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[Call to Order]

[00:00:04]

EATING OUT THE AUSTIN ENERGY OVERSIGHT COMMITTEE TO ORDER AT 2:04 PM.

UM, LET'S

[Item 1 (Part 1 of 2)]

START WITH THE APPROVAL OF THE MINUTES.

I'LL ENTERTAIN A MOTION TO APPROVE THOSE.

COUNCIL MEMBER VICE CHAIR POOL MOVES APPROVAL.

IS THERE A SECOND? SECOND.

I'M SORRY, I'M NOT CLEAR ON WHO THAT WAS.

AH, COUNCIL MEMBER KITCHEN.

THANK YOU.

OKAY.

ALL IN FAVOR.

HI.

SO THAT'S COUNCIL MEMBERS KITCHEN, VICE-CHAIR POOL COUNCIL MEMBER ALTAR MAYOR PROTIME GARZA COUNCIL MEMBER LS AND COUNCIL MEMBER RENTERIA SO THAT PATTON AND I'VE VOTED AS WELL.

SO THAT PASSES.

[Item 2]

UM, NEXT IS OUR GENERAL MANAGER AT PORT MS. SERGEANT.

GOOD AFTERNOON COMMITTEE CHAIR, VICE CHAIR AND MEMBERS OF THE AUSTIN ENERGY UTILITY OVERSIGHT COMMITTEE.

I'M JACKIE SERGEANT AUSTIN ENERGY GENERAL MANAGER.

IN ADDITION TO MY GENERAL MANAGERS REPORT TODAY, A DEPUTY GENERAL MANAGER AND CHIEF FINANCIAL AND RISK OFFICER, MARK DOMBROSKI WILL PRESENT THE SECOND QUARTER FINANCIAL BRIEFING AND DEPUTY GENERAL MANAGER AND CHIEF OPERATING OFFICER CHARLES DICKERSON WILL PRESENT THE SECOND QUARTER OPERATIONS BRIEFING AND THE DECKER WORKPLACE UPDATE.

NEXT SLIDE.

I WANTED TO START TODAY WITH AN UPDATE ON OUR PLUS ONE ASSISTANCE PROGRAM.

ON APRIL 9TH.

THE CITY COUNCIL PASSED AN ORDINANCE TO ENSURE CUSTOMER'S EXPERIENCING HARDSHIPS DUE TO COBIT.

19 CAN GET IMMEDIATE UTILITY BILL RELIEF PLUS ONE EMERGENCY FINANCIAL SUPPORT PROGRAM.

ONE PART OF THE UTILITY BILL RELIEF MEASURES HELPS ALL RESIDENTIAL CUSTOMERS WHO ARE HAVING FINANCIAL DIFFICULTIES AND ARE UNABLE TO PAY THEIR UTILITY BILLS DUE TO UNEXPECTED EMERGENCIES.

ALL RESIDENTIAL CUSTOMERS CAN EASILY APPLY FOR HELP WITH THEIR UTILITY BILLS@WWWDOTAUSTINBILLHEALTH.COM THE ADDITIONAL FUNDING APPROVED FOR OUR PLUS ONE PROGRAM HAS ALREADY ALLOWED AUSTIN ENERGY TO PROCESS PAYMENT TO 3,200 RESIDENTIAL CUSTOMERS FOR A TOTAL OF APPROXIMATELY $897,000 IN UTILITY BILL RELIEF JUST OVER A MONTH.

WE HAVE PROVIDED MORE ASSISTANCE THAN ANY OTHER MONTH IN THE HISTORY OF THIS PROGRAM.

SO FAR THIS FISCAL YEAR, OVER 1.9 $4 MILLION HAS BEEN PROVIDED FOR UTILITY BILL RELIEF.

WE'VE ACCOMPLISHED THIS THROUGH OUR NEW WEBSITE AND BY WORKING CLOSELY WITH OUR EXISTING NETWORK OF 56 NONPROFIT SOCIAL SERVICES PARTNERS SPREAD THROUGHOUT OUR COMMUNITY.

WE ARE PROUD OF THE ASSESSABILITY OF THIS PROGRAM AND THE ENHANCEMENTS MADE TO ASSIST CUSTOMERS THAT NEED HELP.

DURING THIS TIME.

DEPUTY GENERAL MANAGER, MARK DOMBROWSKI WILL COVER THE ADDITIONAL BILL RELIEF COUNCIL APPROVED IN HIS FINANCIAL PRESENTATION.

NEXT SLIDE.

NEXT, I WOULD LIKE TO MENTION AN AWARD.

AUSTIN ENERGY RECENTLY RECEIVED OUR DISTRICT COOLING.

OUR DISTRICT ENERGY AND COOLING TEAM RECEIVED A FINALIST AWARD OUT OF 38,000 CUSTOMERS FOR THE VAQUERO SUSTAINABILITY AWARD.

THE AWARD RECOGNIZES A CUSTOMERS FOR THEIR EXCELLENCE IN WATER STEWARDSHIP, INCLUDING THOSE USING NEW OR EXISTING TECHNOLOGIES AND INNOVATIVE, SUSTAINABLE WAYS AND COMPANIES MAKING SIGNIFICANT STRIDES IN WATER REDUCTION.

AUSTIN ENERGY PARTNERED WITH EVOC LAW TO IMPROVE THE QUALITY OF WATER CIRCULATING THROUGH THE COOLING TOWERS AT THE DOMAIN SITE BY IMPROVING THE WATER QUALITY AUSTIN ENERGY.

ALSO IMPROVE ENERGY EFFICIENCY OF THE COOLING SYSTEM BY APPROXIMATELY 15% THE NEW FILTRATION SYSTEM PROVIDES FOR ABOUT 50% WATER SAVINGS VERSUS OTHER MEDIA FILTRATION TECHNOLOGIES, WHICH TRANSLATES INTO 1.5 MILLION GALLONS OF WATER SAVED PER YEAR.

NEXT SLIDE, PLEASE.

FINALLY, I HAVE ONE MORE ANNOUNCEMENT REGARDING THE AUSTIN ENERGY EXECUTIVE TEAM.

I AM PLEASED TO ANNOUNCE THAT MS TAMMY COOPER HAS ACCEPTED THE POSITION AS AUSTIN ENERGY'S VICE PRESIDENT OF REGULATORY AFFAIRS AND CORPORATE COMMUNICATIONS.

HEMI HAS EXTENSIVE EXPERIENCE IN THE ELECTRIC UTILITY INDUSTRY, MOST RECENTLY SERVING AS GENERAL COUNSEL AND CORPORATE SECRETARY AT TEXAS RELIABILITY ENTITY WHERE SHE LED THE LEGAL COMMUNICATIONS AND TRAINING DEPARTMENT.

PLEASE JOIN ME IN WELCOMING TAMMY AS TODAY IS HER FIRST DAY WITH AUSTIN ENERGY.

I'D ALSO LIKE TO THANK CHERYL MILI FOR COMING BACK AND SERVING AS INTERIM VICE PRESIDENT OF REGULATORY AFFAIRS FOR THE PAST SEVERAL MONTHS.

GIRLS' KNOWLEDGE HAS BEEN AN ASSET TO EVERYONE,

[00:05:01]

ESPECIALLY DURING THESE UNPRECEDENTED TIMES.

AND WITH THAT, I'LL PAUSE AND HAPPY TO ANSWER ANY QUESTIONS YOU MAY HAVE.

THANK YOU VERY MUCH GENERAL MANAGER AND WELCOME TO, UH, TOMMY COOPER.

THANK YOU FOR BEING HERE WITH US TODAY.

UM, DOES ANYONE HAVE ANY QUESTIONS? COUNCIL MEMBER ALTAR.

THANK YOU.

UM, AND WELCOME TO MS. COOPER.

I, UM, WANTED TO JUST, UM, ASK YOU A QUESTION ABOUT THAT UTILITY BILL RELIEF.

UM, SO IN OUR AUSTIN WATER OVERSIGHT COMMITTEE, THERE WERE CHALLENGES GETTING RELIEF TO FOLKS WHO ARE LIVING IN MULTIFAMILY BUILDINGS.

UM, I UNDERSTAND THAT THE INFRASTRUCTURE IS DIFFERENT FOR ELECTRICITY AND FOR WATER, BUT CAN YOU SPEAK TO ANYTHING YOU KNOW ABOUT WHETHER, UM, YOU'RE ABLE TO REACH THE MULTIFAMILY FOLKS, UM, THROUGH THIS RELIEF OR NOT? WHAT OBSTACLES THERE MAY BE? THEY'RE STILL OVERCOME.

SO, AND, AND, UM, OUR MULTIFAMILY INSTALLATIONS, WE HAVE THOSE THAT ARE MASTER METER, SO THERE'S ONE METER AND THE PROPERTY OWNER MANAGES THE COLLECTION OF COSTS, UH, THROUGH, THROUGH THE RENTS OF THE, UH, PEOPLE THAT LIVE IN THOSE PREMISES.

