CT Municipal Electric Energy Cooperative CMEEC

MINUTES OF THE REGULAR MEETING OF THE JOINT RISK MANAGEMENT COMMITTEE OF THE BOARDS OF DIRECTORS OF CONNECTICUT MUNICIPAL ELECTRIC ENERGY COOPERATIVE AND CONNECTICUT TRANSMISSION MUNICIPAL ELECTRIC ENERGY COOPERATIVE December 12, 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” and “Transco”) met at the CMEEC offices located at 30 Stott Avenue, Norwich, CT on Thursday, December 12, 2019 at 10:00 a.m. The meeting was legally noticed in compliance with Connecticut General Statutes and all proceedings and all actions hereafter recorded occurred during the publicly open portions of the meeting. The following Committee Members participated: Groton Utilities: Ronald Gaudet Jewett City Department of Public Utilities: Louis Demicco (via telephone) East Norwalk, Third Taxing District: Kevin Barber East Norwalk, Third Taxing District Municipal Representative: Pete Johnson The following Non-Voting Member Representatives were also present: Bozrah Light & Power: Ralph Winslow Groton Utilities Municipal Representative: Mark Oefinger Jewett City Department of Public Utilities: Kenneth Sullivan (via telephone) 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 Services Michael Rall, CMEEC Director of Asset Management Scott Whittier, CMEEC Director of Enabling Services Margaret Job, CMEEC Executive Assistant & Paralegal The following individual also participated: David Silverstone, Esquire, Municipal Electric Consumer Advocate (via telephone) Bradley Svalberg, CMEEC Treasury Consultant Ms. Job recorded. Committee Chair Pete Johnson called the meeting to order at 10:04 a.m. 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 is present at today’s meeting. Chair Johnson confirmed a quorum was present. Specific Action Item A Public Comment Period No comment was made. B Approve Minutes of the October 18, 2019 Special Meeting of the Joint Risk Management Committee A motion was made by Committee Member Kevin Barber, seconded by Committee Member Ronald Gaudet to approve the Minutes of the October 18, 2019 Special Meeting of the Joint Risk Management Committee. Motion passed unanimously. C Prospective CMEEC Core Business Opportunity Justin Connell, CMEEC Director of Sustainability and Services, walked the Committee and others present at today’s meeting through his presentation (also provided as a handout) related to a potential CMEEC business opportunity. Mr. Connell explained the objective of today’s presentation is to provide awareness to the Committee and address known issues, identify unknown issues and align this Committee and CMEEC staff. He stated that the purpose of the presentation today is to garner feedback from this Committee and provide an overview of a potential new customer. He further stressed that that no ask was being sought. Lengthy discussion ensued. There being no further business to come before this Committee, Chair Johnson entertained a motion to adjourn. A motion was made by Committee Member Barber, seconded by Committee Member Gaudet to adjourn the meeting. Motion passed unanimously. The meeting was adjourned at 11:24 a.m.