Massena Electric Department

Approved by the MEUB 02/20/2025 Page 1 MASSENA ELECTRIC UTILITY BOARD MINUTES of Tuesday, January 21, 2025 Town of Massena Electric Department – 71 East Hatfield Street Present: James Shaw Andrew McMahon, Superintendent Richard Maginn Jeffrey Dobbins, Treasurer Rene Hart Matt Gray, Deputy Superintendent Charles Raiti Margo Rochefort, Deputy Treasurer Mark Ryan Kristy Baker, Town Liaison Eric Gustafson, Attorney Patrick Facteau, Town Liaison - excused Public – Bob Beckstead Chairman Shaw opened the meeting at 1:04 pm 1) APPROVAL OF MINUTES: RESOLUTION: The Massena Electric Utility Board hereby approves the minutes of the regular meeting of December 19, 2024 as presented. Moved by Mark Ryan- Seconded by Rene Hart - All in Favor 2) OPERATIONS UPDATE: by Matt Gray, Deputy Superintendent A. Safety: MED has not had a lost time injury since June 8th, 2022. The number of consecutive days without a lost time accident now stands at 937 days. As of December 31st, 2024, MED has been 194 days without a reportable injury. MED experienced a reportable injury on June 20th when an Employee cut their forearm while stripping wire. The Employee is currently working with no lingering effects from the injury. B. Customer Impact Chart: MED Customers experienced 1,250 Customer Impact Minutes (CIM) throughout the month of December. With this continued low amount of Customer Impact Minutes, the 12-month average remains relatively unchanged since last month and is now at 14,079. C. Reliability: MED Crews responded to only seven calls throughout the month of December, with only two calls contributing to our monthly CIM total. Of the seven calls received, one call affected no Customers, three calls affected only one Customer and three calls affected more than one Customer. The largest Customer impact was due to a faulty transformer at the corner of Ames and Beach Streets. This issue affected eleven Customers for one-hour twenty-two minutes. Also, of note, Crews dealt with a hit pole on North Main Street that required the pole to be replaced that night. This issue also caused a momentary outage for the eight hundred fifty-four Customers that are served by Circuit 62. The other CIM contributor was due to an animal contact on Fayette Road and involved a twelve-minute outage for twenty-nine Customers.  Approved by the MEUB 02/20/2025 Page 2 D. Work Schedule: MED Crews are continuing to address poles in need of replacement on Roosevelt Road and State Highway 37C. Crews continue to address issues that have been found as a result of the infra-red scanning program. To date the majority of issues found have been routine and easily remedied. Crews are working with Black and MacDonald to address an issue with breaker 3301 at Engstrom Substation. While completing our weekly Station checks, the Technicians identified an issue with one of the interrupters on the breaker. Black and MacDonald verified the issue with the breaker and are in the process of sourcing the required parts. Breaker 3301 was tagged out of service and the load was moved to the spare breaker 3302. 3) FINANCIAL REPORTS: by Jeff Dobbins, Treasurer A. Write-Offs: RESOLUTION: The Massena Electric Utility Board hereby authorizes the write-off of bad debt totaling $1,938.83 as audited by Mr. Rene Hart. Moved by Rene Hart - Seconded by Charles Raiti - All in Favor B. Power Comparison Graph: Power Costs were over a $1MM for the month of December. December Peak Demand was 41,877 kW. Higher end for Dec., set Dec. 23rd at 11:00 am. 4th month this year and 3rd consecutive month peak was set in the morning, low the night before was -6˚. 