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BPMC 12-7-18
BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING REGULAR MEETING Alaska Energy Authority,Anchorage,Alaska December 7,2018 \nf 1.CALL TO ORDER Chair Borgeson called the regular meeting of the Bradley Lake Hydroelectric ProjectManagementCommitteetoorderat1:04 p.m.A full quorum was established. 2.ROLL CALL FOR COMMITTEE MEMBERS Cory Borgeson (Golden Valley Electric Association [GVEA]);Bryan Carey (Alaska Energy Authority [AEA]);Lee Thibert (Chugach Electric Association [CEA]);Tony Izzo (Matanuska Electric Association [MEA]);Jeff Warner (Anchorage Municipal Light &Power [ML&P]);John Foutz (City of Seward);and Brad Janorschke (Homer Electric Association [HEA]). 3.PUBLIC ROLL CALL Jocelyn Garner,Kirk Warren,Teri Webster,Brandi White (AEA);Mark Johnson (ARCTEC); Michelle Barnett,Amy Fenerty,Lia Patton (Aldrich CPAs &Advisors);Brian Hickey,Sherri Highers,Josh Resnick,Burke Wick (CEA);Stefan Saldanha (Department of Law),Ron Woolf (GVEA);Bob Day,Emily Hutchinson,Larry Jorgenson (HEA);Kirk Gibson (McDowell Rackner Gibson,PC);David Pease,Tony Zellers (MEA);Molly Morrison (ML&P);TW Patch,Bernie Smith (Public);and Sunny Morrison (Accu-Type Depositions). 4.PUBLIC COMMENTS None. 5.AGENDA APPROVAL MOTION:Mr.Janorschke made a motion to approve the agenda.Motion seconded by Mr.Thibert. Motion passed unanimously. 6.PRIOR MINUTES-October 25,2018 MOTION:Mr.Thibert made a motion to approve the Minutes of October 25,2018.Motion seconded by Mr.Janorschke. Mr.Carey corrected the spelling to Jocelyn Garner throughout the minutes. The motion to approve the Minutes of October 25,2018,with the spelling corrections, passed unanimously. 7.NEW BUSINESS A.FY18 BPMC Audited Financial Statement and Refunds Motion to Approve BPMC Minutes 12/7/18 Page 1 of 4 Chair Borgeson introduced representatives from Aldrich CPAs &Advisors,Amy Fenerty, Michelle Barnett and Lia Patton.Ms.Fenerty reviewed the results of the audit provided to Committee members.There were no significant findings to report and an unmodified clean Opinion was issued for the audited financial statements.Ms.Fenerty expressed appreciation to Staff for their cooperation during the audit process.Ms.Fenerty highlighted the refund sections in the financial statements. MOTION:Mr.Janorschke made a motion the Bradley Lake Project Management Committee accept the Fiscal Year 2018 Audited Financial Statements and approve a refund of $1,445,453 ($1,004,466 O&M and $440,987 R&C)to the Utilities and a refund of $635,702 to the Battle Creek Participating Utilities.Motion seconded by Mr.Foutz. Motion passed unanimously. B.Bradley O&M Agreement Update Chair Borgeson introduced Kirk Gibson of McDowell Rackner Gibson,PC to provide the update on the Bradley O&M Agreement.Mr.Gibson noted much progress has been achieved with HEA in narrowing the current unresolved issues.A summary of the changes as result of the discussions has been sent to HEA Counsel.Mr.Gibson expressed optimism the issues could be finalized within the next two weeks. Chair Borgeson advised if the issues are resolved within the next few weeks,a special telephonic meeting may be scheduled to approve the Agreement. Cc.Bradley Federal Lands Transfer Update Mr.Carey informed the Federal Government transferred the remaining Federal lands last spring to the State of Alaska of approximately 5,500 acres.AEA paid the current lands bill and concurrently filed an appeal.The appeal was denied by Federal Energy Regulatory Commission (FERC)in September.AEA filed an appeal to the FERC denial determination and requested a rehearing.AEA submitted an application for amendment to Bradley changing the amount of land in the license.In November,FERC issued an order amending the license to change the amount of land within Bradley and revised the annual charges.All future invoices from FERC for the land fee will be zero.FERC determined in early December,a refund for land fees is due to AEA for $86,558 and is anticipated to be paid within the next month.Mr.Carey explained the federal lands transfer saves the Bradley project land charges of approximately $200,000 to $300,000 annually.He noted another benefit is the Bradley relicensing process in about 10 years will no longer contain a mandatory conditioning authority. Chair Borgeson congratulated Mr.Carey on his good work.He expressed appreciation to the State for selection of the lands for the benefit of the Bradley