UM, BUT WE HAVE A NUMBER OF, UM, MULTIFAMILY, UH, FACILITIES THAT HAVE INDIVIDUAL METERS FOR EACH UNIT.

AND IN THOSE CASES WE CAN MAKE THOSE, UH, FUNDS FOR UTILITY BILL, UH, ASSISTANCE AVAILABLE TO THEM BECAUSE THEY'RE ACTUAL CITY UTILITY CUSTOMERS OR AUSTIN ENERGY CUSTOMERS.

AND SO THEY HAVE AN ACCOUNT THAT YOU CAN THEN, UM, APPLY THE FUNDING TO.

UM, WHEN IT'S, IT'S MASTER METERED, UM, IT'S, IT'S LOOKED AT IN VIEW DIFFERENT.

IS THERE, ARE THERE ANY STEPS THAT WE COULD TAKE IF THE LANDLORD, UM, IF WE COULD ASSURE THAT THE LANDLORD WOULD PASS THE SAVINGS ON TO THE TENANT TO ALLOW IN CERTAIN CIRCUMSTANCES FOR THAT? UM, MULTIFAMILY MASTER METER SITUATION TO BENEFIT FROM THIS TYPE OF PROGRAM.

YEP.

JACKIE, DO YOU WANT TO GO TO THE JERRY? I WAS GOING TO EITHER HAVE YOU OR ELAINE BELL PSYCHO.

OH, ELAINE CAN TAKE IT AS WELL.

SURE.

LANE.

UM, SO I'M SORRY, I GOT A LITTLE SIDETRACKED.

SO FOR THE, UM, WE TALKING ABOUT FOR THE WATER OR FOR THE ELECTRIC? UM, I THINK I HAVE UNDERSTANDING THAT IT'S NOT, I MEAN I LIKE IT TO BE FOR BOTH.

UM, BUT MY UNDERSTANDING WAS OFTEN WATER WAS ALREADY LOOKING AT OUT IT FOR US.

UM, WITH RESPECT TO WATER, I WAS ASKING ABOUT IT PERSPECTIVE, ELECTRIC WATER.

I WELCOME IT.

YEAH.

I DON'T HAVE ENOUGH DATA ON WATER.

I KNOW.

UM, I, AND I BELIEVE THEY MENTIONED IT IN THE UM, OVERSIGHT COMMITTEE MEETING THAT, UM, YOU KNOW, THEY WERE, THEY WERE LOOKING AT SOME OTHER UTILITIES, UM, TO, TO SEE HOW THOSE PROGRAMS WERE BEING ADMINISTERED.

I THINK THAT THE CHALLENGES AND, AND IF I HEARD YOUR QUESTION CORRECTLY ABOUT, UM, IF IT COULD BE SURE THAT THOSE ARE PASSED ALONG, UM, AND IT WOULD HAVE TO OCCUR OUTSIDE OF THE UTILITY BILL.

SO IF THE DISCOUNT HAPPENED AND IT WAS GIVEN TO THE LANDLORD, UM, HOW WOULD WE HAVE PRO FOR ANY INSIGHTS OR ANY INFORMATION IF, IF THAT WAS PASSED ALONE AND, UM, YOU KNOW, WHAT ABOUT, UM, UH, SITUATIONS WHERE MAYBE, UM, IT'S, I THINK THERE'S SOME QUESTIONS.

IT'S A COMPLEX ISN'T ALL MULTITASK.

I MEAN, ISN'T ALL LOW INCOME, HOW DO WE MAKE SURE THAT THE RIGHT RESIDENTS GET THE BENEFIT? SO IT'S, THERE, THERE'S A LOT OF CHALLENGES WRAPPED UP IN, IN ENSURING A DISCOUNT GETS TO THE END USERS AND THE MULTIFAMILY, WE MAY NOT, SOME AFFORDABLE HOUSING COMPLEXES THAT HAVE, DO THEY HAVE MASTER METERS OR DO THEY HAVE THEM READ OUT THAT WE MIGHT BE ABLE TO TARGET SOME RELIEF SPECIFICALLY TO BUILDINGS THAT WE KNOW ARE LOW INCOME? I MEAN, FOR INSTANCE, TO HAVE MASTER METERS OR DO THEY, YOU KNOW, YEAH, I DON'T MEET HER.

I DON'T, I DON'T UNFORTUNATELY, UM, KNOW THE ANSWER TO THAT.

I DON'T, I'M DIFFERENT PROPERTIES MAY BE DIFFERENT DEPENDING ON WHEN THEY WERE CONSTRUCTED.

UM, SO I THINK WE WOULD HAVE TO LOOK INTO THAT THAT FURTHER.

UM, AND THEN SEE IF WATER HAS, UM,

[00:10:01]

SOME THOUGHTS IN A BETTER WAY TO ADMINISTER THE PROGRAM.

SO THIS IS, THANKS FOR RAISING THAT COUNCIL MEMBER ALTER.

I DIDN'T HAVE AN OPPORTUNITY TO HEAR THE WATER OVERSIGHT COMMITTEE, BUT I KNOW THIS ISSUE HAS COME UP MULTIPLE TIMES IN THE PAST AND WAS ACTUALLY THE SUBJECT OF A COUNCIL RESOLUTION, UM, PROBABLY SIX OR SEVEN YEARS AGO TO LOOK AT WHETHER THERE WERE OPTIONS TO ADDRESS THIS.

UM, AND I WOULD ASK OUR, OUR AUSTIN ENERGY STAFF TO TALK WITH US TO MONITOR AND SEE WHAT, WHAT ALTERNATIVES ARE OUT THERE, BUT WE MIGHT BEGIN BY ASKING THOSE STAFF TO LOOK BACK AT THE MEMO THAT WAS PROVIDED AFTER THE RESOLUTION AND SEE MMM.

YOU KNOW, WHETHER THERE ARE ANY, WHETHER THERE ARE ANY CHANGES THAT HAVE BEEN MADE WITH REGARD TO THE TECHNOLOGY THAT WOULD ALLOW US TO DO THIS.

I KNOW ASHLEY RICHARDSON ON MY STAFF, UM, AND SHANNON HOLLY HAVE BOTH LOOKED INTO THIS IN THE PAST TOO.

AND SO I, IT SEEMS LIKE WE COULD FIND A WAY, BUT IT IS, IT IS CHALLENGING AND AN ANSWER TO THE QUESTION THAT YOU RAISED COUNCIL MEMBER ALTAR.

I THINK THAT WE HAVE SOME EXAMPLES, PROBABLY OF SOME AFFORDABLE HOUSING DEVELOPMENT THAT, THAT OUR MASTER METER, BUT I'LL NEED TO CHECK WITH MY STAFF TOO TO VERIFY THAT CAUSE EVEN IF WE CAN, UM, YOU KNOW, IT, WE MIGHT HAVE TO DO SOMETHING VERY DIFFERENT OVER THE LONGTERM, BUT EVEN IN THE SHORT RUN, UM, YOU KNOW, DURING THIS COVERT TIME, IF WE COULD, YOU KNOW, TARGET SOME OF THOSE PROPERTIES.

I THINK, UM, TO THE EXTENT THAT THERE'S FUNDING AVAILABLE, AND I KNOW IT LOOKS LIKE THE NUMBERS ARE SLIGHTLY DIFFERENT FOR WATER AND ELECTRIC WATER.

IT LOOKED LIKE WE WERE NOT ON TRACK FOR THE AMOUNT THAT YOU MIGHT EXPECT IT, UM, PER MONTH AT THE TIME THAT WE LOOKED AT IT.

UM, I JUST THINK THAT THAT MIGHT, UM, IMPORTANT RELIEF THAT WE COULD, WE COULD OFFER.

UM, WE CERTAINLY WILL, UH, REACH OUT TO, UH, OUR PEERS OVER AT AUSTIN WATER AND LOOK INTO THIS AND SEE WHAT THEY HAVE.

ALSO.

UM, WE'LL LOOK BACK AT, UM, RESOLUTION ANY DIRECTION FROM COUNCIL REVIEW THAT AS WELL.

AND WE'LL FOLLOW UP.

ARE THERE OTHER, ARE THERE OTHER QUESTIONS FOR GENERAL MANAGER? I WANT TO THANK YOU FOR MAKING REALLY, UM, TAKING THAT RESOLUTION AND WORKING HARD TO FIND WAYS TO PROVIDE THAT RELIEF TO OUR CUSTOMERS, TO OUR RATE PAYERS.

UH, THIS IS REALLY, I'M SURE VERY, VERY WELCOME ASSISTANCE AT A TIME WHERE SO MANY FAMILIES IN OUR COMMUNITY NEED THEM.

SO THANK YOU VERY MUCH.

THAT'S REALLY, UM, THAT IS, LET ME JUST UNDERSCORE THAT AS REALLY ONE OF THE BENEFITS THAT ARE RIGHT NEAR AS ENJOY AS A MUNICIPALLY, HAVING A MUNICIPALLY-OWNED UTILITY HERE THAT CAN BE RESPONSIVE TO THE NEEDS AND THE CHANGING NEEDS AND DEMANDS OF OUR CUSTOMERS.

