►
From YouTube: Burlington Electric Commission - 7/12/2023
Description
Agenda: https://www.burlingtonelectric.com/wp-content/uploads/07.12.23-AGE-1.pdf
https://linktr.ee/townmeetingtv
00:00:00 Election of Officers
00:02:16 Agenda
00:02:24 Minutes of June 14, 2023
00:05:02 Public Forum
00:05:50 Commissioners’ Corner
00:07:04 GM Update
00:24:53 2023 – 2024 Strategic Direction
00:39:19 Financials: May FY23
00:52:31 IRP Update
01:12:12 Commissioners’ Check-In
This video belongs to http://www.cctv.org and published with permission under Creative Commons License CCTV Center for Media & Democracy Programming is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
A
Welcome
to
the
Wednesday
July
12th
meeting
of
the
Burlington
Board
of
electric
commission,
my
name
is
Colleen
Rule
and
the
Prairie
board
clerk.
The
July
meeting
is
the
Burlington
electric
commission's
organizational
meeting
and
the
first
order
of
business
is
to
elect
the
officers
at
top.
At
this
time,
I
open
the
floor
for
nominations
for
chair
for
the
commission.
C
A
Are
there
any
other
nominations
hearing
none?
We
will
move
to
vote
to
a
vote
by
a
show
of
hands.
Please
indicate
your
support
for
Scott
Moody
of
the
five
members
present
five
votes
were
cast
in
support
of
Scott
Moody.
Congratulations,
commissioner.
Moody
I
now
turn
the
meeting
over
to
the
chair.
Thank.
D
D
B
E
D
E
D
C
E
C
B
B
D
C
D
D
D
Concerns
praise
whatever
whatever
make
of
it,
come
on
down
and
join
the
conversation.
That
being
said
now
is
the
time
for
said
conversation
and
do
we
have
any
members
of
the
public
either
in
the
room?
I,
don't
see
anybody
in
the
room?
Are
there
any
online
all
right
with
no
members
of
the
public
here,
I
just
want
to
reiterate
again:
585
Pine
5
30,
a
second
Wednesdays
of
the
month
come
on
down.
Join
us
join
the
conversation.
It
is
your
electric
utility
too,
all
right.
Moving
on
to
commissioner's
Corner.
D
B
C
E
G
E
G
Thank
you,
so
I'll
start
with
those
items
related
to
the
protest
event.
My
understanding
is
that
some
of
the
groups
who
have
been
vocal
in
opposing
district
Key
to
posing
McNeil
are
planning
to
go
from
Gardener
supply
to
the
McNeil
plant.
The
morning
of
July
22nd,
which
is
a
Saturday
I.
Think
the
language
used
is
to
demand
that
the
city
shut
down
McNeil,
which
is
not
currently
really
part
of
the
discussion.
G
So
those
will
be
our
team's
focus
and
and
priorities.
We
respect
that.
There
are
different
views
in
the
community.
We
respect
people's
right
to
voice
those
views
in
terms
of
the
floods.
I
was
going
to
mention
that
you
know
we've
seen
the
impacts
primarily
at
our
two
power
generation
facilities
at
Winooski.
One
John
Clark
was
in
a
couple
of
the
news
stories.
I
think
talking
about
some
of
the
impacts.
There
was
one
in
Vermont
Digger
in
you
know.
Water
levels
I
think
correct
me.
G
If
I'm
wrong,
you
know
at
Winooski
one
were
higher
than
they
were
during
Irene,
so
that
was
significant.
We
have
photos
of
the
you
know
top
of
the
you
know
the
platform
where
you
stand
when
you
look
out
over
the
river
being,
you
know
covered
with
water,
it's
built
and
designed
to
withstand
that,
of
course,
but
we
have
had
the
facility
off
as
a
precaution
during
the
the
period
of
time
here
where
that's
happened
and
there's
been
a
lot
of
debris
and
other
other
types
of
items
to
be
cleared.
G
H
G
So
we'll
we'll
do
more,
we're
documenting
everything
for
FEMA
purposes,
so
there's
presidential
declaration,
we
hope
to
be
able
to
submit
these
types
of
costs
for
FEMA
reimbursement,
it's
typically
75
percent
and
Paul's
working
with
the
insurance
companies
on
any
appropriate
actions
there
at
McNeil,
it's
primarily
the
flooding
that
we
talked
about
in
the
field
and
in
the
gate
area
to
the
plant.
We've
shut,
the
wastewood
yard
temporarily.
We
hope
to
be
able
to
actually
wouldn't
have
been
open.
G
I
B
G
Okay,
so
hope,
hopefully,
tomorrow
open
back
up
no
operational
issues
at
the
plant
as
a
result
of
any
of
the
flooding
other
than
people
just
having
a
little
bit
of
challenge
getting
in,
and
we
did
actively
talk
with
other
utilities
as
the
storm
was
happening
and
we
weren't
seeing
electric.
You
know
power
restoration
needs
here.
In
Burlington,
we
were
fortunate.
