[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6052398,"mediaKeyId","3397130-525bc2df303f3a9fa59152c9a28c8688","parentId",3397130,"title","MEAN official briefs Waverly Utilities on market expansion, 9.8% rate increase and cost drivers","audioSeconds",2257,"startMs",1652000,"endMs",3909000,"viewUrl","/Search/View?dp=1&key=3397130-525bc2df303f3a9fa59152c9a28c8688&start=1652&end=3909","thumbnailUrl","https://assets.pipeline.soar.com/3397130-525bc2df303f3a9fa59152c9a28c8688/thumbnail_1652000.jpg","articleUrl","/articles/6052398/Michigan/MEAN-official-briefs-Waverly-Utilities-on-market-expansion-98-rate-increase-and-cost-drivers","mediaUrl","https://secure.pipeline.soar.com/6052398-47cf002b81b5abdd27a0778baf184ce8/orig.mp4?Expires=1771014074&Signature=aoRj1hUQgasw6sQn16QmHG~JgCNQ6Tf6j~xjsMNiqiwY-IlISgtTQgP~DTuyLUN5shclCX~ifM5Ka0nLnAniqgoFzgntDrNuDKEv-jBqUuUPq41fPVN3uAOV6JtvK6kWF2UlVR5ieEiMkfs33dQiOfHUEApEIHeweKh5EFPX0uj54~Hi4ex3pmbGIW54CwmwiFS06IKrpqdrpn5fZbSvo7MFImEg~6D7wWS6a9Ts-U2~TVrZnfUVWDlfp-SwDOUb7T2MuvaMVk0YT2-lL56Enz2-MqpqKcNB0LxNK~ECrykTev-Hb9f3Yy-uZLKSrPykW2x2l4uQ8qnMSrmhOOTTuA__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Waverly","date","2025-05-14T07:19:10Z","article","The Municipal Energy Agency of Nebraska (MEAN) briefed the Waverly Utilities Board on wholesale market changes, rising capital costs and the reasons behind a 9.8% wholesale rate increase that took effect April 1, 2025.

Kyle, a MEAN representative, told the board that MEAN’s footprint is geographically diverse and that several market and capital drivers pushed costs higher. He identified three primary cost drivers: wholesale market expansion and implementation costs; plant capital and O&M; and other wholesale and power purchase costs. “What we had to do to cover our costs” included a 9.8% rate increase, Kyle said, and he explained that some costs were one-time implementation charges tied to market expansion while others reflect ongoing capital and operating needs.

On the market-expansion point, Kyle said MEAN participated in an expansion of the Southwest Power Pool (SPP) footprint and that implementation requires software, consultants and a so-called pseudo-tie. He told the board the wholesale-market expansion component was roughly $3.1 million in one-time costs, and that the pseudo-tie implementation alone was about $2.5 million. “Most of it is 1 time,” he said of the SPP-related costs.

Kyle said the pseudo-tie and software costs were largely responsible for this year’s larger rate action and that, absent those measures, the increase might have been far smaller. He also described medium- and long-term capital pressures: MEAN projects $7.4 million in capital for the current fiscal year, cited a five-year average near $4.3 million, and said preliminary forecasts showed multi-year averages rising to about $6.2 million with a larger, preliminary $9.0 million figure in a year tied to a potential coal-to-gas conversion at one plant.

Board members asked how Waverly customers benefit from the expansion and whether the rate increase would be a one-time correction or recur. Kyle said the expansion and diversification can increase stability over time but that he could not promise no future increases; timing of federal or regulatory changes and capital decisions by joint-ownership plants remain uncertain. He characterized the SPP-related implementation as primarily one-time, while capital costs and transmission increases could affect rates beyond the current fiscal year.

MEAN staff and board members discussed how wholesale increases flow to retail customers: MEAN’s costs make up a large portion of Waverly’s purchased-power and transmission bill, and the board’s power-cost-adjustment (PCA or ECA) mechanism passes many wholesale costs through to customers. Kyle emphasized the utility should consult its rate consultant on base-rate and PCA structure questions.