SO THANK YOU FOR, FOR BEING SUCH A GOOD, UM, STRONG LEADER ON THAT FRONT.

I REALLY APPRECIATE THE WORK OF OUR TEAM TOO.

CAUSE IT WAS, IT WAS A TEAM EFFORT.

[Item 3]

WE MOVE ON TO THE NEXT SEGMENT IS THE NEXT SEGMENT.

UM, MR DOMBROWSKI'S.

YES.

GOOD AFTERNOON.

THIS IS MARK AND BRODSKY, THE CFO FOR AUSTIN ENERGY.

AND I'M GOING TO PRESENT TO YOU THE AN ARTIST ADULTS FOR OUR SECOND QUARTER OF FISCAL YEAR 2020.

SO THAT PERIOD ENDED MARCH 31ST, 2020 JUST UP, I'D LIKE TO MENTION THAT YOU KNOW, THERE'S REALLY NO EFFECTS IN THE CODE 19 PANDEMIC RESULTS BECAUSE OUR STAY HOME WORKSAFE ORDER PROTOCOL REALLY BEGAN AROUND MARCH 16TH, WHICH IS THE LAST TWO WEEKS OF THIS PERIOD.

SO, UM, THERE REALLY ARE NO EFFECTS OF DISCUSS HERE.

UM, SO GOING ON TO PAGE TWO HERE, OBVIOUSLY THIS INFORMATION IS ALL AN THAT IT SHOULD BE MADE CONDUCTION BUT COMPREHENSIVE PANEL FINANCIAL, WE'RE TO PAGE THREE HERE.

UM, OUR STANDARD PROTOCOL, I'M GOING TO TRY TO GO THROUGH THIS FAIRLY QUICKLY AND ABBREVIATED SINCE WE'RE ONLINE HERE AND BE ABLE TO ANSWER ANY QUESTION AT ALL, BUT IT CONTAINS ALL THE USUAL, UH, QUARTERLY INFORMATION WE HAVE.

AND ON TO PAGE FIVE.

WELL, AT A HIGH LEVEL, I LIKE TO MENTION IF YOU KNOW WHERE THE POINTS FIRST IS, WE ARE GENERALLY COMPLIANT WITH OUR FINANCIAL POLICIES, UH, WITH THE EXCEPTION OF OUR CAPITAL RESERVE.

WHILE THAT SPECIFIC RESERVE IS BELOW OUR MINIMUM FUNDING LEVEL, OUR TOTAL CASH RESERVES ARE ABOVE OUR MINIMUM PLANNING LEVEL OR OPERATING RESERVES OR REVENUES OR SECOND QUARTER OR 629 MILLION.

AND THAT'S

[00:15:01]

SLIGHTLY HIGHER THAN BUDGET AND PRIOR YEAR, PRIMARILY DUE TO HIGHER RETAIL SALES.

DURING THE WARMER WEATHER WE HAD OUR FIRST QUARTER.

SO THROUGH MARCH, 2020 OUR ENERGY SALES ABOUT 101.7% OF OUR ORIGINAL FORECAST AND THAT'S ALL DETAILED HOMEPAGE 13.

OUR OPERATING EXPENSES ARE TRENDING HIGHER, 515 MILLION VERSUS A BUDGET OF 505.

UM, THIS RESULTS IN AN OPERATING INCOME OF 115 MILLION.

YOU THEN USE THAT OPERATING INCOME TO PAY OUR DEBT SERVICE, ADMINISTRATIVE SERVICES, CITY OR GENERAL FUND TRANSFER OR ECONOMIC DEVELOPMENT, CITY TECHNOLOGY MANAGEMENT.

AND OF COURSE WE FUND OUR CASH PORTION OF OUR CAPITAL PLAN REVENUES.

SO THE RESULT OF THE SECOND QUARTER IS A BUDGETARY DEFICIT OF 65, NINE VERSUS A PLAN DEFICIT OF 53,000,008 14 SHOWS YOU IN DETAIL OR FUND SUMMARY.

AND ALSO ENERGY INCOME IS WEIGHTED HEAVILY IN THE THIRD AND FOURTH QUARTER.

SO WE EXPECT THAT DEFICIT TO EITHER BE REDUCED OR ELIMINATED BY YEAR END OR BALANCE SHEET IS LIQUID WITH A WELL BALANCED MIX OF CAPITAL FUNDING OR CASH AND RESERVE BALANCE OF 705 MILLION.

AND THAT'S FOUND ON PAGE 21 IN DETAIL.

WHEN THE MARKET NEWS, I'VE SUMMARIZE THE $35 MILLION UTILITY TO BUILD REALLY PACKAGE FOR AUSTIN ENERGY.

UM, WHILE MOST OF YOU HAVE SEEN THIS INFORMATION, UH, WE INCLUDED HERE SO WE COULD PRESENT IT TO OUR ELECTRIC UTILITY COMMISSION TO AMAZE MEETING AND TO HELP KEEP, KEEP THEM INFORMED.

SO WITH THAT, I'D LIKE TO GO TO PAGE 14.

SO ON PAGE 14 AT OUR FUND SUMMARY AND YOU CAN SEE WE ARE, UM, BEING PRETTY CLOSE TO OUR BUDGET, UM, WITH THE EXCEPTION OF THOSE OPERATING EXPENSES.

AND WHILE MOST OF THOSE EXPENSES ARE MORE TIMING DIFFERENCES, UM, AND SO, UM, WE EXPECT TO SEE THOSE, THAT DIFFERENCE DECREASE OVER THE COURSE OF THE YEAR AND COME CLOSER IN BUDGET.

UM, BUT OTHER THAN THOSE OPERATING EXPENSES, UM, IT'S PRETTY MUCH ACCORDING TO WHAT WE HAD PLANNED.

UM, WE HAD PLANNED, LIKE I SAID, THE $53 MILLION DEFICIT.

WE'RE ACTUALLY AT 65 AND THAT SHOULD EASE ITSELF THROUGH THE COURSE OF THE YEAR AS OUR REVENUES INCREASED THE THIRD AND FOURTH QUARTER.

GO TO PAGE 15.

SO THIS IS A SUMMARY.

I KNOW SOME PEOPLE WERE WATCHING THIS.

THESE ARE OUR ENERGY SALES.

AS YOU CAN SEE THROUGH MARCH, UM, WE WERE PRETTY MUCH ON SCHEDULE.

WE'RE ABOUT 1.3% HIGHER THAN FORECAST AND THAT'S BECAUSE WE HAD A LITTLE BIT WARMER OCTOBER, UM, THAT WE HAD FORECAST.

BUT OTHERWISE WE'RE PRETTY CLOSE TO BUDGET.

THEY WERE PRETTY CLOSE WHAT WE EXPECTED.

IN FACT, I CAN TELL YOU IN APRIL, WE'RE ALMOST EXACTLY ON BACK ON APRIL.

SO OUR ENERGY SALES ARE ABOUT WHERE WE EXPECT GIVE GO TO PAGE 19.

SO THIS CHART DISPLAYS ALL THE COMPONENTS OF OUR POWER SUPPLY WITH 12 RIGHT RAILING MONTHS AND IT DEMONSTRATES THE VALUE OF THOSE DISPATCHABLE RESOURCES AND OUR PPA PORTFOLIO.

SO THE COST FROM OUR COST TO METER, WE TELL LOAD WERE 639 MILLION.

OUR NET REVENUES FROM OUR OWN DATA ASSETS WERE 261 LAND.

AND THEN THAT COST ASSOCIATED WITH A CONTRACT OF ASSETS 48 .

UM, I MEAN BY SOME ADDITIONAL, UM, REVENUE WITH OUR GREEN CHOICE AND VALUE OF SOLAR BILATERALS SO THAT THE NET EFFECT WAS A POWER SUPPLY COST OF $406 MILLION FOR OUR CUSTOMERS.

THIS CHART DOES NOT INCLUDE THE FIXED COST ASSOCIATED WITH POWER GENERATION OVER HAIR DNA.

THOSE COSTS ARE INCLUDED IN OUR BASE RATES, SO YOU CAN SEE, UM, PROVIDE SUBSTANTIAL BENEFIT TO OUR CUSTOMERS, UH, NEAR CONFLICT.

AND LAST THING I WANNA TOUCH ON IS ON PAGE 21 HERE OF FAIRLY BRIEF, WELL, THIS WAS, UM, OUR BALANCE SHEET ON THE LEFT THERE AND IT GIVES YOU OUR CASH RESERVES, UM, AND WHERE WE HOLD THOSE RESERVES.

SO AS OF MARCH, WE HAD $705 MILLION IN WORKING CAPITAL ITEMS, OR YOU CAN SEE WHERE, WHERE THAT, WHERE THOSE FUNDS ARE KEPT.

UM, AND HE CAN SEE THAT WE HAVE, UH, PLENTY OF COMMERCIAL PAPER AUTHORITY.

UH, WE TOOK THAT OUT AND CONVERTED TO LONGTERM DEBT BACK IN JULY.

