1. APPROVAL OF AGENDA AND ANY ADDITIONS

2. CONSIDER MINUTES OF NOVEMBER 26, 2019 MEETING

3. CONSIDER BI-ANNUAL WRITE-OFFS

4. DISCUSS TVA HOME UPLIFT PROGRAM

5. DISCUSS BOARD’S WISHES FOR RATE DESIGN TO DISTRIBUTE TVA 3.1% CREDIT

6. CLOSED SESSION UNDER KRS 61.810(1)C TO DISCUSS DEFAMATION LITIGATION

7. CONSIDER 2020 EPB PAY PLAN

8. CONDUCT PERFORMANCE EVALUATION OF SUPERINTENDENT

9. SUPERINTENDENT’S REPORT

A. NOVEMBER METRICS AND FINANCIAL METRICS REVIEW

B. JANUARY FCA

C. CPD LEDGER

D. WINDSTREAM BANKRUPTCY

E. EPB INTERNET SPEED UPGRADE

F. PROGRAMMING COMMITTEE ISSUES

10. ADJOURN

TO: Members of Glasgow Electric Plant Board

FROM: William J. Ray, PE

DATE: 12/13/2019

SUBJECT: Board Meeting Information

December Main Topics

Ø Accounts to be Written Off

Ø TVA Home Uplift Program

Ø Discuss Options for 3.1% Credit Disbursement

Ø Review and consider EPB Pay Plan for 2019

Ø Evaluate Superintendent’s Performance

Ø EPB Internet Speed Upgrade

Action Items

📷

January 1 FCA

Ø The January 2020 TVA FCA is projected to decrease to 1.715 cents per kW. Since the meeting is a week early, final TVA figures on the FCA are not yet available.

Ø On January 1, the energy component of our retail rates will adjust to reflect the actual change when it is posted by TVA.

Bi-Annual Write Offs Report and Recommendation

Ø List of accounts proposed to be written-off is provided as an attachment.

Ø Superintendent will review the list of accounts with board and make a recommendation.

TVA Home Uplift Program Under TVA’s Energy Right Bundle

Ø TVA has just announced a new feature of its Energy Right Solutions package, and it is called Home Uplift.

Ø The new program is targeted at making energy efficiency and healthy livability improvements to the homes of low-income families who occupy their own home.

Ø The money available for each LPC is based upon a formula, wherein our electric revenue determines the amount of that revenue TVA will allow us to commit to the program, and then TVA adds to that amount with a partial match.

Ø In Glasgow’s case, TVA would allow us to commit $56,000 to the program, and they would match it with $19,250.

Ø More details on this opportunity to deepen EPB’s commitment to stewardship in the low-income community will be provided at the meeting.

EPB Options for Dispersing the 3.1% Wholesale Credit from TVA

Ø With the execution of the TVA Long Term Partnership Agreement last month, EPB will be receiving a 3.1% wholesale bill credit from TVA each month (amounting, on average, to something over $40,000 per month with present rates).

Ø The Board will be asked to give directions on how that money is to be utilized and dispersed.

Discussion of Possible Defamation Action in Executive Session

Ø The Board will consider entering Executive Session under KRS 61.810(1)(c) to hear recommendations from Jeremy Rogers, Partner with the Dinsmore law firm.

Annual EPB Pay Plan Review

Ø Per the Board’s long-standing directions, a survey of the pay plans of peer utilities has been conducted.

Ø This year, the delta between EPB Hourly pay rates and the average of the peer group was found to be 3.3%.

Ø Superintendent will recommend a 2.9% adjustment to hourly position pay rates for 2020, along with corresponding adjustments to the midpoints of the six EPB merit pay grades.

Ø Nationwide CPI change over the 12 months ending in November, as reported by Bureau of Labor Statistics, is 2.1% https://www.bls.gov/news.release/cpi.nr0.htm

Ø Superintendent will recommend budgets for hourly, merit, apprentice, and retirement/replacements for 2020.