G
There
were
really
no
outages
reported
during
the
flooding
during
the
storm.
We
did
send
a
crew
two
vehicles,
three
crew
to
GMP
yesterday
to
help
with
their
outages.
They
had
I
think
at
that
point.
Around
five
thousand
out
been
in
touch
with
Washington
electric.
They
have
recovered
most
of
their
power,
outages,
restoration,
work
and
in
the
areas
where
they
couldn't
it's
not
for
lack
of
crew,
it's
because
they
can't
get
to
the
site.
G
So
this
was
one
of
those
situations
where
we
it's
not
as
if
we
had
you
know,
50
000
people
out
and
there
weren't
enough
line
workers
to
get
there.
It
was
you
know,
more
limited
number
of
people
out,
but
not
access
to
the
sites.
I've
anecdotally
heard
that
there
have
been
situations
where
Line
crew
have
had
to
hike
to
a
site
with
their
gear
and
then
go
up
and
restore
power.
So
obviously
we
we
are
glad
we
were
able
to
send
a
crew
down
to
help
wish.
G
We
could
do
more
and
we'll
be
looking
for
ways
not
just
bed,
but
the
entire
city
to
engage
I,
know.
Dpw,
has
sent
trucks
and
is
helping
to
pump
out
where
people
have
floods
in
their
homes
in
their
basements.
I
know
that
the
mayor's
offered
support
for
all
the
communities
that
were
impacted,
so
obviously
recovery
will
be
a
longer
Road
and
we'll
look
to
be
as
helpful
as
we
can
in
that
and
that
I'll
stop
there.
If
there
are
any
questions
or
comments.
G
But
it's
a
decision
of
the
council
and
we'll
be
working
with
them
on
that
District
heat,
so
I
have
a
concrete
time
frame
for
district
heat.
We're
at
that
we're
at
that
point
and
in
fact,
for
the
September
meeting
depending
on
how
things
go,
we
may
want
to
plan
for
some
in-depth
discussion
around
it.
So
we
are
having.
We
have
now
this
kind
of
a
unique
moment
for
this
project.
So
we
have
actionable
customer
term
sheets
for
the
first
time
ever
with
District
T.
We
have
the
pricing.
G
That's
built
in
is
based
on
the
actual
construction
pricing
for
the
project,
the
expected
financing
costs.
The
system
is
fully
designed
and
engineered.
There's
one
piece:
that's
left.
We
know
the
cost
of
it,
but
we're
doing
some
additional
final
design
on
a
piece
near
the
medical
center,
where
we
had
a
change
based
on
their
facilities,
team,
outlining
a
different
path
for
one
piece
of
the
project
which
was
fairly
recent,
but
other
than
that.
G
Potentially
one
would
be
the
idea
that
we
can
have
an
agreement
between
McNeil
and
the
district
heat
system
to
provide
steam
at
certain
terms,
certain
pricing
certain
period
of
time,
certain
structure
and
then
also
that
the
city
would
be
a
purchaser
of
a
certain
quantity
of
the
renewable
credits
that
would
be
provided
by
the
project.
As
one
of
several
purchasers,
the
steam,
of
course,
will
be
going
to
the
medical
center.
Potentially
the
university.
Some
condensate
return
would
be
available
for
the
Intervale
Center
if
they
decide
to
join
on.
G
So
you
know
a
lot
of
discussion
on
this
in
the
community
a
lot
with
the
two
Forum
a
lot
of
things
going
on,
but
we've
done
what
we
were
supposed
to
do
with
this.
We
were
asked
to
find
out
if
there
is
a
viable
project
proposal
that
would
be
that
would
pencil
economically
for
the
partners
that
would
be
designed
and
engineered
to
work.
We
have
that
now,
and
now
we
have
the
moment
where
we
can
find
out.
G
Is
this
something
that
the
various
Partners
want
to
advance
and
then,
if
so,
we
will
be
able
to
take
this
to
the
city
council
for
the
appropriate
work
sessions
and
then
consideration
for
a
vote.
If
all
that
happened,
then
you
would
move
towards
financing.
You
would
move
towards
the
completion
of
the
permitting
phase.
You
would
move
towards
construction,
ultimately
in
2024
and
probably
completion
in
2025..
G
C
G
So
it's
an
economic
question
and
it
it's
not
a
question
that
can
be
viewed,
I
think
in
isolation
compared
to
the
status
quo,
but
it'll
be
a
question
of
what
is
the
next
20
years
or
more
look
like
in
terms
of
carbon
abatement
for
for
this
type
of
load,
and
is
this
a
reasonable
economic
option?
If
our
goal
is
to
achieve
that
carbon
abatement
compared
to
whatever
other
options,
might
be
there,
because
we
know
that
you
can't
use
heat
pump
or
geothermal
technology
for
this
type
of
load.
G
So
really
there
are
fewer
options
and
it
it
works
in
a
way
with
the
idea
that
there
is
going
to
be
carbon
pricing.