MEAN representatives said they expect to rely on power purchase agreements rather than additional bond-funded owned generation in the near term, and that any decisions about owned assets or fuel conversions will depend on board appetite, regulatory environment and long-term planning.

The presentation concluded with a discussion of volatility and planning: MEAN called the industry into a period of rapid change and urged members to account for implementation costs, capital planning and transmission pressures when setting rates.","mediaType","Video","parentTitle","Waverly Utilities Board Meeting (Tuesday, May 13, 2025)","oneSentenceSummary","MEAN officials briefed the Waverly Utilities Board on factors behind a 9.8% wholesale rate increase effective April 1, 2025, citing a $3.1 million one-time implementation cost tied to Southwest Power Pool expansion and rising capital needs.","taxTitle","City of Waverly, Eaton County, Michigan","taxId",53093,"location","Michigan","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6052403,"Board approves lease estoppel to keep Sandhills solar project financing on track",164,1359000,1523000,"/Search/View?dp=1&key=3397130-525bc2df303f3a9fa59152c9a28c8688&start=1359&end=1523","https://assets.pipeline.soar.com/3397130-525bc2df303f3a9fa59152c9a28c8688/thumbnail_1359000.jpg","/articles/6052403/Michigan/Board-approves-lease-estoppel-to-keep-Sandhills-solar-project-financing-on-track","https://secure.pipeline.soar.com/6052403-e466a011c1f77838bf2cd8d2dbd29138/orig.mp4?Expires=1771014074&Signature=WvDCSuq9q~Ef5YjFeyz5SZ3r~fnrMxa5M0vZLqwRDbBw73UrW9JNO5tIt-n7bwR62ySJGj4xMbkQ7M5pSvX3uHzlry7fvuN0jYb5mDI9mZCLlvvPVNQ60Uj8sSZmmgaGa681KMvo5oC95-Ci0hKuu-ta-88Ck9fD-tOlH2ABdXsAw49gTx1USBXBCx1pEdXs63~A9FrZBgWZ9c1KQfXg~dSZIRUgseE9nm-NLW0N0x7KuaFNVEDT0roPa3iF9c0RZDvSRzL-7hM8tmHXsk3Imnhq92WrpTBfJfQZ0Dk~aHKrPNDKx~6NDmbrB4DJIU5byGhhckGY8fOFYxk7FlsPeA__&Key-Pair-Id=KUT5TJCACFTXG","The Waverly Utilities Board approved Resolution 16-25 to sign a lease estoppel enabling Sandhills Energy’s Iowa affiliate—now identified in documents as Southeast Municipal Iowa LLC—to continue securing financing for a proposed solar array on utility-leased land.

Kurt, a staff member, explained the lender had requested a lease estoppel to verify there have been no significant property changes since Waverly Utilities granted the original lease approved by the board in 2022 and the property acquisition in late 2023. “It appears Sandhills … is still securing financing for the solar array project,” Kurt said. He reported legal review had found no “significant findings” on title or related documentation.

Kurt told the board that the developer had requested the verification as part of lender due diligence and that, once financing is secured, Sandhills would move into mobilization and construction. He said staff had extended the project construction window to Dec. 31, 2025, and that Sandhills indicated it would hold a pre-construction meeting after financing is in place. “I don't have any firm dates, times, or anything of that nature at this moment,” he added.

Board members asked about potential property tax effects; Kurt said the utility had pursued abatement on the land but had “no confirmation or numbers” on taxable value assigned to project equipment. Board members also clarified that utility-owned funds and communications utility funds must remain separate for audit purposes; Kurt said the lease estoppel as drafted applied to Waverly Utilities in its utility role.

A motion to approve Resolution 16-25 passed on a roll call vote; the meeting record shows the chair announcing the resolution was approved and recorded affirmative votes from board members. The resolution authorizes signing the lease estoppel so the developer can proceed with lender-required steps toward construction.

