January board meeting notes

Posted on Mar 08 2024 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. 31 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, and Rob Horton, Executive Vice President and COO.

2. The Dec. 27, 2023, board meeting minutes were approved.

3. The membership certificates were reviewed.

4. The vouchers were reviewed and approved.

5. Walker provided the board with an update on Hoosier Energy, including global political and economic risks, U.S. energy outlook, grid reliability, energy policies, rate outlook, and member relations.

6. Seibert provided an update on the FTTH/broadband project with PSC.

7. The CEO report was presented with Seibert reporting the following items:

  1. An Indiana sales tax audit update
  2. MISO winter capacity
  3. The cooperative’s 2024 Weighted Average Cost of Capital (WACC) is 2.984%
  4. 2024 budget items
  5. An Indiana General Assembly update
  6. The Hoosier Energy Perry County reliability plan
  7. A Bandon substation feeder outage
  8. NISC and CRC capital credit allocations and retirements
  9. NRECA’s commitment to Zero 2 safety program
  10. A new employee hire
  11. Reporting of the following meeting dates: PCDC Annual Meeting Jan. 31, NRECA PowerXchange — March 4-6, ORU meeting March 13, Spencer County Chamber annual dinner — March 14, Hoosier Energy Annual Meeting April 3, and NRECA Director’s Conference — April 7-9.

8. The board approved the inventory adjustment for the year ending Dec. 31, 2023.

9. Robert White, safety and risk management instructor at IEC, conducted CPR/AED refresher training on Jan. 22. Cory Berg, training and safety with Hoosier Energy, conducted transformer connections and troubleshooting training on Jan. 16. Seibert advised there were no lost time accidents or public liability claims to report.

10. Chairman Vogel reviewed 2024 committee assignments.

11. Director Kyle Knieriem was selected as delegate to the Hoosier Energy Annual Meeting to be held on April 3, 2024.

12. Director Gary Waninger was re-elected as Southern Indiana Power’s Hoosier Energy director for 2024.

13. Seibert reported on the NRECA CEO Conference held Jan. 8-10.

14. Director Gary Waninger reported on the Hoosier Energy board meeting held on Jan. 16.

15. A Youth Tour committee meeting was scheduled for March 27.

16. A Capital Credit committee meeting was scheduled for Feb. 27.

17. The next regularly scheduled board of directors meeting will be held on Feb. 28.