE RATE REVIEW THEY'RE BEING, THERE WERE SPECIFICALLY JOB. 
          WE'RE NOT LOOKING AT THAT BECAUSE I THINK THEY'RE NOT MAKING CHANGES, BUT WE, AND LOOKING AT THE BUDGET SHOULD LOOK AT THAT. 
          UM, IN TERMS OF, YOU KNOW, HOW, HOW MUCH ARE THEY GOING TO SPEND ON A DISCOUNT PROGRAMS AND THE ENERGY EFFICIENCY AND THE STREET LIGHTING. 
          OKAY. 
          VERY GOOD. 
          AND, UH, UH, WAS IT, IS IT ITEM NUMBER TWO? DID WE SKIP YES. 
          YES. 
          WE SKIPPED OVER ITEM ITEM TWO, BECAUSE WE W W WE ALL HAVE, WHICH IS WE FINE TUNED ITEM TWO. 
          UH, AND, AND ALL OF WHICH IS, UH, IT'S REALLY, UH, WHAT WE'RE ASKED REQUESTING, UH, IS A STUDY AS PART OF, AS PART OF THE PROCESS OF ADOPTING, RIGHT. 
          UH, ANY CHANGE OF RIGHTS. 
          UH, WE, FOR THOSE THAT HAVE REVIEWED THE RATE REVIEW PACKAGE, UH, IT INCLUDES AN S MORE THAN DOUBLE THE CUSTOMER SERVICE FEE TO $25. 
          IT, UH, THE RIGHT REVIEW PACKAGE ALSO, UH, CLEARLY SHOWS THAT PAPERWORK CONSERVING ENERGY, UH, WHERE THEY CAN, THOSE WHO CAN THEY'RE PUTTING IN INSULATION BUILDERS ARE DOING A BETTER JOB, A BETTER JOB, UH, AND ALL OF WHICH IS, UH, INNER ENERGY CONSUMPTION. 
          RESIDENTIAL CONSUMPTION HAS BEEN FAIRLY FLAT AND NOT ENCOUNTERED GROWTH. 
          WHAT WE HAVE SEEN, WHAT WE HAVE SEEN THOUGH, IS A HUGE INCREASE IN POPULATION GROWTH AND POPULATION. 
          UH, WE HAVE, UH, NEW HOMES. 
          WE HAVE ENTIRE NEW SUBDIVISIONS THAT HAVE BEEN BUILT, AND THAT'S CONTINUING, WE HAVE COMMERCIAL, NEW COMMERCIAL BUILDINGS, UH, GOING UP RIGHT AND LEFT. 
          UH, WHAT WE'RE RECOMMENDING THE WORK GROUP, UH, IS RECOMMENDING IS THAT AS PART OF THE RIGHT REVIEW, THAT THE PEOPLE WHO ARE RESPONSIBLE AS WE'VE HEARD, AS WE HEARD TONIGHT, UH, WITH THE SUB STATE, WITH THE NEW SUBSTATION OR WITH OTHER NEW CONSTRUCTION GOING ON, AND IS THAT WE ARE BUILDING A DISTRIBUTION SYSTEM FOR THE FUTURE. 
          WE ARE BUILDING A DISTRIBUTION SYSTEM THAT IS TO TAKE INTO ACCOUNT, UH, PEOPLE WHO ARE, WHO ARE IN ESSENCE HAVE MOVED HERE, UH, FOR MANY REASONS, FOR THOSE OF US WHO HAVE LIVED HERE FOR A BIT, WE HAVE THE SAME ELECTRIC METERS. 
          WE HAVE THE SAME POLES. 
          WE HAVE THIS, WE HAVE OUTAGES SOMETIMES. 
          UH, BUT ALL OF WHICH IS THE DISTRIBUTION NETWORK, WHICH WE WANT TO TAKE CARE OF. 
          UH, THE QUESTION IS, 
          [01:35:01]
ARE THE BUILDERS, WE KNOW THEY'RE PAYING A COURSE FOR THE UNDERGROUND WIRING IN THEIR SUBDIVISION, OR ARE TO RUN A WIRE FROM A POLE, BUT THE QUESTION, AND THAT IS REALLY A STUDY. 
          WHAT W WHAT WE'RE REFERRING TO AS A STUDY ITEM, AS PART OF THE RIGHT REVIEW OF WHETHER THE BUILDING FEES, THE BUILDER FEES, THE DEVELOPMENT FEES ARE REALLY COVERING THE COST, TRULY COVERING THE COST OF THE GENERATION, UH, EXCUSE ME, OF THE DISTRIBUTION NETWORK, UH, CURRENT AND FUTURE. 