SO AT THE END OF SECOND QUARTER WE HAD 73, 2 MILLION OUT OF $275 MILLION CAPACITY.

SO, UH,

[00:20:01]

YOU KNOW, PLENTY OF CAPACITY TO FUND OUR EXISTING CAPITAL FUND.

ANY QUESTIONS ON THAT? I'LL MOVE ON TO OUR REGULAR LEAF PACKAGE.

WE ARE BUILDING THE PACKAGE QUESTIONS ON THE QUARTERLY REPORT.

SOME OF YOU HAVE DISAPPEARED FROM MY, MY SCREEN.

SO JUST CALL OUT IF YOU HAVE ANY COLLEAGUES.

I DON'T SEE ANY MR JIM BROSKI IF YOU'D LIKE TO CONTINUE ONTO THE BILL IMPACTS.

SURE.

SO, UM, I'M GOING ON TO PAGE 24 NOW.

WELL, LIKE I SAID, MANY OF YOU, WE HAD THE OPPORTUNITY TO MEET YOU WHEN WE WERE WORKING ON THIS PACKAGE.

UM, UNFORTUNATELY, UM, WE DID IT.

UM, FOUR WERE ABLE TO BRIEF THE ELECTRIC UTILITY COMMISSION.

SO WE USE THIS QUARTERLY BRIEFING AS A WAY TO BRING THEM UP TO SPEED ON WHAT WE WILL WANT.

SO, UM, JUST IN, IN SUMMARY THAT, YOU KNOW, WE, WE RECOGNIZE THAT THERE WERE, UM, SOME STEPS WE NEED TO TAKE ON BEHALF OF OUR CUSTOMERS DO THE COBIT 19.

AND SO WE WERE ABLE TO, UM, PUT TOGETHER A $35 MILLION ELECTRIC BLOWER LEGION.

SO THAT'S WHAT WE ESTIMATE THE BENEFITS WILL BE FOR OUR CUSTOMERS.

THE END OF THE YEAR OR SEPTEMBER 30TH, THESE TOOK EFFECT ON APRIL 9TH, I BELIEVE THAT'S WHEN YOU VOTED TO IT.

AND I BELIEVE ELENA DOES OKAY.

AND CHIME IN HERE, BUT UM, IT MAY HAVE BEEN ACTUALLY ON APRIL NIGHT THAT WE WERE ABLE TO EXECUTE THOSE CHANGES WITHIN THE BILLING SYSTEM.

SO IT TOOK HOLD, UH, ALMOST INSTANTANEOUSLY.

YES, IT WAS.

IT WAS APRIL 9TH AND IT WAS FOR ANY METER READS THAT UM, USAGE TIED TO ANY METER READS ON APRIL 9TH OR AFTERWARD.

SO THOSE, UM, CUSTOMERS HAVE, HAVE BEEN SEEING THOSE ON THE BILL SINCE THE EMERGENCY RESOLUTION.

THANK YOU.

SO GOING ON ONTO PAGE, UH, LET'S SEE HERE.

25.

SO, UM, THIS IS, UM, THIS NUMBER 35 MILLION DOES NOT INCLUDE AUSTIN WATERS CONTRIBUTION.

THEY ALSO HAD $11 MILLION BILL RELIEF.

THOSE A TOTAL OF 46, BUT FOR AUSTIN ENERGY'S 35 MILLION, THAT'S THROUGH SEPTEMBER 30TH.

WE EXPECT THESE RATES TO REMAIN EFFECTIVE, UM, UNTIL WE ADOPT AND IMPLEMENT OUR FYI 21 BUDGET RATES, UM, THAT COUNCIL USUALLY APPROVES DURING THE BUDGET CYCLE.

UM, AND SO WE'LL HAVE ANOTHER OPPORTUNITY TO REVIEW THIS, UM, DETERMINE WHETHER ADDITIONAL LEAF NEEDS TO BE PUT IN PLACE.

WE'LL REVERT BACK TO THE OLD RATE STRUCTURE.

MMM.

WE LOOKED AT BOTH THE FINANCIAL NEEDS OF OUR CUSTOMERS, MANY OF THEM WHO WERE UM, UH, LOST THEIR INCOME DURING COVEN 19 AS WELL AS THOSE CUSTOMERS WHO, UM, WERE FORCED TO HAVE HIGHER USAGE, UH, FOR WORKING AT HOME OR HAVING THEIR KIDS AT HOME.

UH, SO WE TRIED TO FIND SOME ASSISTANCE THERE AS WELL.

WE ALSO PROVIDED ASSISTANCE TO UM, OUR CA CUSTOMERS BY INCREASING THE DISCOUNT FROM 10 TO 15% FOR THOSE CUSTOMERS.

WE TRIED TO FOCUS ON MOSTLY THE RESIDENTIAL CUSTOMERS, ALTHOUGH THERE IS RATE WOULD BE FOR OUR COMMERCIAL CUSTOMERS AS WELL.

I REDUCING, UM, THE REGULATORY CHARGE I'LL COVER HERE IN A MINUTE.

GOING ON TO PAGE 26.

UM HMM.

WE REALLY FOCUSED ON WHAT RELIEF WE COULD IMPLEMENT RIGHT AWAY.

SO CHANGING RATE STRUCTURES CONTAINED IT TAKE UP TO 90 DAYS.

AND SO WE FOCUSED ON WHAT ARE THE THINGS WE COULD CHANGE RIGHT AWAY.

IN FACT, AS MR SALKIN POINTED OUT, THAT WE WERE ABLE TO GET THIS ON APRIL 9TH THE SAME DAY THAT THAT PACKAGE.

UM, SO BY DOING THAT WE WERE JUST ADJUSTING THE EXISTING VALUES, DISCOUNT RATE STRUCTURE ITSELF.

MMM.

GARY, JERRY IVONNE OR CARRY OVER TO YOU.

CAN YOU TALK A LITTLE BIT MORE ABOUT THE PLUS ONE ENROLLMENT? UM, BUT BY PUTTING THAT $5 MILLION DIRECTLY IN THE PLUS ONE, WE ARE ABLE TO DIRECTLY ASSIST THOSE CUSTOMERS WHO MAY NOT BE KEPT CUSTOMERS.

THOSE CUSTOMERS WHO FOUND THEMSELVES IN IMMEDIATE FINANCIAL STRAIGHTS THAT NEEDED SOME ASSISTANCE.

SO THAT'S THE PROGRAM WE CAN USE THERE.

UM, AND OF COURSE WE CONTINUED WITH NO DISCONNECTS, NO LATE FEES, ENHANCED PAYMENTS ARRANGEMENTS FOR OUR CUSTOMERS, REMAIN AS FLEXIBLE AS POSSIBLE.

AND ON PAGE 27 IS, UM, KIND OF A SUMMARY THERE.

SO, UH, WE TRANSFERRED $5 MILLION TO THE PLUS ONE PROGRAM.

CUSTOMERS SEEKING FINANCIAL ASSISTANCE.

[00:25:01]

MMM.

INCREASING THE DISCOUNT FROM 10% TO 15%.

UM, UM, IT WAS ABOUT AN ADDITIONAL MILLION DOLLAR RELIEF FOR OUR CUSTOMERS, REDUCING A REGULATORY CHARGE, UM, THAT ASSIST RESIDENTIAL AS WELL AS OUR BUSINESS CUSTOMERS.

UH, THAT WAS $25 MILLION OF RATE RELIEF AND THEN, UM, REMOVING TIERS FOUR AND FIVE, UH, PRICING THOSE AT THE SAME LEVEL TIERS, TIER THREE OR IN CITY AND OUTSIDE CITY CUSTOMERS AND THAT PROVIDE AN ADDITIONAL $4 MILLION FOR A TOTAL OF 35 MILLION IN SEPTEMBER THREE.

BONNIE, ON PAGE 28, UM, WE CONTINUE TO MONITOR THE COVERT IMPACTS ON OUR CUSTOMER'S NEEDS.

MMM.

OUR ENERGY SALES ARE APPROXIMATELY WHAT WE HAD FORECASTED.

HOWEVER, WHAT WE ARE SEEING IS, UM, OBVIOUSLY A REDUCTION IN THE COMMERCIAL DEMAND, UH, WITH AN INCREASE IN RESIDENTIAL USAGE.

WE CONTINUE TO MONITOR THE CUSTOMER CAUSE I'M FROM MY CLASS OR BETTER UNDERSTAND HOW THAT'S IMPACTING OUR CUSTOMERS.

WE ARE SEEING A SLIGHT INCREASE AGAIN IN OUR, UH, SECONDARY TO CUSTOMERS.

UM, WE BELIEVE THAT'S PART OF THE, THE PARTIAL REOPENING OF OUR ECONOMY.

AND SO THOSE, THOSE BUSINESSES ARE STARTING TO USE, USE MORE ENERGY AS YOU'D EXPECT.

MMM.

