At its monthly meeting today, the Omaha Public Power District Board of Directors approved the 2018 Corporate Operating Plan (COP). In keeping with OPPD’s commitment to competitive rates, the proposed plan contains no general rate increase for the second consecutive year.
Key factors considered for the $1.1 billion budget include: the construction of transmission facilities, changing customer usage trends, compliance with changing regulations, the decommissioning of Fort Calhoun Station, and low load growth as a result of improved energy efficiencies. Due in part to agreements for increased fuel and wind energy purchases, the plan includes a minor increase in the Fuel and Purchased Power Adjustment (FPPA) in 2018. The FPPA helps OPPD offset increases in fuel and purchased power prices, which are out of our control. The 2018 budget addresses these topics, while maintaining safe and reliable service, as well as affordable rates.
In addition, directors heard a community solar program (CSP) update. In a presentation shared with the board, Jeff Karloff, OPPD’s division manager of Production Engineering & Fuels, said the objective is to develop a CSP that provides a solar option for all customer classes, while maintaining OPPD’s commitment to no general rate increase through 2021. More information on this project will be provided to the board in the first quarter of 2018, as efforts progress.
In other business, the board:
- Approved a declaration of anticipated expenditures reimbursement in accordance with federal tax regulations concerning financial proceeds. The adoption of this resolution maintains the district’s option to issue tax-exempt debt obligations to reimburse 2018 capital expenditures and maximize the investment of the proceeds.
- Authorized OPPD to negotiate and enter into a purchase power agreement to source additional wind generation, subject to review and approval of the form of the agreement by the district’s general counsel.
- Approved a resolution of appreciation for Vice President Jon Hansen. Hansen, who heads up OPPD’s Energy Production and Marketing, is retiring from OPPD, effective January 1, with nearly 35 years of service.
- Received its monthly president’s report. Once posted, you can view that report by visiting oppd.com/boardmeeting.
Next month’s board committee meetings will start at 8:30 a.m. Tuesday, Jan. 16. The monthly board meeting will be Thursday, Jan. 18, at 4 p.m. Both meetings will take place at OPPD’s Energy Plaza, 444 S. 16th St., Omaha.
The meetings are livestreamed at oppd.com as part of the district’s commitment to transparency, while making public meetings accessible and convenient for our customer-owners.