I MINUTES OF THE 2 BOUNTIFUL LIGHT & POWER COMMISSION 3 May 27, 2025 - 8:00 a.m. 4 5 Those in Attendance 6 7 POWER COMMISSION POWER DEPARTMENT 8 Susan Becker, Chairman Allen Johnson, Director 9 Dan Bell, Commissioner Alan Farnes, Generation Supt. 10 John Marc Knight, Commissioner Jess Pearce, Supt. ofOperations 11 Matthew Myers, Commissioner Tyrone Hansen, Accountant 12 Jed Pitcher, Commissioner. Luke Veigel, Engineer 13 Cecilee Price-Huish, City Council Rep Nancy Lawrence, Recording Secretary 14 15 EXCUSED VISITOR 16 David Irvine, Commissioner Gary Davis 17 18 WELCOME 19 Chairman Becker called the meeting to order at 8:00 a.m. and welcomed those in 20 attendance. The prayer was offered by Alan Farnes. 21 22 MINUTES - APRIL: 22, 2025 23 Minutes of the meeting oft the Bountiful Power Commission held April 22, 2025, were 24 presented and approved as corrected (showing David Irvine in attendance as a Power 25 Commissioner). Councilman Bell made the motion to approve, and Commissioner Pitcher 26 seconded the motion. Commissioners Becker, Bell, Knight, Myers and Pitcher and 27 Councilwoman Price-Huish voted "aye". 28 29 BUDGET REPORT - YEAR TO DATE 9 MONTH PERIOD 30 Mr. Hansen presented the Budget Report for the Year to Date 9-Month period ended 31 March 31, 2025. Total Revenues YTD were $28,747,292, above the HAB by $1,841,274. The 32 major items above budget were: Electric Metered Sales at $1,337,777, 5.7% above its HAB; 33 Air Products income, $40,389 was above its HAB with an average load factor of 65.8%; Sundry 34 Revenues were $150,695 above its HAB, and Interest Income on Investments was above its 35 HAB by $356,394. Contribution in Aid to Construction was $(57,040), below its HAB. Pole 36 rental income was below: its HAB by $(13,337). 37 38 Total Operating Expenses YTD were $23,078,481, below the HAB by $559,468. Power 39 Cost Expense was below its HAB at $419,796 (Power Generation was under $293,000 and 40 Power Resources Cost was under $126,000). Other operating expenses that were below the 41 HAB were Distribution Expense at $229,451; Transformer Expense at $90,340, Office and 42 Warehouse Expense at $79,564, and Substation Expense at $100,587. Operating Expenses that 43 were above the HAB were Hydro Transmission Expense at $(639,008), Vehicle Expense at 44 $(11,395) and the Transfer to the General Fund Expense at $(44,037). Page 1 of 4 (PC minutes May 27, 2025) 1 Total Capital Expenditures YTD were$1,740,786, which included $41,000 at 400 South 2 Main, $154,000 for Feeder 572/574 tie, $163,000 for Vehicles, and $1,300,000 for the 3 Northwest Substation. 4 5 Total Labor and Benefits were $3,784,276. As of 15 March, the last pay period paid in 6 the YTD period), 70.7% or $4,228,220 could have been spent; the actual TL&B was $443,944 7 below that target. 8 9 The Net Margin for the YTD was $3,928,024, as revenues are above budget and power 10 costs are coming in under budget. 11 12 Total cash and equivalents were a net $26,093,879 at month end, up $3,033,506 from 13 $23,060,363 at 30 June 2024, and $9,919,879 above the $16,174,000 total reserved cash 14 requirement. Major sources and (uses) of cash at month end compared to fiscal year-end 2024 15 included the $1,245,479 decrease in total accounts receivable; increase of $(964,437) in total 16 inventories; decrease in total accounts payable $(428,002); $(123,562) decrease in Accrued 17 benefits and payroll; and the $(646,917) decrease in other equity (excluding the net margin). 18 19 Discussion followed regarding the current budget position VS what it will be at the end 20 of the year when major capital projects had been completed and Mr. Hansen noted that HAB 21 reflects more of an averaging ofs seasonal expenditures/ncome than an actual 10-year historical 22 average. The staff does not anticipate the need to open the budget at the year end. Further 23 discussion focused on a comparison between the rate structure of Rocky Mountain Power and 24 Bountiful Light and Power, and how BL&P compares with other municipal utilities. Mr. 25 Johnson suggested that it would be appropriate to do an analysis and comparison ofBL&P with 26 other utilities after the end of this budget year, to include where we are moving forward with 27 maintenance and resource costs. Commissioner Myers made a motion to accept the budget 28 report as presented, and Councilwoman Price-Huish seconded the motion which passed 29 unanimously. Commissioners Becker, Bell, Knight, Myers and Pitcher and Councilwoman 30 Price-Huish voted "aye". 