SOME OF THE THINGS WE'RE DOING, WE'RE OBVIOUSLY MONITORING AND MAKING SURE THAT WE ARE ABLE TO APPLIANCE WITH OUR OPERATING COSTS IN OUR DEBT SERVICE COVENANTS AND WE ARE GOOD THERE.

AND, UM, WE'RE WORKING WITH OUR PARTNER AGENCIES TO HELP US TO START ON THE ONE THAT'S ONE PROGRAM.

FIND THE PRODUCT BY AS MUCH FLEXIBILITY AS WE CAN WITH OUR CUSTOMERS.

AND MAYBE I CAN OPEN THIS UP TO EITHER JERRY OR CARRIE.

TALK A LITTLE BIT MORE ABOUT HOW WE'RE ASSISTING BOTH PLUS ONE CUSTOMERS AND OUR CAP CUSTOMERS PACKAGE.

NO, CERTAINLY THIS IS JERRY OR, UM, I MEAN AS JACKIE OPENED UP, UM, HER STATEMENT EARLY ON, SHE DID MENTION THAT SINCE FOUR, NINE, SINCE APRIL 9TH, WE'VE, WE'VE BEEN ABLE TO PROVIDE ASSISTANCE OVER 3,200 CUSTOMERS.

UH, WE'RE DOING THAT THROUGH, IT WILL BE RELATIONSHIPS THAT WE HAVE WITH 56, UH, NOT-FOR-PROFIT PARTNERS, LOCAL CHURCHES, ORGANIZATIONS LIKE TRAVIS COUNTY HEALTH AND HUMAN SERVICES THAT ARE, UM, THROUGHOUT OUR SERVICE TERRITORY.

BUT THEY CAN PROVIDE ASSISTANCE, UH, FAR MORE THAN, THAN UTILITY BY THE WAY.

THEY CAN HELP OUR CUSTOMERS WITH FOOD AND SHELTER IN ADDITION TO UTILITIES AND OTHER SERVICES.

SO THE BOTTOM LINE IS THAT THE CUSTOMERS THAT HAVE NEEDED HELP, I'VE BEEN ABLE TO GET THROUGH VERY QUICKLY THROUGH THE PROCESS AND GET THE UTILITY ASSISTANCE.

AND SO UNLESS THERE'S ANY OTHER QUESTIONS, THAT'S OUR SECOND QUARTER REPORT.

UM, THE GOOD NEWS IS WE'RE FINANCIALLY STABLE AND WE'RE ABLE TO PROVIDE ASSISTANCE FOR OUR CUSTOMERS.

HOWEVER POSSIBLE.

I SAY COUNCIL MEMBER ALTAR HAS A QUESTION.

THANK YOU.

UM, CAN WE GO BACK TO SLIDE 14, UM, WHERE IT INDICATES, UH, UM, DEFICIENCY OF REVENUE OF ACTUAL 65 AND BUDGET OF 53.

AND I UNDERSTAND THAT THERE'S A DIFFERENCE THERE BECAUSE OF TIMING FOR EXPENSES.

UM, BUT WE'RE, CAN YOU EXPLAIN WHY WE'RE RUNNING THE DEFICIT IN THE FIRST PLACE? IS THAT LARGELY BECAUSE WE'RE TRANSFERRING MONEY OVER TO CIP, UM, FOR LONGER TERM CAPITAL INVESTMENTS THAT ARE NEEDED? NO, IT'S BECAUSE, UM, IT ALSO ENERGY.

UM, MOST OF OUR COSTS ARE FIXED COSTS, UM, BUT OUR REVENUES ARE VOLUME METRIC.

AND SO, UM, WE UM, EARN MOST OF OUR INCOME IN THE THIRD AND FOURTH QUARTER.

SO IT IS VERY TYPICAL FOR US TO RUN A DEFICIENCY TO THE FIRST, SECOND AND MAYBE EVEN THE THIRD QUARTER.

UM, AND THEN WE, WE WE FIND CATCH UP IN POSITIVE, UM, REVENUES AT THAT POINT.

SO IT'S NOTHING THAT SURPRISES ME HERE.

UM, OTHERWISE WE'D HAVE TO HAVE, UM, OKAY, LESS REVENUE IN VOLUME METRIC BASIS IN WORD THAT FREED THAT DEFICIENCY FROM HAPPENING.

BUT THIS IS A FUNCTION OF US LOOKING AT THE ACTUAL AND THE BUDGET AND WHAT YOU BUDGETED TO D YOU KNOW, FOR THIS TIME OF THE YEAR VERSUS THE ACTUAL NOT FOR WHAT THE BUDGETED FOR THE WHOLE YEAR.

SAY AGAIN? I DIDN'T FOLLOW.

SO, SO WHAT WE'RE LOOKING AT HERE IS THE ACTUAL OF WHAT WE'RE SEEING THROUGH MARCH 31ST AND WHAT

[00:30:01]

WE BUDGETED THROUGH MARCH 31ST, NOT WHAT WE BUDGETED THROUGH THE END OF THE FISCAL YEAR.

SO IF WE WERE LOOKING AT THE FULL FISCAL YEAR, WE WOULDN'T BE SEEING DEFICIENCIES.

RIGHT.

WE EXPECT TO END THE YEAR WITH, UM, ALSO TO, UH, ACTUAL CLOSER TO OUR BUDGET.

NEVER REALLY DEPENDS ON THE WEATHER.

A REALLY WARM SUMMER.

UM, WE TEND TO RUN EXCESS CAUSE A LOT OF OUR FIXED COSTS ARE COLLECTED IN A VOLUMETRIC CHARGE.

THEY, IF YOU SELL MORE KWH YOU COLLECT MORE REVENUE.

UH, THE OPPOSITE'S TRUE.

IF WE HAVE A VERY MILD SUMMER AND WE DON'T SELL AS KWH SO WE DON'T UM, COLLECT A REVENUE.

MMM, OKAY.

UH, BECAUSE THE MAJORITY OF OUR KWH SALES ARE IN SUMMER AND FALL.

WE HAVE NOT YET EARNED THOSE REVENUES TO COVER THE EXPENSES WE'VE ALREADY INCURRED.

RIGHT.

BUT AT THE END OF THE FISCAL YEAR, WE WOULDN'T BE SEEING LIKE THE BUDGETED AMOUNT FOR THE END OF THE FISCAL YEAR IN TERMS OF THE EXCESS AND REVENUES WOULD NOT BE A LARGE DEAL AT THE END OF THE FISCAL YEAR.

I'M STILL NOT FALLING.

I APOLOGIZE.

SO THAT'S ACTUAL AND BUDGET.

THOSE ARE BOTH JUST FOR THE FIRST TWO QUARTERS OF THE YEAR.

RIGHT.

I'M GUESSING IF I WAS LOOKING AT THIS AND IT WAS THROUGH SEPTEMBER 30TH, WHAT WOULD THAT NUMBER ON THE BOTTOM UNDER THE BUDGET SAY BREAKFAST? EFFICIENCY OF REVENUE? I CAN REAL QUICK HERE.

LET ME JUST HANG ON HERE.

ACTUALLY, I ACTUALLY, I DON'T HAVE THAT NUMBER WITH ME.

UM, YES, I WOULD HOPE IT WOULD BE A LOT CLOSER IF NOT A SLIGHT EXCESS.

UM, AND AGAIN THAT DEPENDS ON WEATHER.

MMM.

WE FORECAST FOR A NORMAL WEATHER YEAR IF IT'S MILDER THAN WE DON'T COLLECT AS MUCH REVENUE IN THE PAST HASN'T HAPPENED.

WHEN YOU FIND A DEFICIT.

IF IT'S A WARMER SUMMER, THEN WE TEND TO RUN AN EXCESS, UM, AT THE END OF THE YEAR.

OKAY.

UM, IF YOU COULD JUST REMIND ME OF WHAT THAT IS AT A LATER DATE, THAT WOULD BE GREAT.

THANK YOU.

ANY OTHER QUESTIONS? I DON'T SEE ANY, I DO HAVE ONE.

I WONDER IF WE COULD GET SOME CLARIFICATION ABOUT THE 3,200 CUSTOMERS WHO PARTICIPATED IN THE PLUS ONE PROGRAM.

ARE THOSE FROM YEAR TO DATE OR ARE THOSE JUST IN THE LAST MONTH? YEAH, THIS IS JERRY SINCE 49.

SINCE APRIL 9TH OF THE YEAR.

FISCAL YEAR TO DATE.

IT'S A LITTLE OVER 7,000.

DO YOU KNOW, SO JUST THAT, JUST IN THAT PERIOD OF TIME, UM, SINCE THE ENROLLMENT WAS EXPANDED FROM FOUR, NINE TO NOW WE'VE HAD THREE 3,200 CUSTOMERS, DO YOU KNOW HOW THAT COMPARES TO AN ORDINARILY TO WHAT IT MIGHT'VE BEEN IN AN ORDINARY GRID? YEP, ABSOLUTELY.

SO REFERRING BACK TO THE DOLLAR AMOUNT, 800 AND IN A LITTLE BIT OVER 30 DAYS, WE'VE DONE ALMOST $900,000.