project. D.Battle Creek Project Update Mr.Carey provided the Battle Creek project update.He informed the contractor worked until the weather became prohibitive in late November.The work is planned to restart in April.The project is slightly behind schedule,but it is still possible to meet the final completion date of August 2020.The project is currently on budget.The contractor has not been submitting their pay applications in a timely manner.Mr.Carey discussed the project photos provided to the Committee. E.Unit 2 Generator Repairs BPMC Minutes 12/7/18 Page 2 of 4 Bob Day of HEA reviewed the provided discussion paper regarding the proposed repair to the Bradley Unit 2 generator.The rotor needs to be removed and a thorough inspection and cleaning of the unit needs to occur.The proposal includes utilization of a mechanical contractor to remove the rotor and an electrical contractor to clean the rotor,stator,and address the corona problems.All work would be conducted onsite.If the repair is conducted during the scheduled February transmission line outage,there will be very little impact to the Northern utilities.Mr.Day informed the expedited timeframe would mean the procurement of the wedging material would be issued as a sole source no-bid contract.If the contract is committed next week,the wedging material can be received by February 18.The mechanical contractor and electrical contractor would be chosen based on an informal bid process and the O&D's review and recommendation of proposals.The project's estimated budget ranges from $500,000 to $950,000. Chair Borgeson clarified the repairs will be funded from the R&C fund and the amount will be spread over four years of plant operations.Ms.Garner agreed. Mr.Izzo inquired if this repair expense could be capitalized and financed over a longer term. Ms.Garner noted the payback over four years for the high estimate of $950,000 is $238,000 each year.She believes the R&C fund is currently the best funding mechanism and suggested the Finance Committee review options.Chair Borgeson noted he will give an assignment to the Finance Committee. MOTION:Mr.Thibert made a motion to recommend approval by the BPMC of HEA's proposal to expedite repairs on Unit 2 generator,to include a sole source contract for the wedge manufacturing,and best value procurement processes for mechanical and generator repair,labor and parts,with costs not to exceed $950,000.Motion seconded by Mr.Izzo. Motion passed unanimously. 8.COMMITTEE ASIGNMENTS Chair Borgeson assigned the Finance Committee to analyze the potential process of financing larger capital projects and larger repair projects.The assignment is not a priority and the Finance Committee is to report to the full Committee at their discretion. A.Budget Subcommittee -Budget to Actual Ms.Garner reviewed the provided Expense Report dated July 1,2018 through August 31,2018. There were no questions.Chair Borgeson expressed appreciation to Ms.Garner for the updated information. B.Operators Report Mr.Day gave an overview of the provided Operator Report and pictures therein.Substantial inspection was conducted after the November 30"earthquake and no damage was found.Both units stayed online and continued to operate. Cc.O&D Report Mr.Warner discussed the provided O&D Report.There were no questions. 9.MEMBERS COMMENTS Members wished all happy holidays,Merry Christmas,and Happy New Year. BPMC Minutes 12/7/18 Page 3 of 4 Mr.Janorschke expressed appreciation to staff for their efforts regarding the financial audit and for focus on the Unit 2 work. Mr.Warner thanked staff for their efforts and expressed appreciation to all the utilities for working well together on operational issues during the earthquake. Chair Borgeson echoed the appreciation for the outstanding audited financial report. 10.NEXT MEETING DATE Chair Borgeson noted the 2019 meeting dates have not yet been scheduled.He advised the Committee to stand readyin January to conduct a meeting to complete and approve the O&M 'Agreement.Chair Borgeson requested regular meetings be scheduled every other month.TheMarchmeetingwillincludeapprovalofthebudget. 11.ADJOURNMENT There being no further business for the committee,the meeting adjourned at 1:59 p.m. o:Cores \Worcyene-Cory y ChairAttest:ggs AngBryanfoe Alaska Energy Authority,Se BPMC Minutes 12/7/18 Page 4 of 4 10. 11. BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE (BPMC) REGULAR MEETING Friday,December 7,2018 1:00 P.M. Alaska Energy Authority Board room 813 W Northern Lights Blvd,Anchorage 1-888-585-9008 -Conference room code 467-050-126 AGENDA CALL TO ORDER ROLL CALL FOR COMMITTEE MEMBERS PUBLIC ROLL CALL PUBLIC COMMENTS AGENDA APPROVAL PRIOR MINUTES --Oct 25,2018 NEW BUSINESS A.FyY18 BPMC Audited Financial Statement and Refunds Aldrich CPAs &Advisors Motion to Approve B.Bradley O&M Agreement update (°an)Kirk Gibson C.Bradley Federal Lands Transfer update (oaAv)AEA D.Battle Creek Project update AEA E.Unit 2 Generator repairs HEA COMMITTEE ASSIGNMENTS A.Budget Subcommittee -Budget to Actual B.Operators Report HEA C.O&D Report Jeff Warner MEMBERS COMMENTS NEXT MEETING DATE -TBD ADJOURNMENT BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING REGULAR MEETING Alaska Energy Authority,Anchorage,Alaska October 25,2018 1.CALL TO ORDER Chair Borgeson called the telephonic regular meeting of the Bradley Lake Hydroelectric ProjectManagementCommitteetoorderat11:02 a.m.A full quorum |was established. 2.ROLL CALL FOR COMMITTEE MEMBERS Cory Borgeson (Golden Valley Electric Association,<{GVE AN).Bryan Carey (Alaska EnergyAuthority[AEA]);Lee Thibert (Chugach Electricsoe Mar cee)Tony Zellers Tee Jona 4.PUBLIC COM aon None.5 otion to Approve the agenda.Motion seconded by Mr.Se Motion passed unanimously. 7.NEW BUSINESS A.Bradley O&M Agreement Resolution 2018-03 to extend O&M agreement MOTION:Mr.Carey made a motion to approve Resolution 2018-03 authorizing the second amendment to the Seconded Amended and Restated O&M Agreement.Motion seconded by Mr.Johnston. DRAFT BPMC Minutes 10/25/18 Page 1 of 3 Mr.Janorschke noted a clerical error on the last paragraph at the bottom of the first page,whichshouldread,"Whereas the Authority and HEA entered the second amended and restated Operation and Maintenance Agreement for Bradley Lake.”The changes are to correct the word amendment to amended and insert the word agreement after maintenance. Mr.Carey noted another non-substantive error in the resolution,and requested changing the current effective O&M Agreement termination date in the first paragraph from January 1,2019 to December 31,2018,at midnight. The Maker of the Motion and the Second approved to include the technical changes to Resolution 2018-03. MOTION:Mr.Janorschke made a motion to aSecondAmendedandRestatedO&M ag € motion to approve Proposed Version 3 of the BudgetibyMr.Thibert. 8.COMMITTEE ASIGNMENTS Chair Borgeson assigned the O&D Committee to complete a thorough review of the need for the trainee apprentice position at the Bradley site and report back to the Committee. 9.MEMBERS COMMENTS Mr.Zellers expressed appreciation for the Committee's approval of the amendment.He believes this is a good step forward to work on the overall agreement. DRAFT BPMC Minutes 10/25/18 Page 2 of 3 Chair Borgeson expressed appreciation to Ms.Webster,Mr.Carey,and Ms.Gardner for their efforts in coordinating the meeting.Chair Borgeson stated it is imperative to have the O&M Agreement in its final form and ready for approval at the November 16,2018 meeting.He encouraged members to engage their staff to spend time working on the agreement. 10.|NEXT MEETING DATE -November 16,2018 Chair Borgeson noted the next meeting date is November 16,2018.He advised the approval of the refund usually occurs after the audit has been completed at the December meeting. 11.ADJOURNMENT BY: Cory Borgeson,Chair Attest: Janet Reiser *: Alaska Energy Authority,Secretary DRAFT BPMC Minutes 10/25/18 Page 3 of 3 +A Bradley Lake Project Management Committee Operating and Revenue Funds Financial Statements and Supplemental Information Years Ended June 30,2018 and 2017 (With Independent Auditor's Report) rye SawyapareHa eT .iisea |ete piousPeed ianrangaie BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Financial Statements and Supplemental Information Years Ended June 30,2018 and 2017 Table of Contents Page Independent Auditors'Report 1-2 Financial Statements: Statements of Assets and Liabilities 3 Statements of Revenues and Expenses 4 Statements of Cash Flows 5 Notes to Financial Statements 6 Supplemental Information: Statements of Expenses 11 O 4 Aldrich CPAs +Advisors LLP :r [C we 800 East Dimond Blvd.