Performance Review of Superintendent

Ø A performance review of the Superintendent is customarily performed during the December meeting.

Reports

Ø Metrics and Financial Review

Ø January FCA

Ø CPD Charge Reserve Fund Status

- kW demand markup was implemented two years ago, to cover TVA wholesale cost for missed peak predictions

- Updated calculations will be presented at the meeting if available. The fund is in acceptable shape due to overall accuracy of peak predictions, but the problems with accuracy in 2019 have hurt the fund.

Ø Windstream Bankruptcy

Ø End of Year Internet Upgrade Plans

- EPB has historically recognized the value of its internet access products and the customers who use the product, by performing the necessary work to upgrade speed offerings each year.

- The authorization by the board has allowed us to procure the necessary hardware and software upgrades to upgrade speeds again this year, and those upgrades have been successfully installed, with little interruption to customer services. This process began one year ago, with engineering design work done on the network, followed by construction activity by EPB crews to carry out the plans, without objectionable outages to customers.

- This year our speed increases concentrate on uploads. We have just announced that our products are upgrading to 25/5, 50/10, and 100/20 MBPS (500% faster upload speeds)! This new upload speed will dramatically improve our network performance for businesses and those who work from home. Best of all, we’re providing this new functionality without increasing rates!

Ø Programming Committee Issues

Conclusion

Please let me know if you have any questions before the meeting.

NOVEMBER 26, 2019, 6:00 PM

1. APPROVAL OF AGENDA AND ANY ADDITIONS

2. CONSIDER ENTERING EXECUTIVE SESSION PER KRS 61.810 (1) (g)

3. CONSIDER ENTERING EXECUTIVE SESSION PER KRS 61.810(1)C

4. MINUTES OF OCTOBER 22, 2019 MEETING

5. REPORT ON IN LIEU OF TAX PAYMENTS FOR 2019

6. CONSIDER FORMAL TARIFFS FOR RETAIL RATES APPROVED BY TVA

7. DISCUSS CONSULTANT PROPOSALS

8. CONSIDER TVA LONG TERM PROPOSAL

9. SET DECEMBER MEETING DATE

10. SUPERINTENDENT’S REPORT

A. OCTOBER METRICS AND FINANCIAL METRICS REVIEW

B. DECEMBER FCA

C. CPD LEDGER

D. WINDSTREAM BANKRUPTCY

E. RBG FOUNDATION

F. CHANNEL 9 REPLACEMENT

11. ADJOURN

TO: Members of Glasgow Electric Plant Board

FROM: William J. Ray, PE

DATE: 11/21/2019

SUBJECT: Board Meeting Information

November Main Topics

Ø Report from Ron Bunch (invited) with Barren County EA

Ø Consideration of TVA Approved Retail Rates for January 1

Ø Discussion of Proposals from Consultants

Ø Discussion of TVA Long Term Offer

Ø Reports

📷December 1 FCA

Ø The December 2019 TVA FCA will decrease to 1.747 cents per kWh. This small decrease is actually surprising, since TVA had forced outages to Nuclear units at Watts Bar, and since water reserves were lower, making hydro generation less available. TVA’s explanation is that October sales were in line with predictions, and coal fired generation was low-cost and available, while purchases from neighbors were negligible.

Ø On December 1, the energy component of our retail rates will adjust to reflect this anticipated increase to the wholesale cost of energy.

Action Items

Approval of Agenda and any New Items Desired by Board

Ø The present proposed agenda is attached to this narrative, but, as always, any board member can ask for additional items to be added, or placed in a different order.

Review and Approve Minutes of October 22, 2019 Meeting

Ø This is the customary review and consideration of formally adopting the proposed minutes for the last meeting.