We've
thought
about
that,
potentially
at
the
federal
or
state
level,
the
state's
going
to
have
the
clean
heat
standard
and
in
Burlington
we're
contemplating
having
a
carbon
price
for
you
know
replacing
fossil
fuel
equipment.
So
this
is
also
has
to
be
viewed
in
light
of
that
policy
as
well.
I.
Think
and
then
certainly
there's
political
Dynamic
to
it
as
well.
G
We're
abating
x,
amount
of
carbon,
as
a
result
of
that,
so
you
know
separate
from
sort
of
the
utility
regulatory
side,
the
tier
three
and
the
clean
heat
credits
and
those
types
of
things,
the
rtcs
as
we're
calling
them.
The
renewable
thermal
credits
would
be
representative
of
the
environmental
attributes
from
the
project
and
because
they
are
separate
from
the
steam
because
we
would
be
injecting
the
steam
primarily
at
the
medical
center.
The
idea
is
that
the
steam
is
separate
from
the
RTC.
G
The
RTC
is
the
Environmental
attribute,
and
that
would
be
available
for
purchase
even
for
customers
who
are
not
connected
directly
to
the
steam.
We
view
the
steam
really
as
an
injection,
not
only
you
know,
for
purposes
of
serving
that
load,
but
it's
really
a
reduction
of
fossil
fuel
use
in
the
vgs
system.
Okay,.
G
Yeah,
so
the
city,
the
city,
could
purchase
as
a
use
against
some
of
its
own
carbon
footprint.
The
medical
center
could
purchase
as
a
you
know,
a
portion
not
necessarily
the
entirety,
but
a
portion,
a
vgs
could
could
use
some
for
its
own
purposes
for
its
mix.
They're,
not
tradable
they're,
not
fungible,
they're,
not
Commodities.
These
are
environmental
attributes
that
we
contemplate
being
utilized
for
customer
claims.
E
E
G
If
not
a
couple,
quick
items
that
are
in
here,
we
are
likely
going
to
participate
in
some
sort
of
legislative
working
group
on
renewable
energy
standard
hasn't
been
formed,
yet
we
don't
have
any
details,
but
that's
a
big
topic.
Certainly
that's
lingering
wanted
to
let
the
commission
know
that
since
I
wrote
this
update,
we
had
a
proposal
for
decision
so
not
a
final
decision.
A
proposal
for
decision
on
our
FY
23
rate
case
that
proposed
to
disallow
recovery
of
the
Moran
frame
agreement
in
rates.
G
G
You
know
relative
to
that,
so
I
can
share
more.
Perhaps
when
we
reconvene
in
September,
hopefully
it'll
be
clearer
at
that
point.
But
for
the
moment
we
have
that
issue.
Lingering
the
FY
24
rates
will
take
effect
as
a
surcharge
for
bills
rendered
in
September
not
August
this
year,
as
we've
done
in
the
past.
So
we'll
see
that
change.
We
are
expecting
the
other
change
looks
like
it'll
be
approved,
based
on
the
proposal
for
decision
other
than
this
issue.
That's
lingering
that
we'll
have
some
further
discussion
response
on
and
then.
G
G
G
Pricing
like
we
have
for
our
EVS
currently
with
the
off-peak
charging,
and
this
dovetails
a
little
bit
with
work
that
the
Department's
doing
to
categorize
the
claimed
savings
from
heat
pumps
and
whether
that's
materializing
fully
within
the
Vermont
contacts
generally
not
bed
and
Bob
I.
Think
Chris
may
have
sent
you
some
information
relative
to
that
topic.
G
You
know
heat
pump
savings
and
what
we're
seeing
from
the
Department
studies
so
we're
conscious
of
that
we're
conscious
of
the
spend
rate
being
something
that
we'll
keep
an
eye
on.
We
believe
we
have
enough
to
get
through
the
end
of
the
year
and
keep
the
incentives
where
they
are,
but
we'll
be
looking
at
that
for
FY
20
or
for
calendar.
G
24
is
how
do
we
utilize
our
dollars
most
effectively
if
we
start
to
have
a
bit
of
uptake
past
the
level
that
we
anticipated
that's
great
and
then
how
do
we
kind
of
encourage
that
for
the
future
in
a
way
that
lines
with
our
budget?
So
that's
kind
of
what
I
was
trying
to
say
here
with
a
little
more
clarity
and
I.
Think
that's
everything
that
I
plan
to
provide
for
the
update.
G
I
think
they
did
for
a
period
of
time,
certainly-
and
you
know,
they're
still
challenges
if
you
want
to
get
an
electrician.
For
example,
that's
it's
not
a
media
I
think
if
you're
ordering
a
heat
pump,
it's
not
immediate
necessarily,
but
but
the
level
of
constraint
that
we
saw
I
think
a
few
years
ago
has
has
abated
to
a
good
extent.
So
that's
positive,
certainly
weatherization.
D
G
F
G
Long,
the
demand
is
there
in
a
more
durable
way.
You
would
expect
there
would
be
businesses
and
Workforce
that
would
want
to
gravitate
to
that
area.