AN AVERAGE MONTH PRIOR TO COBOT WOULD HAVE BEEN BETWEEN A HUNDRED THOUSAND TO UP TO 200,000 BUT SIGNIFICANTLY MORE HELP AND WE'VE JUST BE GONE.

YEAH.

THANK YOU.

THAT THAT PROVIDES SOME SENSE OF SCALE, THAT IT'S REALLY AS MUCH AS NINE TIMES THE USUAL, THE USUAL ASSISTANCE THAT'S PROVIDED IN THAT SAME TIME PERIOD.

I'LL BE CONSERVATIVE AND I, AND I'LL SAY FIVE, BUT YES.

YEAH, THAT'S RIGHT.

RIGHT NOW, BETWEEN FIVE AND NINE.

UM, DO YOU HAVE A SENSE OF, OF WHAT THE AVERAGE ASSISTANCE IS PER HOUSEHOLD? THAT'S, THAT'S A GOOD QUESTION.

I THINK IT'S TOO EARLY TO, TO, UH, GIVE YOU A, A SPECIFIC NUMBER.

I MEAN, OBVIOUSLY IF I JUST DO THE MATH AND BACK INTO IT, IT'S LESS THAN 300 BUCKS.

UH, BUT WHAT DO WE HAVE TO KEEP IN MIND IS THAT WE'VE ONLY JUST AGAIN BE GONE AND A LOT OF OUR CUSTOMERS THAT ARE ASKING US FOR HELP, UH, YOU KNOW, HAVE ZERO BALANCES BEFORE COLBY, RIGHT? YEAH.

I ASSUME IT VARIES FROM HOUSEHOLD TO HOUSEHOLD IN TERMS OF THE NUMBER OF A WORD.

IT DIDN'T.

SO THAT'S, THAT'S WHY I DIDN'T JUST MAKE THAT DIVISION.

IT WOULD BE USEFUL TO GET SOME UPDATED INFORMATION ABOUT THAT MAYBE AT OUR NEXT, UM, I KNOW WE DON'T MEET FOR AWHILE UNTIL AUGUST, BUT IF, IF THERE IS A, AN OPPORTUNITY FOR YOU TO UPDATE US, THAT MIGHT BE USEFUL INFORMATION TO HAVE.

ARE THERE OTHER QUESTIONS FOR STUFF? WELL, THANK YOU AND THANK YOU AGAIN

[00:35:01]

FOR MAKING THAT, FOR COMING UP WITH THOSE OPTIONS AND MAKING THEM AVAILABLE TO OUR CUSTOMERS DURING THIS PERIOD OF TIME.

ONE OTHER THING THAT I WOULD BE INTERESTED IN KNOWING AS WE, AS WE CONTINUE TO EXPLORE THIS, YOU KNOW, IF OUR STAFF ARE HEARING ANY ANECDOTAL INFORMATION ABOUT WHETHER THERE ARE COMPANIES WHO ARE COMING FORWARD AND PROVIDING UTILITY STIPENDS TO THEIR EMPLOYEES.

IT SEEMS TO ME THAT IN MANY CASES PEOPLE'S PLACES OF BUSINESS ARE NOW, I MEAN IT'S HARD TO KNOW WHAT'S HAPPENING WITH THEIR PLACES OF BUSINESS BUSINESSES, UTILITY COSTS, BUT CERTAINLY SOME OF THAT, SOME OF THAT UTILITY COSTS THAT SOME OF OUR CUSTOMERS ARE FACING IS, IS A DIRECT RESULT OF THEM WORKING FROM HOME.

AND SO THEY ARE ABSORBING A COST THAT WOULD ORDINARILY BE ABSORBED BY THEIR EMPLOYER.

I KNOW WE HAD SOME CONVERSATIONS AT THE TIME THAT THE RESOLUTION WAS GOING THROUGH ABOUT WHETHER THERE WAS A NEED AND AN OPPORTUNITY FOR OUR CITY TO DO SOMETHING LIKE THAT FOR OUR STAFF.

UM, SO I WOULD BE INTERESTED IN KNOWING WHETHER THERE ARE ANY PRIVATE PARTNERS THAT ARE DOING THAT, ARE DOING THAT FOR THEIR EMPLOYEES WHO ARE, ARE TELEWORKING AND HOW THEY COMPUTE, UM, THE SIZE OF THAT ASSISTANCE OF STATE.

SO FOR A FUTURE DISCUSSION IF WE COULD REVISIT SOME OF THOSE ISSUES.

SO I THINK THAT OUR NEXT AND UH, AS I BELIEVE IT TO BE OUR LAST AGENDA ITEM WOULD BE THE UPDATE ABOUT DECKER.

[Item 4]

ALSO HAVE FOLLOWED BY THAT.

UH, MY APOLOGIES.

THANK YOU.

GOOD AFTERNOON MME. CHEN OF THE MEMPHIS CITY COUNCIL.

CAN YOU HEAR ME OKAY, CHARLES, TAKE US AUSTIN ENERGY.

I'LL WALK YOU THROUGH THE OPERATIONAL UPDATE AND GIVING UPDATE ON DECKER AND UH, ANOTHER UPDATE WITH RESPECT TO POWER PRODUCTION.

UH, THAT I THINK YOU ALL WILL BE VERY PLEASED WITH.

UM, SO IF YOU GO TO THE NEXT SLIDE, WELL, I'M NOT CONTROLLING THIS LIE.

OKAY.

SO PER USUAL WHEN TO TALK ABOUT SAFETY, OUR PERFORMANCE, CARBON FOOTPRINT OR TALK ABOUT REDUCTION ACTUALLY, UM, WITH YOUR PERMISSION I WILL SWITCH THE ORDER AND DO ONSITE ENERGY RESOURCES, FUTURE STATE AND FINISH WITH DECKER AND ANOTHER PROPER PRODUCTION UPDATES.

SINCE THOSE TWO, I WAS GOING TO SPEAK TO THE GOVERNMENT.

THAT'S OKAY.

CERTAINLY WHATEVER HAS THE BEST SENSE TO YOU.

SO EVERYTHING HAS ENERGY STARTS WITH SAFETY.

UM, YOU CAN GO TO THE NEXT SLIDE, WHICH IS BETTER THAN THE PREVIOUS QUARTER WHERE WE HAD MORE RED WITH SEEING THAT OUR NEAR MISSES ARE COMING DOWN FOR THIS REPORTING PERIOD.

TOTAL INJURIES ARE COMING DOWN, STILL HAVING SOME CHALLENGES WITH TOTAL VEHICLE ACCIDENTS AND WE CONTINUE TO WORK WITH THE TEAMS AND HAVING THEM SIT AND SUE AND BE CAUTIOUS.

UM, WE ARE CONTINUED TO DEPLOY WHAT I BELIEVE ARE THE MOST RELEVANT AND BEST PRACTICES THAT THERE'S MORE THAN ONE PERSON IN A TRUCK.

I MAY HAVE TO BACK UP ONE PERSON THAT HAS TO GET OUT AND SPOT CHECK THE OTHER PERSON.

WHY ARE THEY BACKING UP? UM, WE CONTINUE TO HAVE THEM SLOW DOWN.

UM, PRIOR TO THE CORVETTE I WOULD SOMETIMES GET UP VERY EARLY IN THE MORNING AND GO TO SOME OF THE YARDS AND CHECK TO MAKE CERTAIN PEOPLE HAVE ON SAFETY BELTS.

UM, SO WE'RE GOING TO GET THEIR SYSTEM OUT OF TIME.

I AM CONCERNED WITH ORDER DISTRACTIONS GOING ON, HOW THESE NUMBERS ARE GONNA LOOK FOR THE NEXT, BUT FOR RIGHT NOW THEY'RE TRENDING IN THE RIGHT DIRECTION.

NEXT SLIDE PLEASE.

UM, SO PERFORMANCE WISE YOU'LL SEE, UM, THAT THE UNIT AVAILABILITY WAS LOWER THAN THE TARGETS.

BUT AGAIN, THIS HAS TO DO WITH SEASONAL OUTAGES WHERE WE TAKE OUT A JUST FOR MAINTENANCE AND THIS IS TO BE EXPECTED.

WE TAKE THEM DURING WHAT WE CONSIDER THE SHOULDER MONTHS, WHAT A PERIODS WHEN LOADS IS TYPICALLY LOW BECAUSE OF A MILDER WEATHER.

NEXT SLIDE.

UH, THIS PARTICULAR SLIDE HERE SHOWING THAT GENERATION, UM, RELATIVE TO LOW, UH, AND WITHOUT GOING INTO TOO MUCH OF THE DETAILS IN THE UPPER RIGHT HAND CORNER, ARE CITIZENS CONSUME TO SLIGHTLY MORE ENERGY THAN WE PRODUCED.

UM, WHICH, UM, A SENSE WE TAKE WHAT WE PRODUCE, WE SELL IT INTO THE AIRCRAFT MARKETING.