23,690 MWh purchased during Dec., over 6,000 MWh more than Nov. (36% increase compared to Nov.) 370 MWh less than Dec. 2023 (Dec. 2023 was 5-yr high). Supplemental Power costs totaled $642,250 during Dec. 10,360 MWh of incremental energy purchased. Zone D Average Energy rate was $62/MWh. The Zone D rate was double the rate from Nov. ($29.15/MWh) and Dec. 2023 ($31.05/MWh). Transmission related expenditures totaled $170,500. UCAP (Unforced Capacity) was $27,435 in December. Rate was close to $3.00 / kW up from $1.00 during Nov. Projections show this rate increase to $4.00 for Jan. and over $3.50 for Feb. ISO charges reflect costs for Nov. and were $69,500. Other Transmission charges totaled $73,565. CES totaled $81,500. Impact to Customers in Dec. Base PPAC 1.9¢/ kWh and Supplemental PPAC of 5.2¢. Highest these have been since January 2023. C. Cash Flow: The Operating Fund decreased by $640,850. The Operating Fund balance as of December 31st is $7.3MM, YTD change in fund balance-decrease $433,156. December receipts were over $930,940, $411,860, less than budgeted. Sales for Nov. & Dec. were lower than budgeted. January 2025 sales are expected to be up, based on December Power bills, increased usage and higher power costs. $32,075 in interest revenue included interest & discounts earned on a treasury’s owned by the Department. December expenditures totaled $1.57 MM, $20,800 less than budgeted. Treasurer Dobbins reviewed a series of graphs that showed the sales history of the Department and the impact cold weather has on sales and power costs. Since 2019 annual sales has remained relatively flat. On a monthly basis both MWh sold and sales dollars fluctuate considerably, and directly impacted by electric heating. From April through October MWh sold totals are typically below 15,000 and sales being less than $1 million for the month resulting in an average cost of customers of less than 6¢ / kWh. Since 2016 the average annual cost to customers has been at or below 6¢ / kWh. During the heating months, December through March, the monthly MWh sold will exceed 20,000 MWh and sales have been as high as $2 million. During these months the costs of power  Approved by the MEUB 02/20/2025 Page 3 is also higher resulting in a per kWh costs that has exceed 8¢ / kWh for residential customers. Treasurer Dobbins noted that the graph only showed billings through December 2024, and not the January 2025 totals since the billings were not complete. He did note that the cost of incremental power in December exceeded $60/MWh and after such a mild fall many customers were calling about their bills being higher. Due to this high cost of incremental power residential heating customers were paying 9¢ / kWh in January. Superintendent McMahon noted that through the first half of January the cost of power was higher than December. This higher trend was not only in New York, but throughout the eastern half of the country. Cold temperatures and even snow as far south as New Orleans, LA was putting strain on the electric system and driving up prices. He reviewed recent data from the NYISO and ISO New England that showed the price of power exceeding $100 / MWh during many hours in January. The final impact will not be known until the month is complete. He and Treasurer Dobbins both indicated that bills issued