31 32 1272 ACSR APPROVAL FROM ANXITER 33 Mr. Farnes reported that we are planning a complete rebuild oft the Northwest Substation 34 which is scheduled to begin September 2025. Materials for this project are currently being 35 ordered to optimize the goal of delivery of the materials to meet this project deadline. This 36 project will require the rebuilding of a portion of the transmission lines coming into the new 37 substation and requires the purchase of 4,000 feet of 1272 Aluminum Conductor Steel 38 Reinforced (ACSR) wire to complete the work. Quotes were requested from several suppliers 39 and two responded. Iti is the staff recommendation that the quote from Anixter in the amount 40 of $5.29 per foot (low bid) with a total price of $21,160 be approved. Commissioner Knight 41 made a motion to this effect, Commissioner Myers seconded the motion, and voting was 42 unanimous in the affirmative. Commissioners Becker, Bell, Knight, Myers and Pitcher and 43 Councilwoman Price-Huish voted "Aye". 44 45 S&C PMH-9 AND PME-11 APPROVAL FROM IRBY Page 2 of 4 (PC minutes May. 27, 2025) 1 Mr. Pearce explained that we need to purchase an S&C PME-11 and a PMH-9 2 underground junction switch. One is to replace our inventory for a failure on the system and 3 the second unit will be used at the Renaissance Center. He said that we always keep at least 4 one of each types oft these switchgears in inventory as a backup for emergencies. He explained 5 that we have standardized on S&C pad mounted switchgear, SO that we can change them in an 6 emergency or due to routine maintenance without needing to pull in new cable. This helps keep 7 our inventory costs lower. 8 9 The gear is a single source item and we have received a quote from Irby for the PME- 10 11 and PMH-9 pad mounted switchgear, and the necessary fuse holders, in the amount of 11 $47,510. Staff recommended this quote be accepted. This switchgear will be purchased and 12 placed into inventory until it is installed on the system. Current delivery time is quoted at one 13 year. Councilwoman Price-Huish made a motion to approve the quote from Irby in the amount 14 of $47,510 as recommended by staff. Commissioner Bell seconded the motion. Voting was 15 unanimous in the affirmative with Commissioners Becker, Bell, Knight, Myers and Pitcher, and 16 Councilwoman Price-Huish voting "aye". 17 18 RESOURCE UPDATE 19 Mr. Johnson referred to the proposed marketing plan that is anticipated to be 20 implemented in the near future where UAMPS will become the entity that bids on power 21 resources on a daily basis, thus removing this function from BCL&P. FERC has ruled on 22 everything they need to and UAMPS is in the process of obtaining a $500 M bond to work 23 through the process. A more in-depth report on what is happening on this issue will be 24 presented at the next Power Commission meeting. 25 26 Mr. Johnson reviewed in general that the other options for BCL&P moving forward 27 would be to maintain control of our hydro and plant resources and relying on UAMPS for 28 market resources; and releasing all of our resources to UAMPS. Discussion focused on the 29 general implications associated with these options, and a comparison with what other 30 municipalities are/may do. 31 32 Wildfire costs and associated issues were discussed and it was noted that current 33 hearings related to this must be filed by June 2027. 34 35 The following items were included in the packet, but not discussed in the meeting. 36 37 POWER SYSTEM OPERATION REPORT 38 a. March 2025 Resource Reports 39 b. April 2025 Lost Time/Safety Reports 40 C. April 2025 Public Relation Reports 41 d. March 2025 Outage Reports 42 43 OTHER BUSINESS 44 Chairman Becker requested that a comparative rate study (BCL&P VS other 45 municipalities and Rocky Mountain Power) be scheduled for the August 2025 meeting. 46 Page 3 of 4 (PC minutes May 27, 2025) 1 A straw count was taken for attendance at the upcoming APPA conference in New 2 Orleans in June. Commissioners Knight and Bell said they plan to attend. 3 4 NEXT MEETING 5 The next meeting will be held June 24, 2025 at 8:00 a.m. 6 7 ADJOURN 8 The meeting adjourned at 9:25 a.m. on a motion made and seconded by Commissioner 9 Myers and Councilwoman Price-Huish, respectively. Voting. was unanimous with 10 Commissioners Becker, Bell, Knight, Myers and Pitcher, and Councilwoman Price-Huish 11 voting "aye". 12 13 14 Juadn Beckel 15 Susan Becker, Chairman Page 4 of 4