Power Board

MARCH 2021 BOARD MINUTES The regular meeting of the Bristol Tennessee Essential Services Board of Directors was held on Wednesday, March 17, 2021 at noon. The meeting was held pursuant to Governor Bill Lee’s Executive Order No. 16, which allows members of the governing body subject to the Tennessee Open Meetings Act to meet and conduct essential business by electronic means if the body determines meeting electronically is necessary to protect the health, safety and welfare of Tennesseans in light of the COVID-19 pandemic. The public could attend the meeting live via remote access from the BTES office and was notified of the process for joining remotely with detailed instructions on the BTES website, including the opportunity to address the Board on any matter of BTES business. The meeting continued electronically by general consensus. Call to Order Chairman Downs called the meeting to order at 12:00. Board Members Present Erin Downs, Vince Turner, David Akard III, Larry Clarke and Doug Harmon Staff Present CEO Dr. Mike Browder, Director of Engineering Clayton Dowell, Director of Management Services Tara Ellis and Director of Accounting and Finance Lola McVey Others Present TVA Representatives Chris Quillen, Mary Ellen Miller, Chris Saucier and Sam Vinson; BTES customer Tim Carter TVA Boone Dam Update TVA Representatives Chris Quillen, Mary Ellen Miller, Chris Saucier and Sam Vinson provided an update on the status of repairs to Boone Dam. The repairs are nearing completion and the lake level should be at full summer pool this year for testing. Minutes Chairman Downs asked if there were any corrections to the minutes of the February board meeting which had been previously distributed. The minutes were approved by general consensus. Safety Report Ms. Ellis reported that BTES has completed 441,968.45 safe working hours as of February 28, 2021 without a lost time accident. A safety meeting was held on March 2 for outside employees on Material and Equipment Transport. She also reported that a bucket truck was involved in an accident. There were no injuries. Financial Reporting Electric Business Unit Ms. McVey presented the February 2021 financial reports. She reported that electric revenue includes some unbilled revenue from previous months which is reflected in Net Income. The weather was colder than last year but not as cold as normal. The 2021 Right of Way Improvement Process will begin in late March which will bring the Operating and Maintenance expense closer to budget by the end of the fiscal year. There are 165 PrePay customers as of February 28, 2021. The financial highlights are as follows: $(000) YTD Actual YTD Budget Electric Sales $ 55,222.2 $ 57,246.7 Other Electric Revenue $ 4,410.9 $ 4,534.3 Other Income $ 254.3 $ 590.5 Total Operating Expense $ 56,333.6 $ 60,457.1 Non-Operating Expense $ 878.0 $ 693.4 Electric Net Income (Loss) $ 2,675.8 $ 1,221.0 Operating & Maintenance Expense $ 6,666.5 $ 7,420.8 Broadband Net Income $ 2,362.8 $ 1,428.9 Advanced Broadband Services Business Unit Ms. McVey reported that the number of customers in the Advanced Broadband Services (ABS) Business Unit increased by 74 in February 2021. The number of Internet only customers increased by 99 for the month of February. TVA Monthly Fuel Cost Dr. Browder indicated that the April 2021 monthly fuel cost will increase to $.02183 per kWh for residential (RS) customers. This increase is due in large part to the weather in February and increased gas prices. March 1, 2021 April 1, 2021 Fuel Cost Fuel Cost 500 kWh $8.24 $10.92 1000 kWh $16.47 $21.83 1500 kWh $24.71 $32.75 2000 kWh $32.94 $43.66 Site Consultants, Inc./Raceday Campground Chairman Downs recognized Tim Carter, BTES customer, who requested to address the Board about the contract for electric service for Raceday Campground. He requested the Board overturn the BTES staff decision about the need for the contract. There was no motion from the Board. Chairman Downs stated that the Board members had received the information from Mr. Carter only minutes before the meeting began and that there were complex legal issues. The BTES attorney would need to advise the Board. CEO Report Dr. Browder reported that work is continuing on the South Bristol Delivery Point. Board Comments There were no further Board comments. Chairman Downs adjourned the meeting. Respectfully Submitted, David Akard III, Secretary