Ron Bunch – Barren County EA to Address Board – Executive Session

Ø Ron Bunch is the Executive Director of the Bowling Green Area Chamber of Commerce, and he is acting as interim Executive Director of the Barren County Economic Authority, until January 1 when the new Executive Director arrives. He has been invited by Chairman Taylor to address the Board in Executive Session, relative to ongoing discussions with an industry that is showing great interest in locating in Glasgow, and what part EPB plays in the efforts to land this business in Glasgow.

Ø You will be asked to consider going into Executive Session under KRS 61.810 (1) (g), which allows “Discussions between a public agency and a representative of a business entity and discussions concerning a specific proposal, if open discussions would jeopardize the siting, retention, expansion, or upgrading of the business.” No action from this report is likely, but it is very important that the Board understand the ongoing discussions.

Second Executive Session

Ø Chairman Taylor will ask for a second Executive Session under KRS 61.810(1)C, which will allow the Board to discuss possible litigation regarding libel, slander, and defamation.

Ø The second session will be, if approved, conducted immediately after the first closed session.

In Lieu of Taxes Report

Ø One of the ways that a municipally owned utility, like Glasgow EPB, is different from investor owned utilities (like KU or LG&E) and cooperatives (like FRECC) is that we are required to make payments to local taxing authorities. These payments are based upon a complicated formula, but mostly the payments are based upon the value of our plant.

Ø This year those payments to local schools, governments, the library, and the ambulance service, total over $412,000. This is money that these local agencies would not receive if Glasgow EPB were not municipally owned.

Ø I will have a detailed report on how much we are sending to each agency at the meeting.

Final Approval of 2020 Retail Electric Rates

Ø A couple of months ago, the Board accepted the results of our 2019 rate effectiveness study and the recommended changes which flowed from the study. These recommendations included continued increases in the Customer Charge and corresponding reductions in kWh and delivery charges, such that EPB continues to progress toward a 100% non-volumetric retail rate architecture.

Ø The Board also directed me to seek the approval of TVA for the rate changes, and that process is now complete. Of course, the process was complicated by the parallel rate change recommendations which were presented due to the possible 3.1% wholesale rate reductions which would flow to EPB customers, if the Board accepted the TVA Long-Term Partnership Agreement. Since the Board has yet to act on that offer, the approved rates are based upon existing TVA wholesale rates, and the modifications we discussed in September.

Ø The tariffs attached to this narrative are mostly identical to those proposed at the earlier meeting, but for a few small changes due to some tweaks requested by TVA in the review process. None of the changes are material.

Ø It should be noted that these changes will result in a net rate decrease, because the increases to Customer Charges are more than offset, in the aggregate, by reductions in delivery charges and kWh charges.

Discussion of Consultant Proposals

Ø At the last meeting there was considerable discussion about the possibility of EPB hiring and independent, yet well qualified, consulting firm to advise EPB on a variety of topics, like rates, the TVA Long Term Partnership Agreement, and other long-range concepts about the future of Glasgow EPB.

Ø Two proposals were submitted at the meeting. One from ICF Resources, LLC and the other from GDS Associates, Inc. A Board committee was appointed to review the proposals, and I was asked to review the proposals and submit my remarks and findings to the Board. I submitted those comments to the Board via email on October 30.

Ø I have not been informed about any deliberations by the committee, but this item is placed on the agenda so that full discussion of the proposals, and the wisdom of accepting either of them, can continue.

The TVA Long Term Partnership Proposal

Ø Depending on the result of the consultant consideration above, this item might need to be on the agenda. If the board elects not to hire a consultant and, instead chooses to authorize me to execute the TVA Long Term Partnership Agreement, we could still enjoy the cost savings that result from the 3.1% wholesale power cost credit, which would become effective immediately.

Ø As I stated last month, this is a very complicated matter, but the simple elements are: TVA is willing to give LPCs a 3.1% credit to their power bills (for Glasgow, that means about $500,000 per year), and they also want LPCs to alter their power contract to make the term a rolling 20-year agreement instead of the rolling 5-year term.