I
think
the
problem
is,
there's
been
a
yo-yo
effect
in
the
past,
where
we
ramp
up
the
funding,
isn't
sustainable
and
then
contractors
have
seen
the
funding
fall
off
and
the
demand
fall
off
so
having
sustained
demand
for
a
period
of
time
should
drive
some
of
the
change
that
we
want
to
see.
G
Okay,
do
folks
have
this
handy,
yeah,
okay,
very
much,
an
evolutionary
attempt
here
for
the
2324
strategic
Direction.
We've
done
extensive
work
in
the
past
on
really
getting
this
document
in
terms
of
the
missions,
values,
2030,
Vision,
to
reflect
the
commission
and
the
Department's
goals.
What
we've
seen
here
is
really
a
focus
on
updating
the
Strategic
objectives
in
a
few
different
ways
and
as
a
reminder,
we
send
out
essentially
a
solicitation
to
the
entire
team
via
the
different
managers
to
ask
for
feedback
on
the
Strategic
Direction.
G
So
we
start
with
that
as
the
base,
and
then
we
add
some
things
where,
where
needed,
and
so
I'm
going
to
walk
through
just
line
by
line,
I
think
that'd
be
the
easiest
and
the
first
change
you'll
see
is
related
to
engage
customers
and
Community
number
two.
We
really
have
a
wording
change,
not
a
structural
change
around
the
wording.
G
Saying
now
increase
education
and
engagement
as
opposed
to
better
educate
and
engage,
and
then
also
adding
and
video
with
the
idea-
and
some
of
this
came
from
our
Equity
analyst
from
ITA
who's,
putting
a
new
lens
on
some
of
the
wording
here.
The
idea
that
we
want
videos
as
another
way
to
provide
customers
with
you
know
education
opportunities,
so
I,
don't
think
terribly
controversial
any
of
that,
but
the
next
line
is
partly
due
to
input
or
really
fully
due
to
input.
G
I
should
say
from
the
city
attorney
who,
in
reviewing
one
of
our
documents,
noticed
this
language
and
made
clear
to
me
that
we
should
use
language
as
written
here
to
ensure
all
programs
are
Equitable
and
accessible
to
all,
including
and
then
we've
added
people
whose
primary
language
is
not
English
as
another
group
that
we're
seeking
to
reach
getting
rid
of
the
language
of
with
a
priority
given
because
that's
not
necessarily
what
the
initiatives
are
about.
We're
not
trying
to
prioritize
a
customer
over
another
customer.
G
Yes,
so
a
number
of
different
things,
and
obviously
you
know
website
translation
something
we've
worked
on.
There
is
a
language
access
policy
from
the
city
from
cedo
that
we're
working
to
implement
ITA
is
doing
some
things
that
we
haven't
done
before,
like
having
office
hours
at
the
King
Street
laundromat,
for
example,
we
are
working
tighter
with
cboeo
than
we
have
in
the
past.
We've
engaged
with
their
racial
Equity
office
with
they
have
a
community
ambassador
program.
G
We
had
our
team
do
a
meeting
with
their
Community
ambassadors
and
a
number
of
folks,
and
it's
similar
to
the
city
trusted
Community
Voices
program,
where
you
have
representatives
from
different
new
American
and
immigrant
communities
who
are
able
to
take
information
that
we
can
provide
and
provide
it
back.
Not
always
in
writing.
G
One
of
the
things
I
learned
is
the
translation
needs
to
be
verbal
in
some
cases
as
well
having
the
written
materials
may
not
reach
as
many
folks
as
you
might
want,
so
we're
engaging
in
those
types
of
forums
as
well
and-
and
that's
just
really,
the
star
I
see
a
whole
lot
of
additional
opportunity
too.
But
I
want
to
provide
credit
to
our
team
and
to
Ita
for
thinking
through
some
new
things
in
this
space.
D
G
E
F
G
E
G
No
definitely
and
I'm
aware
as
well
of
a
Grant
application
that
we're
working
on
with
the
building
electrification
Institute,
who,
who
had
staff
here
recently
and
who've,
worked
with
us
on
the
policy
side
and
if
we're
successful
and
they
get
the
grant
part
of
it,
is
exactly
along
those
lines
focused
on
residential
decarbonization
opportunities,
engaging
with
sedo
engaging
with
Community
groups
and
being
able
to
kind
of
craft
policy
in
a
cohesive
and
collaborative
way.
So
very
much
along
the
lines.
What
we're
trying
to
do.
E
G
Yeah
and
that
really
kind
of
speaks
to
number
five
as
well,
as
you
mentioned
for
number
four
very
much
just
some
wording
changes
here:
evolving,
the
traditional
Energy
Efficiency
programs
to
complement
strategic
electrification
efforts
to
drive
deeper
greenhouse
gas
emissions
reductions,
really
long
lines.
What
we
just
talked
about
with
act
151,
you
know
we're
we're.
In
a
new
space,
we've
seen
a
lot
of
progress
with
traditional
Energy
Efficiency.
G
Lowering
electric
use
now
we're
trying
to
reach
a
different
goal,
and
we
want
those
programs
to
work
well
together,
but
that
was
already
in
there.
