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Rowley MLP awards transformer; manager seeks temporary depreciation increase to support substation work
Summary
RMLP awarded a substation transformer to Virginia Transformer Corporation with delivery expected fall 2025 and operation by Dec. 31, 2025. Manager Matthew Brown proposed raising the monthly depreciation rate from 3% to 5% for Oct–Dec 2024 to support the substation project and discussed possible $200,000 transfer.
General Manager Matthew Brown told commissioners that substation transformer 23‑13.8 12/16/20 MVA was awarded to Virginia Transformer Corporation of Virginia, with delivery expected in the fall of 2025 and commissioning targeted for Dec. 31, 2025. Brown said payments will be made in three installments under the procurement terms and that relay and control‑panel pricing has been received; RFPs were advertised and PLM will review recommendations to keep the schedule on track.
To help fund the substation work, Brown said he will request a temporary change in the monthly depreciation contribution from 3% to 5% for the remainder of 2024 (October, November, December). He presented figures showing the new incremental monthly cost would be $72,767.62 compared with the prior $37,666.22, and reported the total 2024 depreciation contribution would conclude at $565,316.87. Brown noted RMLP's cash account was about $1.4 million with a two‑month average of $1.2 million in warrants and suggested the board could consider a $200,000 transfer to depreciation to earn interest and then vote later to transfer funds back to cover bills if needed.
No formal vote on the depreciation change or transfers occurred during the Oct. 15 meeting; Brown presented the proposal for the board to consider at a future session.
