CT Municipal Electric Energy Cooperative CMEEC

MINUTES OF THE REGULAR HYBRID MEETING OF THE RISK MANAGEMENT COMMITTEE OF THE JOINT BOARD OF DIRECTORS OF CONNECTICUT MUNICIPAL ELECTRIC ENERGY COOPERATIVE AND CONNECTICUT TRANSMISSION MUNICIPAL ELECTRIC ENERGY COOPERATIVE July 15, 2025 A Regular Hybrid Meeting of the Risk Management Committee of the Joint Board of Directors of Connecticut Municipal Electric Energy Cooperative (“CMEEC”) and Connecticut Transmission Municipal Electric Energy Cooperative (“CTMEEC” dba Transco) was held in person at 30 Stott Avenue, Norwich, CT and via Zoom on Tuesday, July 15, 2025 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 via Zoom: Bozrah Light & Power: William Ballinger Groton Utilities: Aaron Brooks (Non-Board Committee Member; joined at 10:18 a.m.), Ronald Gaudet Groton Municipal Representative: Mark Oefinger Jewett City Department of Public Utilities: Louis Demicco Norwich Public Utilities: Christopher LaRose, Robert Staley (joined at 10:09 a.m.) Norwich Municipal Representative: David Eggleston South Norwalk Municipal Representative: Dawn DelGreco The following Non-Voting Members participated via Zoom: Bozrah Light & Power: Scott Barber Jewett City Department of Public Utilities: Elier Alvarado Jewett City Municipal Representative: George Kennedy South Norwalk Electric & Water: David Westmoreland The following CMEEC Staff participated in person unless otherwise noted: Shadaya Bransford, Treasury & Risk Assurance Analyst William Butts, Senior BI Developer Michael Cyr, Director of Portfolio Management (via Zoom) Candice Divita, Manager, Finance & Accounting The following CMEEC Staff participated in person unless otherwise noted (Cont’d): Lauren Gaudet, Engagement Strategist Meredith Hernandez, Energy Markets & Operations Analyst (joined at 10:40 a.m.) Margaret Job, Director of Administrative Services Pulat Matyakubov, Director of Business Intelligence (joined at 10:06 a.m.) Chantal Maxwell, Administrative Services & Facilities Specialist (joined at 11:01 a.m.) Dave Meisinger, CEO Joanne Menard, Controller Hao Ni, Asset Performance Manager Brandon Tananykin, Finance & Accounting Intern Heidi Winnick, Manager, Treasury & Risk Assurance Others participated via Zoom: David Silverstone, Esquire, Municipal Electric Consumer Advocate Ms. Gaudet recorded. Committee Chair Ronald Gaudet called the meeting to order at 10:02 a.m. noting for the record that today’s meeting is being held in person at 30 Stott Avenue, Norwich, CT and via Zoom. He explained that participants should keep their devices on mute unless speaking to eliminate background noise and state their name when speaking for clarity of the record. Specific Agenda Item A Public Comment Period No public comment was made. B Roll Call Ms. Gaudet conducted roll call. Committee Chair Gaudet confirmed a quorum of the Committee was present. C Approve the Minutes of the April 17, 2025 Regular Hybrid Meeting of the Joint Risk Management Committee A motion was made by Committee Member Demicco, seconded by Committee Member DelGreco, to Approve the Minutes of the April 17, 2025 Regular Hybrid Meeting of the Joint Risk Management Committee. Committee Members Brooks, Oefinger, and Staley abstained. Motion passed. D Discussion re Imminent Retirement of CMEEC’s DG Project Mr. Meisinger introduced CMEEC’s Distributed Generation (DG) Project discussion to the Committee. He explained that the generator at the Norwich Wastewater Treatment Plant (WWTP) is the only generator left in the DG Project and that this agenda item is intended to provide the Committee with staff analysis and recommendations on the best next steps in the Project’s lifecycle. Mr. Meisinger then turned the floor over to Ms. Ni for the remainder of the agenda item. Ms. Ni walked the Committee through the presentation provided in advance of the present meeting. She explained that the Selective Catalytic Reduction (SCR) unit on the existing 2.0 MW generator unit needs to be replaced and because of this, the unit is out of service, but still in the capacity market. Ms. Ni noted that the generator will continue to receive capacity credits until October, but that the unit will not be able to conduct the required winter capacity claim test to continue receiving capacity credits and that it will be penalized for non-operation during any ISO-NE resource scarcity events. Ms. Ni then reviewed the options that had been considered for the generator at the Norwich WWTP, which included 1) retiring the unit, 2) purchasing a new SCR, making recommended repairs, and incorporating the unit into the MicroGen project, or 3) transferring the unit to NPU for their use as an emergency generator for the WWTP. She then reviewed the projected costs, benefits, and operational challenges surrounding the option of integrating the unit into the MicroGen project and staff reasoning for recommending the retirement of the project. E Discussion re Post-Retirement Disposition of DG Project Assets Committee Member LaRose explained that NPU is awaiting the results of an evaluation by the Environmental Protection Agency (EPA) before deciding whether to acquire and utilize the unit as an emergency generator for the WWTP. Ms. Ni noted that if NPU does not wish to purchase the unit, it could be offered for sale at market value, and any net proceeds from such sale would be distributed as a project asset. Discussion followed. The Committee agreed that it is in the best interests of CMEEC not to incorporate the unit into the MicroGen project and to therefore recommend retiring the project to the Board. At this time, Committee Chair Gaudet entertained a motion to recommend the retirement of the DG Project to the Board of Directors.  A motion was made by Committee Member Ballinger, seconded by Committee Member DelGreco to recommend the retirement of the DG Project to the Board of Directors. Committee Member Staley abstained. Motion passed. F Possible Executive Session to Discuss Potential Amendment to Community Solar Garden Battery Storage Project Pursuant to C.G.S. Sections 1-200(6)(E), 1- 210(b)(1), 1-210(b)(5), 1-210(b)(10) and 1-225(f) Mr. Meisinger identified all Board members present, all staff members present, and Mr. Silverstone as the parties who would remain for the proposed executive session discussion. At this time, Committee Chair Gaudet entertained a motion to enter executive session. A motion was made by Committee Member Demicco, seconded by Committee Member Ballinger to enter executive session. Committee Member Oefinger abstained. Motion passed. The basis for entering executive session is pursuant to Connecticut General Statutes Sections 1-200(6)(E), 1-210(b)(1), 1-210(b)(5), 1-210(b)(10) and 1-225(f). Members of the Board, members of staff, and Mr. Silverstone (pursuant and subject to his NDA) remained. The Committee entered executive session at 11:02 a.m. with instructions to return to public session upon completion of discussion in executive session. The Committee re-entered public session at 11:15 a.m. No formal actions were taken in executive session. At this time, Committee Chair Gaudet entertained a motion to authorize the CEO, staff, and counsel to negotiate and bring a final written settlement for the Polaris Battery Storage portion of the Community Solar Garden Project to the Board of Directors for its review and approval. A motion was made by Committee Member Staley, seconded by Committee Member Brooks to authorize the CEO, staff, and counsel to negotiate and bring a final written settlement for the Polaris Battery Storage portion of the Community Solar Garden Project to the Board of Directors for its review and approval. Motion passed unanimously. G New Business Committee Chair Gaudet expressed interest in exploring the possibility of running certain MEU emergency generation units for peak shaving purposes. Robust discussion of the permitting requirements for various generator types followed. H Adjourn A motion was made by Committee Member Demicco, seconded by Committee Member DelGreco to adjourn. Motion passed unanimously. The meeting was adjourned at 11:23 a.m.