          AND THEREFORE I TURN IT OVER TO FELLOW WORK GROUP MEMBERS TO COMMENT. 
          DID I CAPTURE THAT CORRECTLY? MY UNDERSTANDING WAS THAT, UM, TO SAY PERHAPS SLIGHTLY DIFFERENTLY, IS THAT, DO YOU INCREASE THE CUSTOMER CHARGE OR DO YOU CREATE, IS THERE ANOTHER FEE STRUCTURE TO, UM, LET THE DEVELOPERS AND THE INCOMING NEW CUSTOMERS, UH, PICK UP THAT COST INSTEAD OF SPREADING IT ACROSS ALL, UH, RESIDENTIAL CUSTOMERS, FOR INSTANCE, IT'S A NEW IDEA, NEW CONCEPT. 
          YES. 
          YEAH. 
          AND I WOULD SAY, I THINK IT'S A VERY INTERESTING QUESTION, AND I DON'T KNOW, IT'D BE INTERESTING TO BE STUDIED. 
          I'M NOT QUITE CERTAIN WHAT THE OUTCOME OF THAT THAT WOULD BE, AND I'M HAVING TROUBLE UNDERSTANDING WHAT OUR ROLE IS WITH THE RATE REVIEW ON THIS. 
          SO WOULD IT BE US ASKING FOR A STUDY OF WHAT CURRENT PRACTICES, UH, FOR NEW DEVELOPMENTS AND HOW THEY'RE PAYING FOR THE UPGRADES IN ELECTRIC INFRASTRUCTURE, BECAUSE THERE'S SOME SOMEONE INVOLVED IN THE RATE REVIEW COULD PROBABLY REQUEST THAT INFORMATION AS WELL. 
          I'M, I'M NOT UNDERSTANDING WHAT, WHAT OUR ROLE AS THE SITE WOULDN'T BE IN IT. 
          I, I THINK IT'S A QUESTION FOR, FOR THE INDEPENDENT HEARING OFFICER AND THE PARTIES IN THAT, UH, TO BRING, TO BRING THAT UP. 
          IT'S NOT US, IT'S NOT, UH, IT'S NOT OUR JOB. 
          WE DON'T HAVE THE DATA. 
          UH, THEY, THE PEOPLE PARTICIPATING OR DOING DISCOVERY, DOING DISCOVERY, UH, AND, AND ALL OF WHICH IS IT'S A CON IT'S A CONCEPT AND RIGHT MAKING, UH, WHICH HAS NOT BEEN UTILIZED BEFORE TO MY KNOWLEDGE, BUT AT CERTAIN, CERTAINLY THE CONCEPT IS THE PEOPLE THAT ARE RESPONSIBLE FOR THE COST SHOULD BEAR, SHOULD PAY THEIR FAIR SHARE. 
          AND, AND ALL OF WHICH IS, AGAIN, WE'RE NOT VOTING ON THIS. 
          WE ARE SIMPLY, UH, DISCUSSING THIS AND PASSING ALONG THE RECOMMENDATION OF THE WORK GROUP THAT THIS BE CONSIDERED, BUT WOULD WE WANT SOME SORT OF, UH, UM, WE'D NEED TO FLESH THIS OUT A LITTLE BIT AND MAYBE GET A, PUT, MAKE THE IDEA MORE THAN A COUPLE SENTENCES, BUT SORT OF GIVE SOME EXAMPLES OF WHAT COULD BE DONE AND THEN PRESENT IT TO CITY COUNCIL. 
          ALRIGHT. 
          I DON'T, I THINK IT HAS TO BE CONSIDERED WITHIN THE RIGHT REVIEW BEFORE, BEFORE IT GOES TO CITY COUNCIL. 
          I, WHAT, WHAT IS IT YOU'RE SAYING, SO YOU'RE SAYING THIS IS SIMPLY A RECOMMENDATION FROM US TO THE PARTICIPANTS IN THE RIGHT REVIEW. 
          RANDY. 
          I WONDER IF, UM, THIS WOULDN'T BE SOMETHING THAT IF WE'RE GOING TO HEAR FROM THE, UM, WHAT'S THE NAME OF THE CONSUMER ADVOCATE, UH, IF THIS WOULDN'T BE SOMETHING THAT WE WOULD WANT TO SUGGEST THAT WE THINK THEY MIGHT EXPLORE AND THEN THEY COULD HAVE CLARENCE LOOK AT IT, I MEAN, THAT WOULD SEEM APPROPRIATE. 
          YES. 