Ø So far, Glasgow has missed three months of the 3.1% wholesale rate credit from TVA, which is a component of executing the Long-Term Partnership Agreement. The approximate money left unclaimed by Glasgow EPB, as a result of not executing the agreement, is $123,000, and that amount will increment again on December 1.

Ø Attached to the narrative is a red-lined version of the agreement, which shows the additional explanatory language TVA agreed to add as a result of conversations with TVPPA. Please review the changes, as I believe the updated document fully addresses any reservations which were expressed earlier.

December Meeting Date

Ø The last action item will be for the Board to set a date for the December meeting.

TENTATIVE REGULAR MEETING AGENDA

GLASGOW ELECTRIC PLANT BOARD

OCTOBER 22, 2019, 6:00 PM

1. APPROVAL OF AGENDA AND ANY ADDITIONS

2. CONSIDER MINUTES OF SEPTEMBER 24, 2019 MEETING

3. RECEIVE AUDIT REPORT FROM CARR, RIGGS, & INGRAM

4. MAYOR ARMSTRONG REMARKS

5. CONSIDER BIDS FOR 69 KV SYSTEM REFURBISH LABOR

6. CONSIDER TVA LONG TERM PROPOSAL

7. CONSIDER PROGRAMMING COMMITTEE RECOMMENDATION

8. SUPERINTENDENT’S REPORT

A. SEPTEMBER METRICS AND FINANCIAL METRICS REVIEW

B. NOVEMBER FCA

C. CPD LEDGER

D. WINDSTREAM BANKRUPTCY

9. ADJOURN

TO: Members of Glasgow Electric Plant Board

FROM: William J. Ray, PE

DATE: 10/18/2019

SUBJECT: Board Meeting Information

October Main Topics

Ø Annual Audit Report

Ø Consideration of Labor Bids for Transmission Line Refurbishment

Ø Discussion of TVA Long Term Offer

Ø Programming Committee Recommendation

Ø Reports

📷November 1 FCA

Ø The November 2019 TVA FCA will increase to 1.758 cents per kWh. This is the second monthly increase to the FCA in the last few months. TVA’s explanation is that September sales were much higher than had been forecast, and the extremely hot weather, combined with a forced nuclear outage and low hydro resources, resulted in increased fuel costs. These increases came from purchasing more coal and from buying more power from neighbors.

Ø On November 1, the energy component of our retail rates will adjust to reflect this anticipated increase to the wholesale cost of energy.

Action Items

Approval of Agenda and any New Items Desired by Board

Ø The present proposed agenda is attached to this narrative, but, as always, any board member can ask for additional items to be added, or placed in a different order.

Review and Approve Minutes of September 24, 2019 Meeting

Ø This is the customary review and consideration of formally adopting the proposed minutes for the last meeting.

Audit Report from Carr, Riggs, & Ingram

Ø Lanny White, from Carr, Riggs & Ingram, will deliver the annual report on findings by the team of auditors who examined all EPB finances and methods of operating the business, for Fiscal 2019.

Ø Copies of the report will be shared with the City of Glasgow, and I will appear before City Council in November, or December (whenever I can get on the agenda) to discuss the audit and other 2019 activities of Glasgow EPB.

Mayor Armstrong Remarks

Ø The Mayor has requested time on the agenda to make some remarks. Nothing further is known about this item.

Bids for Transmission Line Refurbishment Labor

Ø A couple of months ago we awarded bids to various vendors for hardware and materials needed for this project.

Ø On October 18 we opened bids for the labor necessary to install the hardware previously ordered to complete the transmission line work. At the meeting I will review the bids, and our budget for the work, and make a recommendation to the Board for approval of the best labor vendor for the project.

Consideration of TVA Long Term Offer

Ø This matter was discussed at the last meeting, but there was no resolution to the matter. Since then, considerable discussion on the issue has taken place in the community.

