Power Board

JULY 2024 BOARD MINUTES The regular meeting of the Bristol Tennessee Essential Services Board of Directors was held on Wednesday, July 17, 2024 at noon at 2470 Volunteer Parkway, Bristol, Tennessee. Call to Order Chairperson Downs called the meeting to order at 12:00. Board Members Present Erin Downs, Vince Turner, Doug Harmon, and John Vann. Staff Present CEO Clayton Dowell, Vice President of People Operations Tara Ellis, Vice President of Engineering David Hacker, Vice President of Operations and Safety Steve Craddock, Vice President of Finance Lola McVey, and Supervisor of Accounting Heather Jenkins. Public Comment Period Chairperson Downs called for public comments. There were none. Minutes Chairperson Downs asked if there were any corrections to the minutes of the June board meeting which had been previously distributed. There were none. Mr. Harmon motioned to approve the minutes as distributed. Mr. Turner seconded, and the minutes were approved unanimously. Annual Election of Officers The officers of the board are elected at the July meeting each year to serve a one-year term. Mr. Vann nominated Ms. Downs to serve as Board Chair. Mr. Harmon seconded the motion and it was unanimously approved. Mr. Turner nominated Mr. Vann to serve as Vice Chair. The motion was seconded by Mr. Harmon and unanimously approved. Mr. Vann nominated Mr. Harmon to serve as Secretary. Mr. Turner seconded the motion and it was approved unanimously. After discussion on Tennessee Code Annotated 7-52-110(b), the Board decided to appoint a Treasurer. Mr. Turner nominated Mr. Dowell to serve as Treasurer. Mr. Harmon seconded the motion and it was unanimously approved. Safety Report Mr. Craddock reported that BTES completed 68,985.71 safe working hours from January 12, 2024 to June 30, 2024. The July safety meeting for outside crews is scheduled for July 30, 2024. The topic will be “Safe Backing, Turning, and Parking.” Reliability Report Mr. Hacker presented the outage data for June 2024. He reported 4.2 average customer outage minutes for the month of June and 56.171 average customer outage minutes through June 30, 2024. Financial Reporting Electric Business Unit There were no monthly financial reports because June 30, 2024 is the end of the fiscal year which requires more time to close out the books. The June financial report will be presented at the August board meeting. Ms. Jenkins reported energy purchased from TVA for the month of June was 74,992 MWh while energy sold was 64,028 MWh. The difference between energy purchased and energy sold is unbilled revenue which will be billed to customers in the month of July. She also reported a refund of $13,862.74 has been received from the Tennessee Department of Unclaimed Property due to the claim that was submitted in April 2024. Advanced Broadband Services Business Unit Ms. Jenkins reported cable subscribers decreased by 165 and telephone subscribers decreased by 69 while Internet subscribers decreased only by 11. An advertisement was run on Facebook and Instagram from June 11th – June 14th and June 18th - July 8th promoting our 1 Gig Internet speed. TVA Monthly Fuel Cost Mr. Dowell indicated that the August 2024 monthly fuel cost will increase to $.02287 per kWh for residential (RS) customers. June 1, 2024 July 1, 2024 August 1, 2024 Fuel Cost Fuel Cost Fuel Cost 500 kWh $10.44 $11.22 $11.44 1000 kWh $20.87 $22.44 $22.87 1500 kWh $31.31 $33.66 $34.31 2000 kWh $41.74 $44.88 $45.74 Residential Developments Discussion Mr. Dowell presented information BTES had considered during a review of their residential development program and the current need for housing in the community. Important considerations included program details of other Local Power Companies, BTES’ net income per electric customer and net income per Internet customer, our current program incentives, and opportunities that may exist to support our community. He proposed BTES continue the current residential development program and requested the Board consider designating one million dollars from the Telephone Business Unit to be used as additional funds for a new limited program to reduce the cost burden for residential development growth in the BTES service area. It was discussed that BTES staff would continue working on the program qualifications and other details to fully develop the new program specifications. After discussion, Mr. Turner made the motion to allocate one million dollars from the Telephone Business Unit to the Electric Business Unit to fund the proposed program. Mr. Harmon seconded, and the motion passed unanimously. CEO Report Mr. Dowell presented results of the Employee Engagement Survey and provided an update on South Bristol Primary Substation. Board Comments Chairperson Downs inquired about the current process of customer communication related to the Vegetation Management Program. There was discussion about a customer who had brought concerns to the City Council at the July council meeting. Chairperson Downs adjourned the meeting. Respectfully Submitted, Doug Harmon, Secretary