in February would be even higher, and for electric heating customers the cost per kWh could exceed 10¢ / kWh. RESOLUTION: The Massena Electric Utility Board hereby approves the bills as audited by Mr. Rene Hart totaling $1,811,942.81. Moved by Rene Hart – Seconded by Charles Raiti- All in Favor 4) COMMITTEE REPORTS: by Andrew McMahon, Superintendent A. Personnel 1. Staff Update: Mr. McMahon reported that staff hosted a retirement lunch for Sue Hatch. He also thanked those board members that were able to attend the lunch. There were no other staff updates to cover B. Finance & Economic Development 1. Energy Efficiency Programs: Treasurer Dobbins reported that he had received a couple of requests for Home Energy audits recently. The higher bills due to the cold temperatures prompted these customers to inquire about the energy efficiency program offered by the Department. Cold weather is expected to continue and Treasurer Dobbins noted that staff is reminding customers of the programs offered by the Department. He also indicated that he would be advertising the programs in the coming weeks to increase awareness and hopefully increase participation. Mr. McMahon noted that he intends to discuss these programs again at Monday Lunch, Rotary and during upcoming WMSA on-air segment. 2. S&S Software Upgrade (Cloud servicing etc.): Treasurer Dobbins reported that the upgrade to the billing and financial management software is progressing slower than planned. S&S is still working on fixing issues identified during testing and updating the financial management module to be compatible with the new version. Due to these delays testing will continue into March and the transition to the new version will be sometime in May. C. Engineering & Energy 1. Cybersecurity: Treasurer Dobbins indicated there were no issues to report and that staff continues to monitor the Department’s networks.  Approved by the MEUB 02/20/2025 Page 4 2. EAB extra work CR 40: Deputy Superintendent Gray reported that MED has identified approximately two hundred Ash trees that are infected by the Ash borer on County Route 40 and if they were to fall it would impact MED infrastructure. This area of the MED territory is not eligible for any of the grant funding that MED has investigated to date. The Ash trees are showing signs of late stage infestation such as dead limbs in the upper canopy and “blonding” as well as bark shedding. Therefore, we are asking for a do not exceed number of $50,000 for ash tree removal on Cr 40. In some instances, the cost of removal will be greater as the trees are located in occupied areas. When Ash trees in this condition are felled they tend to shatter which requires more time for clean-up. On a positive note the majority of home-owners have requested that we leave the wood on-site which will result in a savings in labor costs. RESOLUTION: The Massena Electric Utility Board hereby approves an amount not to exceed $50,000 to remove Ash trees from County Route 40 (W. Hatfield St). Moved by Charles Raiti – Seconded by Rene Hart- All in Favor 3. NYSERDA Projects: Massena has been approved for a technical assistance PON to review grid hardening and decarbonization projects that would benefit our utility. We still have paperwork to do to finalize this award by February 11. There is a second PON, number 5896, which is for infrastructure improvements for grid hardening and decarbonization. Massena Electric would be responsible for 1/3 of the cost if we receive this award. 