Ø TVA’s new CEO has proposed a novel approach to the problem of declining energy sales and TVA’s need to modernize its generation fleet. That proposal is outlined in a document attached to this narrative, entitled “Long-Term Agreement.”

Ø This is a very complicated matter, but the simple elements are: TVA is willing to give LPCs a 3.1% credit to their power bills (for Glasgow, that means about $500,000 per year), and they also want LPCs to alter their power contract to make the term a rolling 20-year agreement instead of the rolling 5-year term.

Ø Some local opponents to the offer seem to base their opinions on a recently published article by Daniel Tait – representing the Energy and Policy Institute. Since this is such a critical decision for the Board, I’ve written a response to that article, so that the Board will have access to a better-rounded set of facts than the opinions presented in the Energy and Policy Institute article. My response is as follows:

o In a September 22, 2019 article, authored by Daniel Tait, and published by Energy and Policy Institute, TVA is condemned for offering a modified power contract which includes an extended term, in return for certain concessions. These concessions are not minor. A 3.1% credit on their wholesale power billing to local power companies (LPCs), coupled with TVA’s first offer to allow LPCs to make some of their own power, is a very big deal for TVA and the LPCs. Over 85% of the 154 TVA LPCs have already taken the offer. In examining this article, it is first important to know who Daniel Tait and the Energy and Policy Institute appear to represent. They represent the loose association of those renewable energy industries that want to replace the big power companies, like TVA, with the technologies that they find most profitable. In fact, they really want retail power costs to steadily increase, such that their replacement technologies are more economically attractive when compared to utilities. One cannot blame them for trying to be more profitable, but also the buyer should beware of whom they are accepting opinions from, when articles like this one are published.

o It is notable that the author didn’t contact TVA for their input to the story, and much of the information which is available regarding TVA’s renewable energy portfolio, was ignored and omitted. Further, after speaking with BGMU representatives, I determined the author did not speak with them either, and likely didn’t contact other LPCs that they described in the article. No link to the CFC analysis is provided, so the reader is left wondering just what assumptions were used, when this study supposedly revealed the wide disparity between TVA wholesale rates and those of Kentucky Utilities, Duke, or MISO. Was this a cobbled together, apples vs. oranges analysis? It seems more likely than not.

o Though the article does a fair job of identifying the underlying fiscal elements of the offer relative to power cost, and the decisions required by the LPCs thereupon, the author totally misses many other factors which will impact these decisions. The article curiously laments the wisdom of signing a contract with a twenty-year notice provision, while suggesting that many LPCs might be able to build new transmission facilities that could pay for themselves over a twenty-year, or less, period. In Glasgow’s case, such new facilities could easily cost over $100 million. Thus, they are suggesting that a twenty-year agreement with TVA is constraining, while a twenty-year bond issue to finance the duplication of transmission facilities that already exist, is somehow liberating.

o The LPC-TVA relationship is more complex than the simple determination of who might provide the cheapest flow of electrons in the future, and over 85% of the LPCs have already processed the information and chosen to sign the new agreement. In doing so, it must be presumed that those LPCs value the 3.1% wholesale bill credit (which is worth about $500,000 per year to Glasgow’s customers), as well as TVA’s diverse portfolio of generation assets. TVA’s diverse portfolio of generation provides the comfort of knowing that, whatever the future holds with respect to one method of generating power, TVA has several other options at their disposal. They value TVA’s 86- year history of improving the environment of the seven states they serve, and TVA’s record of providing 99.999% reliability is a huge accomplishment. Glasgow and the other LPCs cherish the partnership with TVA that allows very small LPCs access to TVA’s expertise when certain technical facets of our distribution system present problems which challenge us. TVA provides its LPCs with backup mobile substations, which keep our customers in service, even after a catastrophic failure of a major substation component. TVA is also still close to its original mission of inventing ways to improve the operation of the grid, and the LPCs enjoy being a part of the research and development efforts which TVA undertakes, completes, and makes available to their LPCs.

o While it is understandable that Energy and Policy Institute wants to make its funders happy by promoting more use of solar, and other renewable generation options, it isn’t okay to do that by attacking TVA. While it is true that TVA could do better, especially in the field of promoting renewable resources and allowing its LPCs to provide same to their respective communities, this agreement opens the door to doing just that.

o At the meeting, Ernie Peterson will be present to answer any questions about the proposed agreement that come up. Like I said, this is a complicated matter which deserves ample consideration. But, as depicted by the average bill impacts presented last month, the agreement gives the Board an opportunity to reduce power bills for everyone.