Just
some
wording
changes
and
then.
Lastly,
in
this
section
providing
website
and
other
Educational
Tools
so
not
limited
to
the
website
is
one
of
the
changes
to
help
customers
evaluate
both
cost
and
carbon
outcomes,
as
opposed
to
savings.
G
We're
not
presupposing
that
there
are
Savings
in
every
event
from
heat
pumps,
electric
vehicles
and
other
electrification,
Technologies
relative
to
current
fuel
sources,
so
just
getting
a
little
more
granular
in
what
we're
really
trying
to
offer
customers
in
terms
of
information
and
not
presupposing
that
their
Savings
in
every
scenario,
because
we
know
that
there
may
be
instances
where
it's
not.
So
that's
that's
the
changes
in
that
section
comment.
Please.
G
G
E
G
Right
we
have
no
changes
to
report
in
the
reliability
section.
Everything
remains
active
and
appropriate.
We
have
a
change
in
number
five
under
the
invest
in
our
people
processes
technology.
Previously
this
was
focused
a
little
more
exclusively
on
remote
work.
We've
tried
to
broaden
it
to
talk
about,
leading
by
example,
reducing
VMT
vehicle
miles
traveled
through
remote
work,
but
also
multimodal
Transit
car
sharing,
Partnerships
supporting
bicycling,
both
conventional
and
e-bike.
G
G
G
E
G
J
Here
I
can
just
based
on
the
questions
I
heard
I
wanted
to.
Let
you
folks
know
that
we've
done
a
couple
of
things
and
pizza's
really
been
spearheading
it.
One
is
we
have
a
new
flyer?
That's
about
it
basically
is
titled
need
help
paying
your
bill
and
it
talks
about
the
12.5
percent
energy
assistance
program
and
we've
translated
it
into
Vietnamese
Swahili,
Somali,
Gala,
karande,
Bosnian,
French
and
English,
of
course,
and
ito's
working
on
making
sure
that
these
flyers
find
their
way
to
the
communities
where
those
languages
are
spoken.
J
And
then
the
mission
chair
Moody
to
your
point.
We
have
been
in
close
touch
with
Allison
seagar's
at
Channel,
17
TV
with
the
Vermont.
What
is
the
way
the
Vermont
language
Justice
project?
In
fact,
just
as
recently
as
Friday
ITA
was
emailing
with
Allison
about
a
video
we're
working
on
we're,
trying
to
create
a
very
short
video
that
helps
people
basically
understand
their
electric
bill
and
so
we're
we're
making
some
good
progress
in
making
sure
we
connect
with
as
many
many
members
of
our
community,
no
matter
what
language
they're
speaking.
J
G
Mike
so
in
terms
of
the
Strategic
Direction,
so
a
couple
things
we
posted
all
around
the
building,
so
the
and
on
our
website,
so
people
are
aware
of
it.
They
see
it.
It's
our
our
one-page
document.
We
include
it
and
kind
of
reference
to
it
in
a
variety
of
contexts,
including
sometimes
with
job
applications,
job
interviews,
talking
about
the
Strategic
Direction
goals.
G
We
track
a
number
of
the
initiatives
via
our
dashboard
and
in
some
cases
we
have
additional
reporting,
like
the
Net
Zero
roadmap,
that
really
tracks
kind
of
other
pieces
of
it,
and
we
try.
At
least
you
know,
I,
won't
suppose
that
this
is
a
hundred
percent.
You
know
correct,
but
we
try
to
make
sure
that
it's
a
document
that
everybody
at
Bed
sees
some
of
their
work
in
so
part
of
doing.
G
These
updates
as
well
is
the
idea
that-
and
we
came
to
this
I
think
a
few
years
ago,
that
some
people
were
feeling
like.
Maybe
their
work
wasn't
as
well
represented
within
this
concise
one-page
document
that
has
a
lot
on
it.
It's
been
a
challenge
to
keep
it
at
one
page
and
so
I
think
we've
done
some
work
to
really
capture
a
piece
of
everybody's
contribution,
hopefully
to
bed
and
to
the
net
zero
Mission
kind
of
within
it.
G
I
D
B
G
E
B
D
B
E
K
K
Transmission
fees
were
65,
000
favorable
to
budget
and
purchase
power
was
two
hundred
and
nine
thousand
dollars
worse
than
budget.
That
included
a
thirty
eight
thousand
dollar
Mystic
charge
some
variances
in
the
wooden
wind
production,
both
positive
and
negative,
and
we
were
because
McNeil
was
offline.
The
iso
exchange
was
negative,
but
we
were
helped
in
that
regard
because
Energy
prices
were
low,
so
we
were
taking
power,
but
at
relatively
low
prices.
K
K
K
So
we'll
have
less
cash
than
we
wanted
to
have,
and
I
have
an
update
for
you
on
that.