          AND I, AND I, AND I'M NOT CLEAR ON WHAT OUR ROLE IS IN THIS PROCESS OF, DO WE GET TO MAKE SUGGESTIONS TO THE CITIES, THE CITY RETAINS THE CONSUMER ADVOCATE, UH, AND THE CONSULTANT, CLARENCE JOHNSON, DO WE, DO WE HAVE A ROLE TO SUGGEST THIS IS SOMETHING WE'D LIKE TO EXPLORE? I MEAN, I'M CERTAIN THERE'LL BE EXPLORING COST ALLOCATION AND RATE DESIGN, AND JUST THAT THIS IS SOMETHING WE THINK MIGHT BE OF INTEREST, OR DOES THAT EXCEED OUR AUTHORITY? YEAH. 
          I THINK THAT THESE ARE ALL REALLY GOOD, GOOD QUESTIONS. 
          AND, AND PROBABLY WE'RE GOING TO HAVE 
          [01:40:01]
TO GET SOME, UM, GUIDANCE FROM, UM, ROBIN DUNN, OTHERS ON WHAT THE SCOPE OF OUR, OF OUR, YOU KNOW, UH, I DON'T KNOW WHAT OUR BYLAWS SAY, UM, BECAUSE I DON'T THINK THAT WE, WELL, WE, WE, AS A, AS A BODY DO NOT HAVE A ROLE IN THE RATE REVIEW. 
          UM, AND, AND I, I THINK THAT THAT WOULD BE, THAT WOULD INCLUDE, UH, RECOMMENDATIONS TO ANY PARTICULAR, UM, STAKEHOLDER. 
          SO INCLUDING THE INDEPENDENT CONSUMER ADVOCATE. 
          AND, AND SO THAT'S NOT TO SAY THAT EACH OF US INDIVIDUALLY COULDN'T GO AND, AND TALK TO THE INDEPENDENT CONSUMER ADVOCATE AND EXPRESS, UM, THE DESIRE TO, UH, YOU KNOW, HAVE THEM, YOU KNOW, ASK LIKE YOU WERE SAYING DISCOVERY OR WHATEVER EQUIVALENT OF THAT IS IN THIS, UH, PROCESSED TO, YOU KNOW, HAVE, YOU KNOW, HAVE THEY LOOKED AT THAT? WHAT, WHAT, UM, WHAT ARE THE IMPACTS? UM, BUT I, BUT I DON'T THINK THAT IT IS OUR ROLE, UH, TO MAKE A RECOMMENDATION OF THAT KIND OF ANY, ANY, ANY STAKEHOLDER, UM, INCLUDING THE, THE, THE, THE RESIDENTIAL, UM, YOU KNOW, CONSUMER ADVOCATE. 
          UM, AND, AND AS FAR AS A RE UPDATE, UH, FROM THE INDEPENDENT CONSUMER ADVOCATE TO THE EUC, UM, IN THEORY, I THINK THAT WOULD BE REALLY INTERESTING, BUT I DO WANT TO JUST TOUCH BASE WITH, UM, CITY STAFF ON WHETHER THAT WOULD BE APPROPRIATE. 
          THE ONLY THING I'M SORT OF THINKING IS BECAUSE THIS IS, UM, YOU KNOW, BECAUSE THERE'S A, UH, A PARTICULAR PROCESS AND, AND I HAVEN'T GONE THROUGH A RATE REVIEW YET, SO I DON'T ACTUALLY KNOW HOW THIS ALL WORKS, BUT, UH, YOU KNOW, THERE ARE, THERE ARE NUMEROUS STAKEHOLDERS. 
          AND I GUESS I HAVE JUST SORT OF A FUNDAMENTAL FAIRNESS THING IN MY MIND ABOUT, UM, HEARING, HEARING FROM ONE STAKEHOLDER AT AN AUC ME MEETING, AS OPPOSED TO OTHERS IN THE, IN THE RATE REVIEW PROCESS. 
          UM, AND SO, AND I DON'T KNOW, YOU KNOW, HOW WE, HOW WE COULD REALLY ACCOMMODATE THAT. 
          UM, AND SO I, THOSE ARE JUST SOME, SOME, AGAIN, SOME THOUGHTS, AND I WOULD WANT TO TALK WITH, UH, CITY STAFF ABOUT WHETHER, UM, WE CAN FIGURE SOMETHING OUT LIKE THAT. 
          UH, IF THAT, IF THAT MAKES SENSE, WELL, I HAVE, I'VE KEPT A COPY OF THE BYLAWS FOR THIS COMMISSION AND IT, UM, BECAUSE I TOO, I STRUGGLE WITH WHAT OUR PROPER ROLE IS. 
