CT Municipal Electric Energy Cooperative CMEEC

MINUTES OF THE JOINT RISK MANAGEMENT COMMITTEE OF THE BOARDS OF DIRECTORS OF CONNECTICUT MUNICIPAL ELECTRIC ENERGY COOPERATIVE AND CONNECTICUT TRANSMISSION MUNICIPAL ELECTRIC ENERGY COOPERATIVE August 15, 2019 A Regular Meeting of the Joint Risk Management Committee of the Boards of Directors of Connecticut Municipal Electric Energy Cooperative (“CMEEC”) and Connecticut Transmission Municipal Electric Energy Cooperative (“CTMEEC” or “Transco”) met at the CMEEC offices located at 30 Stott Avenue, Norwich, CT on Thursday, August 15, 2019 at 10:00 a.m. The meeting was legally noticed in compliance with Connecticut General Statutes an all proceedings and actions hereafter recorded occurred during the publicly open portions of the meeting. The following Committee Members participated: Groton Utilities: Ronald Gaudet, Keith Hedrick Jewett City Department of Public Utilities: Louis Demicco (via telephone) Third Taxing District: Kevin Barber, Pete Johnson South Norwalk, SNEW: Paul Yatcko (via telephone) The following Non-Voting Members were also present: Third Taxing District: Debora Goldstein (via telephone) Groton Utilities: Mark Oefinger The following CMEEC Staff participated: Michael Lane, CMEEC CFO and Interim CEO Robin Kipnis, Esquire, CMEEC General Counsel Justin Connell, CMEEC Director of Sustainability and Customer Engagement Bradley Svalberg, CMEEC Treasury Consultant Scott Whittier, CMEEC Director of Enabling Services Margaret Job, CMEEC Executive Assistant and Paralegal The following individuals also participated: Steven Engler, Deloitte David Silverstone, Municipal Electric Consumer Advocate Ms. Job Recorded. Committee Chair Pete Johnson called the meeting to order at 10:05 a.m. confirming a quorum was present. He noted for the record that this meeting is being held at the CMEEC offices located at 30 Stott Avenue, Norwich, CT via telephone and in person. He asked that those participating by telephone and those sitting in the room identify themselves for the benefit of all to know who was present at today’s meeting. Specific Agenda Item A Public Attendance Comment Period No public comment was made. B Approval of the Minutes of the July 22, 2019 Special Meeting of the Joint Risk Management Committee Committee Member Kevin Barber asked that the minutes be revised to correct a typographical error found on page 2 of the minutes at Agenda Item C where the title of the agenda item contained a typographical error in the word ‘Aid’ that should have read “Add”. A motion was made by Committee Member Keith Hedrick, seconded by Committee Member Barber to approve the Minutes of the July 22, 2019 Special Meeting of the Joint Risk Management Committee as amended, with Committee Member Paul Yatcko abstaining. Motion passed. 19-08-01 C Utility Facilitated Distributed Energy Resources Justin Connell, Director of Sustainability and Services walked the Committee through his presentation entitled “CMEEC Sustainability and Services DER Initiatives” dated August 15, 2019 which steps through a concept that supports solar installation and battery storage at commercial and industrial locations of a MEU. He stressed the preliminary nature of this concept and that prior to implementation, it would require additional risk evaluation and stress testing. After lengthy discussion, Municipal Electric Consumer Advocate, David Silverstone, Esquire supported the concept and suggested that it be rolled out as a limited pilot program. After additional discussion, Chairperson Johnson entertained a motion to present the concept of developing such a pilot program for solar and battery backup storage as a concept to the Board of Directors, with additional information to be presented to the Risk Management Committee and then to the Board. A motion was made by Committee Member Barber, seconded by Committee Member Hedrick, to present the concept and a proposed pilot program to the full Board of Directors on an informing basis only at its August 2019 Board of Directors’ meeting. Motion passed with Paul Yatcko voting nay. 19-08-02 Member Representative Debora Goldstein requested the Committee move Agenda Item E before Agenda Item D. Hearing no objections, Committee Member Barber made a motion, seconded by Committee Member Ronald Gaudet to move Agenda Item E before Agenda Item D. E Regulatory Stewardship: Format for Board Reporting Scott Whittier, CMEEC Director of Enabling Services, provided a brief overview of the Regulatory Stewardship: Compliance Report (sample for review) provided to this Committee in advance of today’s meeting. The report would act as a report card and be presented to the full Board of Directors. A dedicated staff member would be updating the report card and maintaining regulatory compliance calendars for CMEEC. Discussion followed with respect to the items to be placed on the report card with Ms. Kipnis and Mr. Whittier being tasked to make the edits discussed. It was also determined that the form would then be forwarded to Committee members for their comment and edits. D Risk Management GAP Analysis Mr. Whittier introduced Steven Engler from the consulting firm Deloitte. He explained that Deloitte had been engaged to perform a gap analysis of CMEEC’s current Risk Management Plan with a focus on developing a more comprehensive and enterprise-wide Risk Management Plan. He reviewed with the Committee the Deloitte presentation that had been provided to the Committee entitled “CMEEC Risk Management Policy Enhancement Recommendations Summary” dated August 12, 2019 and which included Deloitte’s recommendations. Discussion followed with respect to the recommendations made by Deloitte. The Committee then considered the next steps in the development of an enterprise-wide Risk Management Plan which would involve the drafting of the policies identified by Deloitte. There being no further discussion Chair Johnson entertained a motion to adjourn the meeting. A motion was made by Committee Member Gaudet, seconded by Committee Member Barber to adjourn the meeting. Motion passed unanimously. 19-08-03 There being no further business to come before this Committee, the meeting was adjourned at 12:43 p.m.