3. Grant Funding, Federal and State: Given the executive orders signed yesterday by President Trump, it is unclear if this grant funding will still be available or If it will be temporarily frozen or discontinued. 4. AMI Procurement Update: Staff is working with Mr. Gustafson as well as Eaton and PSE to finalize the contract. Mr. Gustafson reported that there are certain significant differences but is hopeful that it can be taken care of in short order. 5. Tree Power Program: Mr. McMahon had nothing significant to report, but he said that there is new management at ALCOA and is hopeful that they will again support our work with trees going forward. 5) LEGAL ISSUES: by Eric Gustafson, Attorney: Mr. Gustafson had no remarks for open session. 6) UNFINISHED BUSINESS: History of MED Video - Mr. McMahon and Mr. Winfrey continued to move forward on this project. St. Lawrence Tour - Mr. Ryan asked NYPA for a tour of the power project while at the fall NYAPP meeting in Rockville Centre. NYPA has offered some dates for those interested in a tour. Mr. McMahon will finalize the date which looks to be sometime in May. 7) NEW BUSINESS: Massena PD Emergency Answering Service Agreement RESOLUTION: The Massena Electric Utility Board hereby approves the annual agreement between  Approved by the MEUB 02/20/2025 Page 5 Massena Electric Department and Village of Massena Police Department for emergency telephone answering during 2025 and to pay the sum of $7,750.00 for the services. Moved by Charles Raiti – Seconded by Richard Maginn – All in Favor 8) ARTICLES OF INTEREST: Mr. McMahon discussed briefly the uncertain future of Cap and Invest in New York State, as well as the potentially promising future of nuclear in New York State. 9) SCHEDULE OF EVENTS: Next regular meeting scheduled February 20, 2025 10) PUBLIC COMMENT: 11) EXECUTIVE SESSION: Motion to move into executive session at 2:13 pm. Moved by Mark Ryan – Seconded by Rene Hart - All in Favor Motion to move out of executive session at 2:43 pm. Moved by Charles Raiti – Seconded by Mark Ryan -All in Favor Motion to adjourn at 2:43 pm Moved by Rene Hart – Seconded by Richard Maginn - All in Favor Approved by the MEUB 02/20/2025 Page 6 Customer Impact Customer Minutes Top Quartile 12-Month Average 90000 80000 70000 60000 50000 40000 30000 20000 10000 0 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24  Power Comparison Nov-2023 to Dec-2024 Approved by the MEUB 02/20/2025 Page 7 kW Supplemental NYPA Actual kW Purchased vs. Monthly Min & Max 55,000 50,000 45,000 2019- 2023 Max kW 40,000 35,000 30,000 25,000 2019 - 2023 Min kW 20,000 15,000 10,000 5,000 - Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 MWh Actual MWh Purchased vs. Monthly Min & Max Supplemental NYPA 30,000 27,500 25,000 2019 - 2023 Max MWh 22,500 20,000 17,500 15,000 2019 - 2023 Min MWh 12,500 10,000 7,500 5,000 2,500 - Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Total Power Costs vs. Monthly Min & Max $2,000,000 NYPA CES Transmission & ISO Supplemental $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 2019 - 2023 Max $ $800,000 $600,000 $400,000 $200,000 2019- 2023 Min $ $- Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 % NYPA MWh 62% 58% 56% 59% 62% 70% 83% 75% 75% 76% 90% 88% 78% 56% % NYPA $ 33% 26% 17% 25% 29% 37% 39% 34% 33% 32% 41% 39% 36% 16% PPAC $0.008 $0.008 $0.015 $0.012 $0.009 $0.006 $0.010 $0.013 $0.011 $0.012 $0.009 $0.007 $0.010 $0.019 Supp PPAC $0.014 $0.019 $0.045 $0.020 $0.014 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.016 $0.052 CES $0.004 $0.004 $0.004 $0.004 $0.003 $0.004 $0.004 $0.004 $0.004 $0.004 $0.004 $0.004 $0.005 $0.004  Approved by the MEUB 02/20/2025 Page 8 MASSENA ELECTRIC DEPARTMENT STATEMENT OF CASH FLOW PERIOD ENDING DECEMBER 31, 2024 BUDGET vs. ACTUAL MONTH YEAR TO DATE over/(under) over/(under) ANNUAL ACTUAL BUDGET ACTUAL BUDGET BUDGET 1 OPERATING FUND 2 BEGINNING FUND BALANCE 7,970,230 635,196 7,762,534 7,762,534 3 4 CASH RECEIPTS: 5 RECEIPTS FROM CUSTOMERS 896,364 (420,436) 13,251,088 (2,602,112) 15,853,200 6 REIMBURSED WORK 0 (3,700) 68,294 23,294 45,000 7 RVRDA CONSULTING FEE 2,500 0 30,000 0 30,000 8 INTEREST REVENUES 32,075 12,275 376,944 139,344 237,600 9 TOTAL CASH RECEIPTS: 930,939 (411,861) 13,726,326 (2,439,474) 16,165,800 10 11 CASH EXPENDITURES: 12 SALARIES & WAGES 172,592 18,592 2,179,050 177,050 2,002,000 13 HEALTH INSURANCE 4,389 4,389 477,587 (37,413) 515,000 14 FICA & NYS RETIREMENT 12,084 484 395,898 2,798 393,100 15 Salaries & Employee Benefits 189,065 23,465 3,052,535 142,435 2,910,100 16 17 NYPA POWER 162,908 (2,192) 1,907,831 (32,169) 1,940,000 18 SUPPLEMENTAL POWER 108,758 (302,042) 2,390,411 (2,037,889) 4,428,300 19 ISO/TRANSMISSION 160,088 (23,112) 2,087,568 (31,832) 2,119,400 20 CES 76,481 10,081 754,322 (23,378) 777,700 21 Power & ISO 508,234 (317,266) 7,140,132 (2,125,268) 9,265,400 22 23 CONTRACT SERVICES 9,045 (8,055) 186,012 (19,788) 205,800 24 CONSULTING SERVICES 375 (6,725) 72,570 (12,630) 85,200 25 LEGAL SERVICES 15,549 (2,851) 192,021 (28,079) 220,100 26 FINANCIAL SERVICES 0 (3,500) 30,248 (2,652) 32,900 27 NYS SALES TAX 40,680 (11,320) 539,385 (87,615) 627,000 28 REAL ESTATE TAXES 0 0 615,424 (12,476) 627,900 29 POSTAGE 4,842 (858) 47,713 (20,687) 68,400 30 TELEPHONE 6,149 3,949 78,715 53,315 25,400 31 CONSUMER REFUNDS 9,570 5,170 102,623 49,823 52,800 32 INSURANCE 16,139 16,139 205,180 (29,120) 234,300 33 OTHER OPERATING EXP. 170,530 25,530 682,069 70,569 611,500 34 Paid to Suppliers & Vendors 272,877 17,477 2,751,959 (39,341) 2,791,300 35 36 MATERIALS & SUPPLIES 74,987 16,287 427,104 (277,296) 704,400 37 DEBT SERVICE 0 0 0 0 0 38 Contrib. to Depr Fund/Capital Exp. 505,029 424,529 766,079 (198,921) 965,000 39 CONTRIB. TO INS FUND 0 0 0 0 0 40 CONTRIB. to Post Retire. Hlth Ins Fund 0 0 0 0 0 41 ENERGY EFFICIENCY 21,598 (185,302) 21,673 (185,227) 206,900 42 Utility Investment & Other Activities 601,615 255,515 1,214,856 (661,444) 1,876,300 43 44 TOTAL CASH EXPENDITURES: 1,571,791 (20,809) 14,159,482 (2,683,618) 16,843,100 45 46 ENDING FUND BALANCE 7,329,378 7,329,378 244,144 7,085,234 47 48 CHANGE IN FUND BALANCE: (640,853) (433,156) (677,300) 49 Monthly Change YTD Change 50 DEPRECIATION FUND BALANCE: 1,256,171 501,586 (15,529) 51 LIABILITY & CASUALITY FUND BALANCE: 941,332 11,399 24,750 52 POST RETIRE. HLTH INS. FUND BALANCE: 1,692,411 6,314 83,115 53 ENERGY EFFICIENCY FUND BALANCE: 89,763 16,559 (12,722)  Approved by the MEUB 02/20/2025 Page 9 MASSENA ELECTRIC DEPARTMENT STATEMENT OF CASH FLOW PERIOD ENDING DECEMBER 31, 2024 2023 vs. 2024 MONTH YEAR TO DATE 2023 2024 Difference 2023 2024 Difference 1 OPERATING FUND 2 BEGINNING FUND BALANCE 7,634,548 7,970,230 335,682 6,538,226 7,762,534 1,224,308 3 4 CASH RECEIPTS: 5 RECEIPTS FROM CUSTOMERS 950,565 896,364 (54,201) 13,110,347 13,251,088 140,741 6 REIMBURSED WORK 176,439 0 (176,439) 461,152 68,294 (392,857) 7 RVRDA CONSULTING FEE 2,500 2,500 0 30,000 30,000 0 8 INTEREST