Okay,
we
will
make
that
accounting
adjustment
to
amortize
the
Delta,
the
Lost
sort
of
winter
excess
energy
Revenue
right
right
to
amortize
that
over
a
period
of
seven
years,
so
it
will
take
the
roughly
four
million
dollars
of
expense
that
we
would
otherwise
record
and
reduce
it,
and
so
that
will
help
our
net
income.
K
Our
net
income
will
look
better
than
this
looks
right
now,
but
of
course
our
cash
situation
won't
change,
and
then
we
just
from
there
we
continue
to
move
forward
kind
of
managing.
As
best
we
can.
You
know
we're
positioning
McNeil.
It's
online
we've
seen
some
decent
prices
in
June
with
the
and
July
with
the
warm
weather.
C
K
Yeah,
the
net
loss
is
smaller
than
that
right,
but
because
we
had
budgeted
a
net
income
of
at
this
point
in
the
year,
almost
three
million
dollars
so
yeah
I
guess
you
know
what
we
could
say
is
that
we've
we've
managed
to
sort
of
cover
expenses
with
our
revenues,
even
with
those
revenues
being
diminished.
You
know
close,
but
not
quite
right.
So
that's
why
we've
got
that
three
hundred
thousand.
E
E
K
Right
and
that
you
know
the
so,
what
of
that
right
of
what
your
net
income
or
your
net
loss
is?
Is
it
you
know,
that's
what
shows
up
and
affects
your
debt
service
coverage
ratios
right,
because
you
didn't
have
as
much
income
as
you
budgeted
to
have
right
in
order
to
cover
your
your
debt
service.
So
we
we
are
able
to
pay
our
debt
service
right,
but
the
ratio
isn't
as.
G
E
C
F
G
K
K
K
At
this
point
in
the
year,
which
is
actually
a
little
bit
of
an
improvement
from
where
we
had
been
we'd
had
like
a
four
million
dollar
Delta
since
kind
of
December
through
the
end
of
April,
and
you
can
see
the
credit
rating
factors
there
for
the
most
recent
12
months.
Our
debt
service
coverage
ratio
is
2.71,
the
adjusted
debt
service
coverage
ratio,
0.84
and
the
day's
cash
on
hand
107.
K
Our
operating
cash
balance
as
of
June
30.,
it
is
4.463
million.
So
it's
you
know
less
right
than
than
where
we
were
in
May.
However,
it
is
pretty
much
right
in
line
with
where
we
thought
we
were
going
to
be
forecast
where
we're
going
to
be
at
the
end
of
the
year
and
it's
a
little
bit
less
than
we
had
budgeted.
K
So
we
in
the
fy24
budget,
we
kind
of
had
to
pick
a
beginning
cash
balance
to
our
best
of
our
ability
to
forecast,
based
on
when
we
submitted
the
budget
to
you
in
May.
So
it's
about
217
thousand
dollars
less
than
that
amount.
But
then,
with
our
subsequent
forecasts
you
know
we
kept
revising
and
it's
pretty
much
where
we
expected
it
to
be
I,
don't
know
the
exact
number
of
days
cash
on
hand
that
that
number
represents,
because
in
order
to
do
that,
I
need
to
know
our
team.
L
Evening,
everyone,
how
are
you
so
I'm
going
to
start
with
the
quick
verbal
update
and
then
I
can
at
last
go
through
the
PowerPoint
that
I
think
was
scheduled
for
March,
so
but
unfortunately,
I
do
want
to
be
clear.
That
I
was
not
actually
the
lead
of
that
team.
That
did
the
forecast,
so
I
may
be
somewhat
Limited
in
my
ability
to
answer
detailed
questions
if
those
come
up,
I'll
have
to
research
them
and
get
back
to
you
on
the
on
the
informational
update.
L
First
and
all,
first
and
foremost,
the
reports
on
McNeil
have
been
finished
and
are
now
available
on
the
McNeil
website.
So
there
are
three
reports:
there's
a
carbon
report
done
by
vgs,
there's
a
carbon
report
done
by
Innovative
natural
resources
and
there's
the
McNiel
economic
report.
Likewise
done
by
Innovative
Innovative
natural
resources,
those
are
available
on
the
website.
That's
the
easiest
place
to
go,
grab
them
and
have
been
provided
to
the
Department
of
Public
Service
as
well.
L
The
generation
chapter
draft
has
been
finished.
It
has
been
shared
with
and
discussed
with
the
Department
of
Public
Service.
The
Department
of
Public
Service
has
provided
comments
and
we
are
incorporating
their
comments
where
we
thought
they
were
reasonable
and
we
will
send
you
guys.
The
post
comment
draft
to
take
a
look
at
the
T
and
D
chapter
is
done
in
draft
form
has
been
provided
to
the
public
service
department
and
we
are
waiting
for
comments
from
the
Public's
diverse
department
on
that
chapter.
L
At
this
point
and
lastly,
Zach
Sears,
the
intern
that
I
mentioned
to
you
last
meeting,
has
started
actually
working
on
the
net
zero
chapter
and
that
chapter
will
have
we'll
probably
take
out
the
section
that
simply
or
regurgitated
a
lot
of
the
Net
Zero
roadmap
information,
replace
it
with
Net
Zero
roadmap
update
information
in
terms
of
actions
taken
to
date
and
accomplishments.