WE USE THAT AS WE TALKED ABOUT BEFORE TO OFFSET THE COST OF OUR CUSTOMER'S ENERGY BARRELS.

UH, IN THE UPPER LEFT HAND CORNER IS POWER GENERATION.

UM, CAUSED BY FUEL TYPE IS ALWAYS TRICKY SLIDE, BUT BASICALLY THIS IS THE COST OF THE DIFFERENT FUELS RELATIVE TO COST OF OUR POWER PURCHASE AGREEMENT.

SO RENEWABLES, SO YOU'LL SEE THE RENEWABLES, UM, BASICALLY 64% OF WHAT THAT TOTAL PIE IS.

UH, AND IN A LOWER RIGHT HAND QUADRANT RENEWABLE POWER CONSUMPTION, UH, BASICALLY IT'S 42%.

[00:40:02]

UM, BUT THAT'S GOING TO CONTINUE TO MOVE UP AS WE ENTER INTO NEW RENEWABLE CONTRACTS.

UM, AND UM, CONTINUE TO WORK FOR FINDING BETTER NON-CARBON WAYS TO OFFSET OUR CUSTOMER'S COSTS A LOT.

SYSTEM RELIABILITY CONTINUES TO BE A CHALLENGE.

ONE OF THE THINGS WE'RE GOING TO HAVE TO ASSESS IS THAT OUR PERFORMANCE IS RELATIVE TO TOP DECILE ARE 10% OF OUR COHORT.

WE'RE CURRENTLY IN SECOND QUARTER WHEN ALL OF THESE MEASURES, UM, OUR CUSTOMERS ARE NONE.

THAT'S ALMOST EVERY SINGLE CUSTOMER.

BUT WHEN WE SERVE AS SURVEY THERE AND BY AND LARGE, DON'T RECEIVE A LOT DOTY AS A MAJOR HURDLE.

SECOND QUARTER WAS IN BAD.

IT'S NOT FIRST QUARTER OUT, BUT WE NEED TO TAKE AN ASSESSMENT OR WHAT IS IT GOING TO TAKE FROM AN OPERATIONAL INCARCERATE PERSPECTIVE, EITHER BE FIRST CORE TOWER FIRST DESALLE.

I THINK FIRST OUT, FIRST DECILE MAY BE CAUSING US TO SPEND, UM, A LOT OF MONEY FOR A LITTLE BIT OF GAIN.

WE STILL HAVE ROOM TO GET BACK INTO FIRST QUARTER, BUT WE MAY BE REFLECTION THESE METRICS SO THAT THEY'RE NOT GOING TO BE FIRST.

JUST OUR METRICS.

ANY QUESTIONS AS MOVING ON NEXT SLIDE? SURE.

I DID HAVE A QUESTION.

IF VICE CHAIR HAS A QUESTION.

MR. DICKERSON.

THANK YOU.

ON THE SYSTEM RELIABILITY, THIS IS SHOW THE IMPACTS OF THE, UM, SERIES OF THUNDERSTORMS AND LIGHTNING STORMS THAT WE HAD JUST THE LAST COUPLE OF WEEKS OR THIS JUST, IS THIS THE PERIOD BEFORE A BAND OF MAY, ALTHOUGH COUNCIL MEMBER POOL IS THE PRAY BEFORE THE END OF MAY, SO IT'S THE SECOND TIME RECOVERED AND IN IT.

OKAY.

JUST AN ANECDOTALLY THEN I DID NOT HEAR OF ANY OUTAGES, UM, OUT OF MY DISTRICT.

UM, AND I DON'T RECALL HEARING ANY CITYWIDE.

WERE WE ABLE TO MAKE IT THROUGH THOSE, UM, ELECTRICAL STORMS, UH, IN PRETTY GOOD SHAPE? WE DID, BUT WE WERE IN OUR RETREAT, WE HAD OUTAGES AND WE HAD TEAMS WORKING AROUND THE CLOCK.

THEY DID A REALLY GOOD JOB CONSIDERING ALL THAT GOING ON.

BUT WE DID THAT.

YES.

YEAH.

I'M AWARE OF SUMMON.

A GREAT EXAMPLE.

THIS SLIDE HERE.

UM, IT'S BASICALLY THE PREVIOUS LAB WITH A DIFFERENT VIEW.

UM, SOME PEOPLE ARE BAR GRAPHS, SOME PEOPLE LIKE LINE GRAPHS.

I THINK THE LINE GRAPH TEND TO SHOW MORE OF A TREND.

UH, I CAN LEAVE BOTH OF THEM.

MEN, I'D ASK EUC WHICH ONE THEY WANTED, BUT THE FEEDBACK WAS THEY WANTED BOTH.

UNLESS THERE'S AN OBJECTION, I'LL JUST ADD THIS AND REPORT BOTH VIEWS, UM, TO THIS BODY AND YOU KNOW, YOU CAN QUESTION WHICHEVER THEY CHOOSE LIES.

THEY'RE GIVEN THE SAME INFORMATION.

NEXT SLIDE.

THAT'S FINE.

UM, CARBON FOOTPRINT, YOU'LL SEE THROUGH MARCH, OUR RELIABILITY IS A PERCENT OF LOAD OR WAS SLIGHTLY HIGHER IN FEBRUARY, WAS CONSISTENT WITH JANUARY.

THAT'S BECAUSE WE HAVE MORE WIND PICK IT UP, WHICH ALLOWED OUR RENEWABLES OPERATE MORE.

THIS CHART BASICALLY AS A FUNCTION OF WHETHER THE SUN IS SHINING OR WHETHER THE WIND IS BLOWING TO THE EXTENT THAT THE SUN IS SHINING A LOT AND THE WIND IS BLOWING, OUR RENEWABLES WOULD GENERATE MORE.

AND AS A PERCENTAGE OF LOWELL, THESE NUMBERS WILL BE HIGHER.

THIS IS NOT A PERCENTAGE OF OUR FLEET, WHICH SOME PEOPLE CAN MISINTERPRET IT IS THAT ONCE WE WIND DOWN OUR CARBON, IT'LL CHANGE.

THIS IS A PERCENTAGE OF HOW MUCH ENERGY OUR CUSTOMERS USE, RHODA TO HOW MUCH ENERGY WE GENERATE AS WE UNWIND SOME ALFALFA PLANTS THAT WILL NOT HAVE ANY IMPACT ON HOW TO SLIME IT.

EXCELLENT.

UM, SO DISTRICT COOLING AND CONTINUES TO BE ON TARGET.

UM, WE THOUGHT WE WAS GOING TO HAVE SOME SIGNIFICANT SLOWDOWNS AS RESULT OR COLVIN, BUT WORK CONTINUES TO GROW.

THE THING TO FOCUS ON A SLOT IS ALL WITH EASE.

WE'RE SQUARES, RECTANGLES AND WITH GREEN WE'RE ON TARGET AND OUR AREAS.

AND JUST AS A SLIGHT REMINDER, UM, OUR DISTRICT COOLING, IT ALLOWS US TO COOL WATER OR LIQUID AT NIGHT WHEN ENERGY PRICES ARE LOW AND THEN RUN THAT THROUGH PIPING IN THE CITY TO COOL OFF HOTELS AND OTHER PREMISES WHERE THEY, WE CAN COOL WITH THEM WITHOUT THEM HAVING TO HAVE TO USE ELECTRICITY.

SO IT BASICALLY PROVIDES ANOTHER METHOD OF ROTTEN PULLING WITHOUT HAVING TO USE ELECTRICITY, WHICH MEANS YOU DON'T HAVE TO GO TO ERCOT FOR THAT LOAD, WHICH MEANS IT HAS INDIRECT EFFECT ON THE AMOUNT OF CARBON THAT'S GOING TO BE GENERATED IN THE BROADER ENVIRONMENT.

AND WE'RE ON TARGET AND DOING REAL WRONG HERE.

A SLIDE.

OH, SO WE DID SWITCH THEM.

SO GOOD.

I DON'T HAVE TO GO BACK AND FORTH BETWEEN SLIDES.

SO FEATURE STATE, GENERALLY EVERYTHING'S GOOD.

WE CONTINUE TO HOLD, REDUCE NO FOSSIL FUEL, UM, ITEM RED UNTIL WE, UM, ETHIC THAT.

I MEAN I'M SAD, UM, BUT WE'RE STILL WORKING ON THAT.

[00:45:01]

AS WE DISCUSSED ON ANY EXECUTIVE SESSION, UH, THINGS ARE MOVING ALONG.

THE ONLY THING THAT'S AMA IS OUR ASSET MANAGEMENT.

ALSO ENERGY HAD A VERY, VERY, AND STILL HAS A VERY STRONG TRANSMISSION ASSET MANAGEMENT CONSTRUCT STARTING TO MATURITY, DISTRIBUTION, ASSET MANAGEMENT AND THAT'S COMING ALONG.

UM, BUT I'M A HARD GRADER SO I WON'T ALLOW US TO GIVE OURSELVES A GREEN INTO NEW MOVES.

PASS NEXT LOT.

NOW DECKER, I'LL TALK ABOUT, UM, DECKER.

