In an effort to keep you informed of your Cooperative’s operations and activities, the following are highlights of the Jan. 25 board meeting.
- All directors were present, along with CEO Steve Seibert and Administrative Assistant Lisa Hinton. Also present via Webex from Hoosier Energy were Donna Walker, President/CEO, Shannon Thom, Senior Vice President Member Engagement and Rob Horton, Executive VP and COO.
- The Dec. 28, 2022, board meeting minutes were approved.
- The membership certificates were reviewed.
- The vouchers were reviewed and approved.
- Walker provided the board an update on Hoosier Energy including global political and economic risks, U.S. energy outlook, grid reliability, energy policies and rate outlook.
- Seibert provided an update on the FTTH/broadband project with PSC.
- Seibert reviewed cost-of-service study findings.
- Seibert provided a strategic plan update to the board.
- The CEO report was presented with Seibert reporting the following items:
- Seibert provided a renewable energy report for 2022.
- Seibert reported the cooperative’s 2023 Weighted Average Cost of Capital (WACC) is 2.942%.
- Seibert reported the cooperative’s 2022 load peak was reached in July.
- Seibert informed the board of a new truck purchase order.
- Seibert reported the following meeting dates: SEDC Annual Meeting, Jan. 27; PCDC Annual Meeting, Jan. 30; NRECA Director’s Conference, Feb. 5-7; NRECA PowerXchange, March 5-8; CoBank Central Meeting, March 13-14; ORU meeting, March 15; and Hoosier Energy Annual Meeting, April 5.
- The board approved the inventory adjustment for the year ending Dec. 31, 2022.
- Greg Pemberton, safety and risk management instructor at IEC, conducted CPR/AED refresher and grounds testing on Jan. 19. Seibert advised there were no lost time accidents and no public liability claims to report.
- 2023 committee assignments were reviewed by Chairman Vogel.
- Director Kyle Knieriem was selected delegate to the Hoosier Energy Annual Meeting to be held April 5, 2023.
- Director Gary Waninger was re-elected to serve as Southern Indiana Power’s Hoosier Energy director for 2023.
- A system tour for directors has been scheduled for March 3.
- Seibert updated directors on an Annual Meeting Committee meeting held Jan. 19. The 2023 annual meeting is being planned as an in-person meeting on Thursday, April 20 at the Tell City Jr/Sr High School auditorium. The meeting will also be recorded and available on the cooperative’s website.
- Director Waninger reported on the Hoosier Energy board meeting held on Jan. 17.
- A Youth Tour Committee meeting has been scheduled for March 3.
- The next regularly scheduled Board of Directors meeting will be held Tuesday, Feb. 28.