REVENUES 23,563 32,075 8,512 262,514 376,944 114,429 9 TOTAL CASH RECEIPTS: 1,153,067 930,939 (222,129) -19% 13,864,013 13,726,326 (137,687) -1% 10 11 CASH EXPENDITURES: 12 SALARIES & WAGES 157,046 172,592 15,546 1,907,899 2,179,050 271,151 14% 13 HEALTH INSURANCE (1,726) 4,389 6,115 482,261 477,587 (4,674) -1% 14 FICA & NYS RETIREMENT 10,674 12,084 1,410 343,248 395,898 52,650 15 Salaries & Employee Benefits 165,994 189,065 23,072 14% 2,733,409 3,052,535 319,126 12% 16 17 NYPA POWER 159,709 162,908 3,199 1,893,604 1,907,831 14,227 18 SUPPLEMENTAL POWER 193,589 108,758 (84,832) 2,142,970 2,390,411 247,441 19 ISO/TRANSMISSION 127,457 160,088 32,631 1,854,670 2,087,568 232,898 20 CES 70,960 76,481 5,521 735,987 754,322 18,335 21 Power & ISO 551,715 508,234 (43,480) -8% 6,627,231 7,140,132 512,901 8% 22 23 CONTRACT SERVICES 16,639 9,045 (7,594) 206,692 186,012 (20,680) 24 CONSULTING SERVICES 2,742 375 (2,367) 110,944 72,570 (38,374) 25 LEGAL SERVICES 14,195 15,549 1,354 178,796 192,021 13,224 26 FINANCIAL SERVICES 0 0 0 29,286 30,248 962 27 NYS SALES TAX 50,428 40,680 (9,748) 535,541 539,385 3,844 28 REAL ESTATE TAXES 0 0 0 614,157 615,424 1,266 29 POSTAGE 3,635 4,842 1,206 52,979 47,713 (5,266) 30 TELEPHONE 5,104 6,149 1,045 30,707 78,715 48,009 31 CONSUMER REFUNDS 5,758 9,570 3,811 85,782 102,623 16,840 32 INSURANCE 16,967 16,139 (828) 226,604 205,180 (21,423) 33 OTHER OPERATING EXP. 133,485 170,530 37,045 527,434 682,069 154,635 34 Paid to Suppliers & Vendors 248,953 272,877 23,924 10% 2,598,924 2,751,959 153,036 6% 35 36 MATERIALS & SUPPLIES 42,205 74,987 32,782 595,362 427,104 (168,258) 37 DEBT SERVICE 0 0 0 0 0 0 38 CONTRIB. to Depr. Fund\Capital Exp. 16,215 505,029 488,814 103,452 766,079 662,626 39 CONTRIB. TO INS FUND 0 0 0 0 0 0 40 CONTRIB. to Post Retire. Hlth Ins Fund 0 0 0 0 0 0 41 Energy Efficiency 0 21,598 21,598 (18,673) 21,673 40,346 42 Utility Investment & Other Activities 58,420 601,615 543,194 680,141 1,214,856 534,714 43 44 TOTAL CASH EXPENDITURES: 1,025,082 1,571,791 546,709 53% 12,639,705 14,159,482 1,519,777 12% 45 46 ENDING FUND BALANCE 7,762,534 7,329,378 (433,156) 47 48 CHANGE IN FUND BALANCE: 127,985 (640,853) (768,838) 1,224,308 (433,156) (1,657,464) 49 50 DEPRECIATION FUND BALANCE: 1,271,700 1,256,171 (15,529) 51 LIABILITY & CASUALITY FUND BALANCE: 916,582 941,332 24,750 52 POST RETIRE. HLTH INS. FUND BALANCE: 1,609,296 1,692,411 83,115 53 ENERGY EFFICIENCY FUND BALANCE: 104,439 89,763 (14,676)  Approved by the MEUB 02/20/2025 MWh_Comparison_2025-1-21 Page 10 Monthly kWh Sold Other Industrial Residential 30,000 25,000 20,000 15,000 10,000 5,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 2024 Annual MWh Sold 220,000 210,000 200,000 190,000 180,000 170,000 160,000 150,000 140,000 130,000 120,000 110,000 100,000 2019 2020 2021 2022 2023 2024  Approved by the MEUB 02/20/2025 Sales_Comparison_2025-1-21 Page 11 Monthly Sales Other Industrial Residential $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 2024 Annual Sales $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 2019 2020 2021 2022 2023 2024  Approved by the MEUB 02/20/2025 Sales_Comparison_2025-1-21 Page 12 Monthly Cost / kWh $ / kWh Residential $ / kWh Industrial $0.10 $0.09 $0.08 $0.07 $0.06 $0.05 $0.04 $0.03 $0.02 $0.01 $0.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 2020 2021 2022 2023 2024 Annual Average Cost / kWh $0.07 $0.06 $0.05 $0.04 $0.03 $0.02 $0.01 $0.00 2019 2020 2021 2022 2023 2024 Industrial Residential