WE HAVE FILED SOMETHING CALLED A NOTICE OF SUSPENSION OF OPERATION TODAY.

THIS MAKES THE CLOSING OF DECA EVEN MORE REAL.

UM, WE FILED IT WITH AIR-CON LETTING THEM KNOW THAT WE, UH, INTEND TO CLOSE A UNIT 180 DAYS FROM WHEN WE DO THE NOTICE OF SUSPENSION THAT WILL PUT US ON TRACK FOR OCTOBER 31ST.

THEY'VE ACKNOWLEDGED RECEIPT OF THAT OR I TO UM, THIS BE IN PUBLIC.

WE SHARED IT WITH THE PEOPLE AT DECKER WHO WOULD BE THE MOST IMPACTED BY IT.

WE REMAIN STAND BY OUR COMMITMENT.

EVEN THOUGH WE SHUTTING THE FIRST UNIT DOWN, IT'S NOT GOING TO HAVE ANY IMPACT ON THE EMPLOYMENT STATUS AND ANY PEOPLE THERE.

WE WILL HOLD THEM OVER.

UM, AND ONCE THE UNIT IS RETIRED, THOSE PEOPLE WILL STILL BE ON THE BOOKS AND WILL ALLOW THEM MORE TIME GROWING THE COURSE OF THE DAY DURING WORK HOURS TO CONTINUE TO SEE TRAINING OPPORTUNITIES AND CAREER DEVELOPMENT OPPORTUNITIES.

THERE HAS BEEN NO CHANGE SINCE THE LAST UPDATE WITH RESPECT THE PEOPLE AT THE POWER PLANT, WE HAVE HAD NO MORE PEOPLE SEE CAREER DEVELOPMENT OR CAREER COACHING.

WE STILL OFFER A NUMBER OF ONLINE TRAINING TOOLS SO THAT THEY COULD GET TO HONE THEIR SKILLS.

AND THOSE ARE ALWAYS AVAILABLE, BUT THERE HAS BEEN NO CHANGE IN THE NUMBER OF PEOPLE WERE TAKING ADVANTAGE OF IT SINCE THE LAST REPORT.

AND FINALLY WE FILED A NOTICE OF SUSPENSION OF OPERATION WITH NACADOCIOUS OR MAY.

REMEMBER WE PURCHASED THAT FACILITY LAST YEAR OR WE REQUESTED TO BE MOTHBALLED BETWEEN OCTOBER OF THIS YEAR IN MAY OF NEXT YEAR.

WE PRINTED A RUN IT DURING THE SUMMER MONTHS.

UM, MOTHBALLING ALLOW US TO UM, NOT HAVE TO WORRY ABOUT RUNNING IT DURING THE PERIODS OF TIME WHEN IT'S GENERALLY NOT GOING TO BE CALLED.

FOR HIM TO NOTICE THE SUSPENSION OF OPERATIONS ON THE DECLAN ONE IS NOT A MALL FOLLOWED IS A PERMANENT SHUTDOWN REQUEST.

WE'LL WAIT TO HEAR BACK FROM AMERICA.

THAT CONCLUDES MY REPORT.

NOW OPEN FOR QUESTIONS.

THANK YOU VERY MUCH MR. DICKERSON.

COLLEAGUES.

ANY QUESTIONS? FAIR CIRCLE.

THANKS.

UM, NO QUESTIONS.

JUST UH, A HEARTFELT THANK YOU, MR. DICKERSON FOR THAT GOOD REPORT AND FOR THE PROGRESS WE'RE MAKING ON, UH, CLOSING DOWN DECKER AND UH, NACADOCIOUS AND KEEPING US ON TRACK.

THE STAFF.

THANK YOU.

AND THE COUNCIL FOR YOUR LEADERSHIP AND SUPPORTING US AS WE DO WHAT YOU ASKED US TO DO.

NO, IT WORKS.

THAT'S GREAT.

IT SOUNDS FROM YOUR REPORT, UM, AS IF THE OPPORTUNITIES THAT ARE AVAILABLE TO EMPLOYEES WHO ARE CURRENTLY AT DECKER HAVE NOW SHIFTED TO ONLINE, SO THEY ARE STILL ABLE TO ACCESS THOSE WORKFORCE, BUT WORKFORCE ASSISTANCE AND OTHER OTHER THINGS.

YES.

COUNCIL MEMBER, THEY'RE STILL ABLE TO ACCESS TO ALL OF THOSE AND THEY COULD STILL DO THE CAREER COUNSELING, WHICH WOULD BE DONE.

THE WAY WE'RE DOING THIS WITH A VIDEO OR A WEB CHAT IS THIS, NO MORE PEOPLE HAVE AVAILED THEMSELVES OF THOSE OPPORTUNITIES.

I SHOULD ALSO ADD THE TWO PEOPLE HAVE RETIRED SINCE THE LAST UPDATE.

SO WHAT THAT MEANS IS THAT THE NUMBER OF PEOPLE COULD BE POSSIBLY DISAFFECTED, WILL BE SMALLER BECAUSE IT'S TWO LESS PEOPLE GO TO WHEREVER.

DO YOU HAVE A SENSE OF, CAN YOU REMIND US OF INDIVIDUALS? UH, THE ROBBERY.

OH, JONATHAN, I DON'T HAVE THOSE NUMBERS OFF OF MY HEAD.

RIGHT.

I'LL LOOK BACK AT OUR LAST, I MEAN IF YOU TELL ME WE CAN JUST, WE CAN SIMPLY ADD IT TO THE OR SUBTRACT IT FROM THE LAST.

UM, HAVE YOU DONE ADDITIONAL OUTREACH TO THE EMPLOYEES TO LET THEM, LET THEM KNOW WHAT KINDS OF RESEARCH? JUST TO REMIND THEM OF THE RESOURCES THAT EXIST.

WE REMIND THEM, UH, AT MY VICE PRESIDENT LEVEL MONTHLY, THE PLANT MANAGER REMINDS ME, MMM MMM.

THERE THE, THE FAILURE TO HAVE MORE PEOPLE SIGN UP FOR THE RESOURCES IS NOT, UH, AS A RESULT OF NOT HAVING NOTIFICATION AND UNDERSTANDING.

I'VE BEEN OUT THERE MANY TIMES GENERAL MANAGER AS SOME PEOPLE ARE LESS INTERESTED IN OTHERS AND MAYBE SOME PEOPLE WAITING FOR THEIR RETIREMENT DATES.

I SEE.

THANK YOU.

[Item 6]

ARE THERE ANY, UM, ADDITIONAL AGENDA ITEMS THAT ANYONE WANTS TO TALK ABOUT UNDER NUMBER SIX FOR FUTURE MEETINGS?

[Item 1 (Part 2 of 2)]

NO, I THINK THAT JUST OUT OF AN ABUNDANCE OF CAUTION, IT WOULD BE WORTH TAKING THE VOTE AGAIN FOR THE MINUTES.

I DON'T,

[00:50:01]

I THINK THAT AT VARIOUS TIMES PEOPLE HAVE BEEN OFF CAMERA AND I THINK THE REQUIREMENT IS THAT WE ALL BE ON CAMERA, AT LEAST SIX OF US TO BE ON CAMERA.

SO I FORGOTTEN WHO MADE THE MENTION.

I THINK IT WAS A VICE CHAIR MADE THE MOTION TO APPROVE THE MINUTES.

IS THAT CORRECT? UM, WHO WAS SECONDED IT.

WELL, IF SOMEBODY WOULD JUST SECOND THIS MOTION, JUST AFFIRMING OUR APPROVAL OF THE MINUTES.

COUNCIL MEMBER ALTAR.

THANK YOU FOR IN FAVOR OF THE APPROVAL OF THE MINUTES.

IF YOU JUST SIGNAL AGAIN MADAM CHAIR, I APOLOGIZE.

THIS MAY BE A BREACH OF PROTOCOL.

I MISSPOKE.

I SAID 188 I HAD SOMETHING ELSE IN MY MIND.

IT SHOULD BE UP AND DIDN'T 50 DAYS FROM THE NOTICE OF SUSPENSION.

I DON'T WANT THE MINUTES TO BE APPROVED WITH THE WRONG NOTE IN THERE, SO IT'S FROM A SUSPENSION.

THANK YOU.

UM, AND SO THANK YOU VERY MUCH.

SO THOSE WILL BE THE MINUTES THAT WE APPROVE NEXT TIME AROUND, BUT THANK YOU FOR THAT.

THANK YOU FOR THAT CLARIFICATION.

THAT IS REALLY IMPORTANT.

UM, AND THANK YOU COLLEAGUES FOR REAFFIRMING OUR APPROVAL OF THE MINUTES, JUST SO THERE'S NOT ANY, ANY ISSUE THERE.

UM, SAYING NO OTHER BUSINESS BEFORE US.

THEN AT RE STAND ADJOURNED.

THANK YOU ALL.

THANKS EVERYBODY.

THANK YOU.

.

* This transcript was compiled from uncorrected Speech-to-Text.