Minutes

Joint Board (Morrisville, Stowe and Hyde Park) Meeting

Monday, June 28th, 2010 at 6:15pm

Offices of Stowe Electric Department in Stowe VT.

 

Persons attending: (see below)

 

Riki French started the meeting at 6:20pm by explaining that the Task Force was charged with exploring the possible advantages and challenges of an electric utility merger and to report their findings to representatives of the three entities involved.

 

Riki and Craig presented a 17-page PowerPoint hand-out the Task Force prepared and explained that they concentrated on three potential cost saving opportunities (power supply expenses, transmission expenses and payroll expenses).

 

Payroll and Benefits costs were then discussed and Ellen passed out the spreadsheets prepared and pointed out that a 40% reduction in work force would only mean a 5% savings compared to total revenue.

 

Ray Koliander presented the cost analysis he completed. The analysis shows a merger of Morrisville, Stowe and Hyde Park electric departments could result in a 17% decrease in operating costs using one set of assumptions.

 

Ennis Kidney presented the rate comparison work he completed. The rate comparison summaries show Morrisville, Stowe, Hyde Park, CVPS, GMP, VEC and WEC rates.

 

The group discussed the four recommendations of the task force.

 

  1. Develop Field Services Consolidation Plan with Timeline
  2. Hire Consultant to do a Detailed Power Supply Analysis
  3. Hire Consultant to do a Detailed Transmission cost Analysis
  4. Collect Benchmark data from other Utilities

 

 

The individual Boards plan to discuss the recommendations at their July meetings with the intent of approving the recommendations by July 31.

 

The meeting ended at 7:45 p.m.

Meeting Attendees:

 

Ellen Burt, General Manager, Stowe Electric Department.

Tim Yarrow, Hyde Park Electric Trustee

Don Waterhouse, Hyde Park Electric

Riki French Hyde Park Electric Trustee

Ed DeBor, Morrisville Water & Light Trustee

Peter Bourne, Morrisville Water & Light Trustee

Dana Wildes, Morrisville Water & Light Trustee

Dick Marron, Stowe Electric Department Commissioner

Tim Sargent, Morrisville Water & Light Trustee

Craig Myotte, General Manager, Morrisville Water & Light

Art Lloyd, Stowe Electric Department Commissioner

Patrick Householder, Controller, Stowe Electric Department

Lili Burgess, Administrative Assistant, Stowe Electric Department

Gordy Smith, Johnson Water & Light, Chair Commissioner

Ennis Gidney, Consultant

Denise Gutstein, Stowe Electric Department Commissioner

Ray Koliander, Consultant