September Board Meeting Highlights
The monthly meeting of MVEC’s Board of Directors was called to order at 8:30 a.m. on Monday, September 29, 2008. All Directors and legal counsel Hap LeVander were present. Highlights of the meeting include:

• Accepted the financial report. Energy sales through August are below budget by 4%. This is due to cool summer weather, fewer new service installations, more vacant homes, and energy conservation. Lower energy sales, combined with increased wholesale power costs from Great River Energy (GRE), have produced negative YTD margins.
• Approved an increase in the monthly Power Cost Adjustment (PCA), effective October 1, 2008. GRE has experienced higher than anticipated costs for producing and purchasing power. Those costs are billed to MVEC monthly, and while the cooperative absorbs them where feasible, the balance must be recovered from the membership. The increase amounts to $4.40 for the average residential member.
• Selected Power Systems Engineering to perform a new rate study. The purpose of the study is to update MVEC's General Service, Energy Wise and Commercial tariffs. GRE and Basin Electric Power Cooperative are both planning new rates effective January 2009.
• Reviewed the cooperatives Crisis Communications procedures. MVEC's Terri Bakken explained procedures were developed to ensure timely, quality response when crisis occurs (e.g. damage to the electric system, the headquarters, natural disasters, serious accidents, etc.).
• Heard reports from management covering a variety of items; Basin Power Cooperatives new Dry Fork Generating Station, Scott County transmission service enhancements, URD cable replacement in Credit River's Creekwood Hills development and New Prague Community Education seminar regarding energy conservation.
  

The meeting adjourned at 2:00 p.m. Members with questions or comments may telephone MVEC’s General Manager, Roger Geckler at (952) 492-8200, or e-mail rgeckler@mvec.net.