          UM, AND THE, THE VERY FIRST PURPOSE OF THE BOARD IS TO REVIEW AND ANALYZE ALL POLICIES AND PROCEDURES OF THE ELECTRIC UTILITY. 
          AND I'M JUST GOING TO ABBREVIATE IT, INCLUDING THE ELECTRIC RATE STRUCTURE. 
          AND THAT'S WHAT WE'RE TALKING ABOUT IS THE RIGHT STRUCTURE. 
          SO I THINK THAT THERE OUGHT TO BE A WAY FOR US TO PROVIDE SOME INPUT, UH, INTO WHAT IS GOING TO BE DEVELOPED AND CONSIDERED BY THE INDEPENDENT HEARING EXAMINER. 
          UM, JUST UNDER THAT VERY FIRST, UM, UH, PURPOSE AND DUTIES OF THIS COMMISSION. 
          THANK YOU VERY MUCH. 
          THAT'S VERY HELPFUL. 
          UM, AND, AND YEAH, I, I AGREE THAT, THAT, UH, FAIR ENOUGH. 
          SO, UM, OKAY. 
          WELL, I THINK WE HAVE LOTS OF GOOD, UH, UH, DISCUSSION ITEMS AND, AND THINGS THAT WE NEED TO TAKE BACK AND THINK ABOUT AND FIGURE OUT HOW TO PUT INTO A, UH, UH, INTO AN ACTION ITEM. 
          UM, UH, AND I WILL TAKE, UH, FOR ME, AN ACTION ITEM WILL BE TO, UH, ALL DISCUSS WITH CITY STAFF ABOUT, UM, SOME OF THE, SOME OF THE THINGS WE TALKED ABOUT HERE AND, UH, INCLUDING THE, UM, DELIBERATIVE CUSTOMER POLL AND, UM, A, AN UPDATE FROM THE INDEPENDENT CONSUMER ADVOCATE AND HOW TO EFFECTIVELY, UM, YOU KNOW, DISCHARGE OUR DUTIES TO REVIEW THE RATE STRUCTURE, UM, IN GIVEN THE, THE RATE REVIEW PROCESS AS IT CURRENTLY EXISTS. 
          UM, SO I'LL DO THAT. 
          AND, UH, AND I GUESS MR. CHAPMAN, AND YOU HAVE A COUPLE OF THINGS, UH, FOR THE WORKING GROUP THAT YOU'RE GOING TO TAKE BACK. 
          AND, AND YEAH, SO INSTEAD OF MEETING AN HOUR AHEAD OF THE AUC MEETING, UH, THE WORKER, THE WORKER, UH, IT'S, UH, IT'S A GOOD BUNCH OF PEOPLE, AND WE WILL BE SETTING UP A MEETING, UH, AND, AND, UH, WE'LL 
          [01:45:01]
BE IN TOUCH IN TERMS OF WHAT, WHAT YOU'RE ABLE TO, UH, DISCOVER WITH CITY STAFF, UH, HOW THE THOUGHT IS THIS WILL GO ON CONCURRENTLY CONCURRENTLY, AND WE CAN COME BACK WITH AN ACTION ITEM. 
          OKAY. 
          BRENT, AND I HAVE ONE OTHER THOUGHT, MARTY, WHEN YOU SAID THAT, YOU KNOW, YOU'RE CONCERNED ABOUT THE, UM, APPEARANCE OF JUST INVITING ONE CONSUMER GROUP TO COME IN. 
          AND I WOULD JUST NOTE THAT THE MAIN DIFFERENCE IN MY MIND IS, IS THAT THE INDEPENDENT CONSUMER ADVOCATE IS PAID FOR BY THE AUSTIN ENERGY. 
          THE OTHERS ARE GOING TO COME IN ON THEIR OWN ACCORD. 
          SO IT SEEMS THAT, THAT WE OUGHT TO HAVE ACCESS TO THAT PERSON. 
          I DON'T, WE'RE NOT GOING TO HAVE ACCESS TO THE INDEPENDENT HEARING EXAMINER BECAUSE THE EX PARTE RULES, BUT IT SEEMS TO ME THAT WE OUGHT TO BE ABLE TO PROVIDE SOME THOUGHTS TO THE INDEPENDENT CONSUMER ADVOCATE SINCE HE'S PAID FOR BY AUSTIN ENERGY. 
          JUST A THOUGHT, THANK YOU. 
          I APPRECIATE IT. 
          THIS HAS BEEN VERY ENLIGHTENING DISCUSSION, AND I'M GOING TO GO DO SOME HOMEWORK AND SOME THINKING, UH, AND, UH, AND ANY OTHER THOUGHTS FROM THE WORKING GROUP. 