Staff said no construction work has started and that the project remains contingent on the developer securing financing. The board’s approval only confirms there have been no changes to the property that would affect the lender’s title or lease review; it does not commit the utility to construction or to financing the project itself.","Waverly Utilities approved Resolution 16-25, signing a lease estoppel so Sandhills (now Southeast Municipal Iowa LLC) can continue securing financing for a planned solar array; staff said construction depends on the developer finishing financing and mobilization timelines.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6052408,"Waverly Utilities board approves opening account with Iowa Public Agency Investment Trust",425,713000,1138000,"/Search/View?dp=1&key=3397130-525bc2df303f3a9fa59152c9a28c8688&start=713&end=1138","https://assets.pipeline.soar.com/3397130-525bc2df303f3a9fa59152c9a28c8688/thumbnail_713000.jpg","/articles/6052408/Michigan/Waverly-Utilities-board-approves-opening-account-with-Iowa-Public-Agency-Investment-Trust","https://secure.pipeline.soar.com/6052408-98901d5ffa0230a1b6e97d5e366c0f1f/orig.mp4?Expires=1771014074&Signature=E4DjW3ve8Zs5FpG6WsHFONgA5SRgXPA-3IGnE7HnEwSedzLCF3HoNcvqxfPAMQ~5m2p03seImPtfI5-O9JNaK1VDtBm2JP8R0fcROi6GQ6E0eJLC6Qdk7QLijHnYDchhVIvEBRukDDTCXyEthW43mvRXT2zBrNirwIqJwy0OKkS3knWVQ5Tmx~a9Ul6x1AqWynS8MVsznlcTJ7WRSDuPGaYeHw9IvUmHqUR5aXEP-e35EsbglUZJ2Glnjs2TethQd9cg2dOHMIVy19vyvHF5TqaL7eVkmN3djt8NUcP7ZK6arqkG8an6HGmxIbtyatp8lOxSOZHzWV3Qr6kBnEMYGg__&Key-Pair-Id=KUT5TJCACFTXG","Waverly Utilities approved Resolution 14-25 to open an account with the Iowa Public Agency Investment Trust (IPAT), a move staff said would give the utility a more liquid, higher-yielding place to hold excess cash.

Kelly, a staff member, told the Waverly Utilities Board the trust operates under state authority and that the utility sought to open an account in IPAT’s diversified fund, which provides daily liquidity and was rated A by S&P. “The diversified fund provides daily liquidity and is rated bridal A, by S and P,” Kelly said. Kelly also cited recent performance data: “from the 03/31/2025 ape hypate, it showed that their average rate was 4.13,” and contrasted that with the utility’s current return from First National Bank of “2.4.”

The resolution was presented as an expansion of investment options for the utility. Kelly said the proposal would let staff move excess cash into the fund as cash flow allowed; the board could set a limit if it preferred. She told the board the utility currently holds about $7,000,000 at First National Bank that could be available to move into IPAT and that the trust is used by other local public entities: “Yes. County uses it. School district uses it.”

Board members asked several clarifying questions about scope and safeguards, including whether funds for the communications utility should be held separately; Kelly said separate accounts are required for audit purposes. The board also discussed insurance and custodial questions; Kelly said IPAT is treated like other institutions the utility deals with and that staff had checked compliance with the utility’s investment policy.

After discussion, a motion to approve Resolution 14-25 carried on the voice/roll call vote. The meeting recorded affirmative votes from Broomkarts, Kettlesen, Buckingham, Hansen and Kalin, and the chair announced that “Resolution fourteen-twenty 5 is approved.”

The board did not specify a dollar limit in the approved resolution; Kelly told members staff planned to “monitor cash flow, see what payables are, and bring money back, kinda test it out.” The action updates a prior board authorization from 1988 that staff said had not been implemented at that time.

For now, staff will proceed to open the IPAT account and report back on any limits or guidelines the board wants to set for transfers of operating cash.","The Waverly Utilities Board approved Resolution 14-25 to open an account with the Iowa Public Agency Investment Trust’s diversified fund to seek higher, liquid returns on excess cash.","actionData","errors"]

Article not found

MEAN official briefs Waverly Utilities on market expansion, 9.8% rate increase and cost drivers

Board approves lease estoppel to keep Sandhills solar project financing on track

Waverly Utilities board approves opening account with Iowa Public Agency Investment Trust