January board meeting notes

Posted on Mar 05 2023 in Southern Indiana Power

In an effort to keep you informed of your Cooperative’s operations and activities, the following are highlights of the Jan. 25 board meeting. 

  1. 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.
  2. The Dec. 28, 2022, board meeting minutes were approved.
  3. The membership certificates were reviewed. 
  4. The vouchers were reviewed and approved.
  5. 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.
  6. Seibert provided an update on the FTTH/broadband project with PSC. 
  7. Seibert reviewed cost-of-service study findings.
  8. Seibert provided a strategic plan update to the board.
  9. 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.
  10. The board approved the inventory adjustment for the year ending Dec. 31, 2022. 
  11. 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.
  12. 2023 committee assignments were reviewed by Chairman Vogel.
  13. Director Kyle Knieriem was selected delegate to the Hoosier Energy Annual Meeting to be held April 5, 2023.
  14. Director Gary Waninger was re-elected to serve as Southern Indiana Power’s Hoosier Energy director for 2023.
  15. A system tour for directors has been scheduled for March 3.
  16. 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.
  17. Director Waninger reported on the Hoosier Energy board meeting held on Jan. 17. 
  18. A Youth Tour Committee meeting has been scheduled for March 3.
  19. The next regularly scheduled Board of Directors meeting will be held Tuesday, Feb. 28.