Consideration of Programming Committee Recommendations

Ø The Committee considered programming service renewal proposals from Fox-owned networks – FX, FXX, FXM, NatGeo, and NatGeo Wild.

Ø The renewal proposals cover only 2020 and 2021, and, if accepted, will add 14 cents per subscriber in programming cost for 2020, to the Essential Tier.

Ø The programming cost would increase 3 cents per subscriber to the Premier Tier for 2020.

Ø The Programming Committee met and considered the cost and benefits of accepting the renewal proposals and unanimously voted to recommend we accept the offer.

Reports

Ø SEPTEMBER METRICS. Superintendent will do a brief review of the performance of the Glasgow EPB metrics for September.

Ø NOVEMBER FCA. The Superintendent will go over the upcoming change to the Fuel Cost Adjustment for November, as dictated by TVA.

Ø CPD LEDGER. Since we altered our Variable Rate, at the request of an Advisory Council of our customers, to limit our peak predictions to four days per month, we have financial exposure when we miss the correct actual peak hour. To compensate for that exposure, we added a small amount to the wholesale cost of a peak kW, to collect funds to pay for missed predictions. The Superintendent will report on the status of that fund thus far in the fiscal year.

Ø WINDSTREAM BANKRUPTCY. Windstream Holdings (parent company of Windstream Company in Glasgow) filed Chapter 11 bankruptcy early this year. There is a large outstanding debt which is owed to EPB (about $40,000 now). To protect our interests and work to secure payment, as well as a suitable new relationship with Windstream going forward, I have engaged Scott Bachert, with the firm Kerrick Bachert PSC, to represent us in this matter. There will be a report on the progress at the meeting.

Conclusion

Please let me know if you have any questions before the meeting.

TENTATIVE REGULAR MEETING AGENDA

GLASGOW ELECTRIC PLANT BOARD

SEPTEMBER 24, 2019, 6:00 P.M.

1. APPROVAL OF AGENDA AND ANY ADDITIONS

2. CONSIDER MINUTES OF AUGUST 27, 2019 MEETING

3. CONSIDER REVIEW OF ELECTRIC RATE PERFORMANCE AND POSSIBLE APPROVAL OF RATE CHANGES

4. CONSIDER TVA LONG TERM PROPOSAL

5. CONSIDER PROGRAMMING COMMITTEE RECOMMENDATION

6. SUPERINTENDENT’S REPORT

A. AUGUST METRICS AND FINANCIAL METRICS REVIEW

B. OCTOBER FCA

C. CPD LEDGER

D. WINDSTREAM BANKRUPTCY

7. ADJOURN

MEMORANDUM

TO: Members of Glasgow Electric Plant Board

FROM: William J. Ray, PE

DATE: 9/19/2019

SUBJECT: Board Meeting Information

September Main Topics

Ø Continued Retail Rate Effectiveness Review

Ø Discussion of TVA Long Term Offer

Ø Programming Committee Recommendation

Ø Reports

📷October 1 FCA

Ø The October 2019 TVA FCA will increase to 1.528 cents per kWh. This is the first monthly increase to the FCA in the last few months, since the July increase. TVA’s explanation is that August sales and weather were in line with predictions, but rainfall was low, providing less hydro power than expected. That shortfall was replaced with higher cost coal generation and purchases of power from neighbors.