          OKAY, GREAT. 
          THANK YOU SO MUCH. 
          UM, ALL RIGHT. 
          LET'S SEE 
          [11. Report regarding City Council action on items previously reviewed by the EUC. ]
THAT MOVES ON TO OTHER BUSINESS ITEM, NUMBER 11. 
          UH, WE HAD THE REPORT, UM, REGARDING COUNCIL ACTION ITEMS ON COUNCIL ACTION ON ITEMS PREVIOUSLY REVIEWED BY THE AUC THAT WAS CIRCULATED IN OUR PACKET. 
          UM, ANY COMMENTS ON THOSE 
          [12. Future agenda items ]
HEARING? NONE WE'LL MOVE TO FUTURE AGENDA ITEMS. UH, AND WE HAVE, I HAVE, I TOOK SEVERAL NOTES HERE. 
          UM, SO JUST AS YOU KNOW, I'M KEEPING TRACK, WE'VE GOT THE RFP STORAGE, UM, REPORT SCHEDULED FOR THERE, THERE AUSTIN ENERGY IS THINKING SOMETIME IN SEPTEMBER, UH, THEY, WE HAVE ON THE, YOU KNOW, FUTURE AGENDA, A REPORT ON ENVIRONMENTAL COMPLIANCE, UM, THAT WE DISCUSSED IN OUR LAST MEETING. 
          THEY, THEY HAVEN'T SET A, THEY DON'T KNOW WHEN THEY'RE GOING TO BE ABLE TO HAVE THAT READY. 
          YEAH. 
          AND IT, TO BE FAIR, IT PROBABLY MAKES SENSE TO HAVE IT LATER IN THE YEAR, BECAUSE A LOT OF THESE PROPOSALS FROM THE ADMINISTRATION ARE JUST COMING OUT NOW. 
          SO EVEN ANALYZING THE IMPACTS OF THEM IS GOING TO TAKE SOME TIME. 
          IT'S A LOT OF THEM ARE IN SORT OF COMMENT PERIOD RIGHT NOW. 
          SO THEY'RE NOT, YOU KNOW, READY FOR PRIME TIME YET. 
          SO LATER IN THE YEAR IS FINE. 
          OKAY, GREAT. 
          UM, AND THEN I, THEN FROM TODAY'S MEETING, I'VE GOT A COUPLE OF THINGS NOTED. 
          SO I'VE GOT, UM, SOME TYPE OF REPORT ON, UH, THE ELECTRIC FLEET AND AISD SUSTAINABILITY ISSUES, UM, OR, UM, STATUS, I GUESS. 
          UH, UM, AND I THINK THE BREAKOUT, THE CA UH, A MORE DETAILED BREAKOUT OF CATEGORIES OF LONGTERM DEBT. 
          I THINK THAT'S SOMETHING THAT WE MIGHT BE ABLE TO JUST DO AN A, ONE-OFF LIKE A, UH, YOU KNOW, AN EMAIL OR SOMETHING, UM, THEN, UH, SEXUALIZATION A REPORT ON SEXUALIZATION EFFORTS. 
          UM, AND THEN RESILIENCY AS A SERVICE, UH, POTENTIALLY A REPORT IN THE FALL, UH, AFTER THE PILOT PROGRAM, IT SOUNDS LIKE THAT'S CURRENTLY IN DEVELOPMENT IS PERHAPS LAUNCHED, UM, OR JUST, YOU KNOW, WE HAVE SOME MORE DETAILS ABOUT THAT. 
          UH, AND THEN, UH, AND THEN IN, IN, IN THE SAME VEIN SORT OF COMMUNITY SCALE, LOCAL STORAGE AND SOLAR IS THAT, DOES THAT COVER EVERYTHING THAT WE DISCUSSED TODAY AS POTENTIAL FUTURE AGENDA ITEMS? OKAY, GREAT. 
          ANY OTHERS, IF WE COULD POST THAT IT ALSO AS AN ACTION ITEM, SO IT DOESN'T GET PUSHED DOWN THE ROAD. 
          RIGHT. 
          OKAY. 
          SO NEXT WE'LL HAVE ON JUNE'S, UH, MEETING A REPORT, UM, DISCUSSION AND ACTION WILL BE POSTED FOR DISCUSSION AND ACTION ON THE BUDGET WORK GROUP. 
          OKAY. 
          OKAY. 
          UH, ALL RIGHT. 
          UM, ANY, ANY OTHER LAST CLOSING THOUGHTS? OKAY. 
          WELL THEN WITHOUT OBJECTION, I WILL ADJOURN THE MEETING. 
          THANK YOU VERY MUCH. 
* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.