To
date
it
will
have
the
section
I
talked
about
on
tnd
requirements
to
meet
102.8
megawatts
a
section
on
t
d
requirements
to
meet
120
megawatts.
L
We
are
hoping
that,
through
the
pilot
project
we
awarded
to
prosumer
grid
to
have
an
evaluation
of
the
implications
of
going
to
hourly
renewability,
and
we
will
have
a
discussion
of
District
energy.
Those
are
at
least
the
plan
right
now
components
of
that
chapter,
and
that
is
my
my
comment
update
before
I
go
to
the
PowerPoint
any
questions
on
any
of
those
items.
L
L
L
Unfortunately,
I
can't
switch
screens
all
right,
I'm
trying
to
figure
out
how
to
advance
the
slides,
well,
that'll
work.
It's
a
hard
way
to
get
there
not
gonna
spend
any
particular
time
just
the
the
least
cost.
This
is
a
statutory
language
about
least
cost
integrated
plans
that
you've
all
seen
before.
L
This
is
the
forecast
section
that
we're
talking
about
in
arrears,
as
it
were,
the
resource
evaluation
Is,
the
Gen
is
that
what
I
call
the
generation
chapter?
That's
that's
been
presented
to
the
DPS
and
we've
received
comments
on
the
distribution
evaluation
is,
is
been
provided
to
the
DPS
and
we're
receiving
comments
on
that
and
we'll
be
moving
into
the
economic
impacts
next
and
actually
finalizing
the
forecast
chapter
as
well.
L
The
forecast
summary
we
contracted
with
itron
the
vast
majority
of
the
forecast
work
was
done
by
itron.
The
base
case
includes
traditional
information,
such
as
historical
class
sales
weather
data
information.
We
know
on
Appliance
saturations
economic
data
and
really
represents
a
a
continued
historical
trend
of
solar,
Eevee
and
heat
pump.
Adoption.
That's
what
the
base
case
represents.
It
doesn't
represent
no
adoption,
it
doesn't
represent
accelerated
option.
It
represents
adoption,
as
demonstrated
by
the
historical
trends
for
those
devices.
L
L
So
it's
not
that
we
don't
think
anything
will
happen
there,
but
there's
not
a
lot
of
evidence
of
it
yet
and
it's
not
Quantified.
It
is
being
covered
in
a
way
by
us
continuing
to
evaluate
tnd
impact
scenarios
that
exceed
the
forecast
here,
and
the
way
you
would
get
to
those
tnd
impacts
is
by
converting
some
of
the
Commercial,
Heating
and
and
cooling
of
heating
and
cooking.
So
again,
it's
not
that
we're
ignoring
it,
just
not
right
now,
forecastable
in
our
opinion,
okay,.
L
Just
take
me
a
second
to
get
to
the
slide
switch,
so
this
is
effectively.
We
I
think
we
actually
talked
about
this
slide
already.
This
is
the
projected
market
share
of
light
duty
vehicles,
The
Net
Zero
roadmap,
effectively
moves
it
to
100
percent
right
now.
We're
capping
at
81
and
those
are
increases
and
decreases
the
high
and
low
case
against
the
base
case
that
IR
that
itron
generated
so
in
our
high
case
we're
projecting
an
81
EV
adoption
by
2042..
L
L
L
L
L
L
So
in
Burlington
you,
you
can
look
at
it
and
say
well:
we've
got
an
incentive
to
help
you
with
the
conversion
costs,
but
you're
going
to
be
looking
at
an
increased
operating
cost
after
you
put
it
in
and
we're
trying
to
address
that
barrier
and
the
obvious
way
to
address
that
barrier
is
an
end
use
rate
now
to
offer
an
end
use
rate.
That's
better
than
current
electric
rates.
You
really
need
to
have
some
form
of
control
to
control
some
of
the
cost
causation.
L
In
other
words,
you
want
to
try
to
unload
transmission
and
capacity
costs
and
then
offer
a
lower
energy
rate
because
of
that
and
the
pilot
project
we're
working
on
through
the
doe
funding
and
the
Department
of
Public
Service.
That
Freddie
and
our
two
interns
from
UVM
are
working
on
is
going
after
that
potential
end
use
rate
and
seeing
if
it
can
be
done
through
a
combination
of
Hardware
rather
than
a
single
device
like
the
level
2
Chargers
that
we're
using
for
the
EVS.
L
In
addition,
that
grant
us
as
a
side
note,
is
also
addressing
whether
we
can
do
a
meaningful
level.
One
EV
charging
end
use
rate
to
back
up
our
level
2
Charging
rate,
particularly
for
hybrids,
and
things
like
that,
so
that
Grant
has
been
extended
through,
like
October
I
think
is
when
the
report
is
due,
so
that
work
is
progressing
and
I've
heard
more
eurekas
than
damn
it
alls
from
our
interns,
which
I
consider
a
good
sign.
