Los Alamos DPU finance staff presented first-quarter utility financials through Sept. 30, 2025 and a six-month update on municipal EV chargers.

Joanne, the finance presenter, said the joint utility funds include electric, gas, water and wastewater lines and noted carryovers and encumbrance rollovers from FY25 totaling several million dollars. For the quarter, she reported the electric fund is running at about $4 million net income while gas and water funds showed losses for the period; total utility cash and investments across funds were reported around $84.8 million.

On capital and reserves, staff discussed a recently approved draw of about $1.128 million from reserves for the Wet White Rock Substation; staff presented two scenarios showing how that adjustment affects reserve and bond timing across future fiscal years.

Joanne also presented six months of usage from level-2 EV chargers. She said the Los Alamos site averaged about 85 customers per month and White Rock about 37 per month, and that meter reads and ChargePoint reporting were closely aligned. Under current accounting the per-kilowatt-hour economic cost recorded was roughly $0.58/kWh; the municipal website lists a level-2 user fee of $0.23/kWh (plus tax). "So right now, we're not seeking a change in the cost of the kilowatt hour unless you guys would like us to do that," Joanne said; staff will continue to monitor usage before proposing fee changes.

Staff also reviewed loan and grant status, pending applications for water-line replacements and the San Juan and Laramie River Station decommissioning reserve positions; San Juan decommissioning and reclamation funds were reported as funded at levels slightly above prior targets, and staff said updated numbers are expected in December 2025.

Board members asked about whether higher apparent EV charging costs reduced usage; staff said they would analyze usage trends relative to rate changes and report back. No rate changes were proposed at the meeting.