Ø On October 1, the energy component of our retail rates will adjust to reflect this anticipated increase to the wholesale cost of energy.

Action Items

Approval of Agenda and any New Items Desired by Board

Ø The present proposed agenda is attached to this narrative, but, as always, any board member can ask for additional items to be added.

Review and Approve Minutes of August 27, 2019 Meeting

Ø This is the customary review and consideration of formally adopting the proposed minutes for the last meeting.

Retail Rates Review

Ø We made a commitment to an Advisory Committee, and to the City of Glasgow, to conduct annual analysis of our retail electric rates. This is a sound business practice that should be followed, regardless of our commitments, and that review, which we began in August, will continue in the September meeting.

Ø As per the Board’s input, more gradual progress toward making EPB’s rates 100% non-volumetric, will be presented at the meeting for your consideration.

Ø Melanie Reed has completed her preliminary analysis of the performance of our various retail rates utilized by the different customer classes, and we will review those at the meeting, especially demonstrating the very small impact on total bills that would result from altering the Customer Charge, while reducing the kWh charge.

Ø It will be the Board’s decision on how we should proceed during September, and maybe October, as we move toward any adjustments necessary to stay the course.

Consideration of TVA Long Term Offer

Ø This matter really dovetails with the rate discussion above, and we will likely discuss both together, especially since the TVA offer would produce pretty dramatic changes in retail rate design.

Ø TVA’s new CEO has proposed a novel approach to the problem of declining energy sales, and that proposal is outlined in a document attached to this narrative, entitled “Long-Term Agreement.”

Ø This is a very complicated matter, but the simple elements are: TVA is willing to give LPCs a 3.1% credit to their power bills (for Glasgow, that means about $500,000 per year), they also want LPCs to alter their power contract to make the term a rolling 20-year agreement instead of the rolling 5-year term.

Ø There are many other “poison pills” in the proposed agreement, which is presently being reviewed by Ron Hampton.

Ø At the meeting, Ernie Peterson will be present to answer any questions about the proposed agreement that come up. Like I said, this is exceedingly complicated and will require much consideration, but it really must be considered along with our proposed actions which flow from the annual rate effectiveness study.

Consideration of Programming Committee Recommendation

Ø Due to an unreasonable rate increase proposal from the former vendor, who supplied the software and hardware for the local radar on Channel 9, we terminated our agreement with them. Since then, we’ve placed the NOAA weather radar on that channel, and many deem that unsatisfactory.

Ø Recently, a new vendor – WeatherPlay has made us a proposal to replace the NOAA weather radar with another product that seems more closely aligned with the former programming on Channel 9.

Ø The Programming Committee met and considered the cost and benefits of accepting the WeatherPlay offer, and unanimously voted to recommend we accept the offer.

Ø At the meeting we will quickly review some of the video and the pricing of this new product, for your consideration.

Reports

Ø AUGUST METRICS. Superintendent will do a brief review of the performance of the Glasgow EPB metrics for August.

Ø OCTOBER FCA. The Superintendent will go over the upcoming change to the Fuel Cost Adjustment for October, as dictated by TVA.

Ø CPD LEDGER. Since we altered our Variable Rate, at the request of an Advisory Council of our customers, to limit our peak predictions to four days per month, we have financial exposure when we miss the correct actual peak hour. To compensate for that exposure, we added a small amount to the wholesale cost of a peak kW, to collect funds to pay for missed predictions. The Superintendent will report on the status of that fund thus far in the fiscal year.

Ø WINDSTREAM BANKRUPTCY. Windstream Holdings (parent company of Windstream Company in Glasgow) filed Chapter 11 bankruptcy early this year. There is a large outstanding debt which is owed to EPB (about $40,000 now). To protect our interests and work to secure payment, as well as a suitable new relationship with Windstream going forward, I have engaged Scott Bachert, with the firm Kerrick Bachert PSC, to represent us in this matter. There will be a report on the progress at the meeting.