So
you
know
you
like
to
hear
you
know.
L
L
This
is
the
unadjusted
base
case,
forecast
in
Peak
load
on
the
right
scale,
winter
and
summer,
and
the
energy
forecast
in
the
line
on
the
left
axis
so
right
now
we
don't
have
a
lot
of
growth
in
the
load
forecast
and
we
have
some
growth
in
the
peak
forecast,
but
we
remain
a
summer
peaking
for
little
utility
under
the
base
case.
Forecast.
L
L
This
one
is
the
summer
Peak
demand
and
the
high
case
doesn't
change
that
Peak
demand
very
much
EVS,
for
example,
are
under
load
control
in
most
cases
or
in
the
majority
of
cases
now
and
they're
forecast
to
be
under
load
control.
So
they
don't
drive
a
lot
of
Summer
Peak
and,
to
the
extent
that
we're
picking
up
heat
pumps,
they
may
be
replacing
air
conditioners
at
a
higher
efficiency.
So
we're
not
also
seeing
a
lot
of
change
in
the
summer
Peak.
L
But
if
you
look
at
the
next
slide,
you
can
see
what
happens
to
the
winter
peak
in
the
more
aggressive
heat
pump
scenario.
Okay,
that's
where
you
see
the
load
increase.
Okay,
that's
the
first
place.
You
see
the
load
hitting
80
megawatts
again,
if
you
injected
commercial,
industrial,
heating,
cooking
and
water
heating
into
this
now
you
exceed
the
80
megawatts
and
move
to
the
100
120
range.
L
L
This
is
the
forecast
of
the
Net
Zero
Energy
Peak
demand,
okay,
and
so
you
can
see
that
again,
I
use
the
term
forecast.
It
was
to
get
to
20
30
or
get
to
2040.
This
is
why
we're
testing
at
the
120
megawatt
level.
You
can
see
that
the
120
megawatt
level
actually
covers
all
of
the
cases,
except
for
the
spike
in
the
Net
Zero
Energy
2030,
which
is
Ascent
as
I
understand
it
when
you've
deployed
all
of
the
end
uses,
but
the
efficiencies
haven't
offset
any
of
the
increase.
L
Yet
so
again,
we're
testing
100,
which
puts
us
around
here.
We're
testing
120,
which
puts
us
around
here
and
qualitatively
distribution,
has
told
me
that
it's
the
120
is
really
where
the
cost
per
serving
load
increases
dramatically,
because
at
that
point,
you're
starting
to
touch
interconnection
substations
with
the
outside
world,
the
bigger
substations,
so
Queen,
City
East
Avenue
things
like
that.
L
L
So
here's
where
you
can
just
sort
of
see
how
much
commercial,
cooking
water,
heating
and
commercial
electric
heat
was
in
The,
Net,
Zero,
Energy
roadmap
and
how
it
does
explain
something
like
the
difference
between
the
80
megawatts
and
the
120
to
130..
So
this
is
back
up
to
support
that
the
forecast
in
or
around
80
absent
that
commercial
load
is
not
itself
unreasonable.
We
don't
think.
H
L
Wow
Tom
likes
long
power
points.
I
keep
thinking.
I
must
be
the
last
slide,
I'm,
not
sure
exactly
what
this
is
showing
other
than
that
EVS
are
not
contributing
to
the
winter
Peak
day.
Peak
load,
it's
it's
being
added
to
by
the
heat
pumps
and
we'll
never
be
able
I,
don't
think
to
take
them
all
offline.
L
Like
I,
say,
I'm
a
little
struggling
with
what
these
last
few
slides
work
do.
This
is
this
is
showing
what
happens
when
the
EV
charging
comes
on
at
some
point,
we
might
have
to
diversify.
Ev
charging,
or
you
created
a
peak-
that's
driven
in
the
evening
by
the
EVS
all
coming
online
at
the
same
time,
and
we
knew
that
that's
why
we've
got
the
option
in
our
rates
for
much
more
Dynamic
load,
control
of
EVS
than
a
simple
signal
to
turn
charging
on
at
11
PM.
L
Then
it
goes
up
from
there
and
obviously
to
address
the
Net
Zero
roadmap.
You
need
to
address
that
large
chunk
of
the
market,
but
I
don't
I.
Personally,
unless
Darren
has
an
answer,
I
mean
you
know
it's
interesting.
District
energy
actually
goes
after
a
piece
of
that
too,
but
it's
a
different
piece.
That's
separate
and
distinct
in
the
NetZero
roadmap.
I
believe.
L
L
We
actually
be
pushing
90
megawatts
today,
we're
not
pushing
65
today.
So
there
is
a
again
a
material
Gap
before
we,
and
so
you
know,
to
get
from
65
to
system
capability
was
three
years
under
the
Net
Zero
roadmap.
I.
Don't
think
that
will
happen.
So
you
know
again
you
really.
The
important
thing
is
the
planning
Horizon
and
time
to
construct.
Tnd
upgrades
relative
to
how
unexpected
the
load
increase
could
be.