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Director's report: PCA at zero, rate-stabilization used; staff promotions and community programs announced
Summary
The director reported a PCA of zero for January, said the utility used a rate-stabilization fund to offset costs, noted natural-gas price risks and potential hedging, and announced staff certifications and upcoming community programs and dates for strategic planning and cybersecurity training.
The director reported the power cost adjustment (PCA) for January was zero and said the utility used funds from a rate-stabilization account to offset higher power costs. "Our PCA for January is 0," the director said, noting the rate-stabilization fund was used to keep the PCA at zero.
The director warned that natural-gas futures indicate upward pressure on fuel costs over the next 6 to 18 months and said the utility plans to discuss potential hedging at an upcoming Michigan South Central Power Agency (MSCPA) meeting. "Currently what we're looking at is, the natural gas futures are showing 4 to 4 50 over the next 6 to 8 months... over the next 18 months, they're fluctuating between $5 and $3.80," the director said.
Personnel and community announcements included congratulating employee Brandon Heine for achieving telecommunications/fiber certifications and advancing to Network Technician Level 2, reminders that March is National Reading Month with staff visiting local schools, cybersecurity awareness training due March 14, recreational events including a Mother/Son night on March 15 and spring program registration details, and strategic-planning sessions scheduled for March 11 and April 29 from 4 p.m. to 8 p.m. The director closed by confirming the board's next meeting date as Wednesday, April 2.
No formal board action was recorded on the director's informational items.
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