#3-670 Anchorage,Alaska 99515 INDEPENDENT AUDITORS'REPORT Bradley Lake Project Management Committee Anchorage,Alaska We have audited the accompanying special-purpose financial statements of the Bradley Lake Project Management Committee (a project management committee)Operating and Revenue Funds,which are comprised of the special- purpose statements of assets and liabilities as of June 30,2018,the related special-purpose statements of revenues and expenses,the special-purpose statements of cash flows for the year then ended,and the related notes to the financial statements. Management's Responsibility for the Financial Statements The Bradley Lake Project Management Committee is responsible for the preparation and fair presentation of these special-purpose financial statements in accordance with accounting requirements of the Operating and Revenue Funds established under the Alaska Energy Authority Power Revenue Bond Resolution as described in Note 1. This includes the design,implementation,and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement,whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these special-purpose financial statements based on our audit.We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.The procedures selected depend on the auditor's judgment,including the assessment of the risks of material misstatement of the financial statements,whether due to fraud or error.In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control.Accordingly,we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management,as well as evaluating the overall presentation of the financial statements. We believe the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion,the special-purpose financial statements referred to above present fairly,in all material respects,the assets and liabilities of the Bradley Lake Project Management Committee Operating and Revenue Funds,as of June 30,2018,its revenues and expenses,and its cash flows for the year then ended,on the basis of accounting described in Note 1. Report on Supplemental Information Our audit was conducted for the purpose of forming an opinion on the special-purpose financial statements as a whole.The supplemental special-purpose Statements of Expenses is presented for purposes of additional analysis and is not a required part of the special-purpose financial statements.Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the special-purpose financial statements.The supplemental information has been subjected to the auditing procedures applied in the audit of the special-purpose financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the special-purpose financial statements or to the special-purpose financial statements themselves,and other additional procedures in accordance with auditing standards generally accepted in the United States of America.In our opinion,the supplemental information is fairly stated in all material respects in relation to the special-purpose financial statements as a whole. Prior Period Financial Statements The special-purpose financial statements and supplemental information of the Bradley Lake Project Management Committee Operating and Revenue Funds as of June 30,2017,were audited by other auditors whose report dated November 28,2017,expressed an unmodified opinion on those special-purpose financial statements and supplemental information. Basis of Accounting We draw attention to Note 1 of the special-purpose financial statements,which describes the basis of accounting. The special-purpose financial statements are prepared on the basis of the accounting requirements of the Operating and Revenue Funds established under the Alaska Energy Authority Power Revenue Bond resolution,as discussed in Note 1,which is a basis of accounting other than accounting principles generally accepted in the United States of America,to comply with accounting requirements of the bond resolution referred to above.Our opinion is not modified with respect to that matter.° Restriction on Use This report is intended solely for the information and use of the Bradley Lake Project Management Committee and is not intended to be and should not be used by anyone other than that specified party. Aldrich CPAs +Adviders LLP Anchorage,Alaska November 28,2018 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Statements of Assets and Liabilities June 30,2018 and 2017 ASSETS Current Assets: Cash and cash equivalents (Note 2) Due from R &C Fund (Note 5) Accounts receivable Prepaid expenses Total Assets LIABILITIES Current Liabilities: Due to AEA (Note 4) Accounts payable Payable to utilities -O&M refund (Note 5) Payable to utilities -R&C refund (Note 5) Payable to utilities -Battle Creek refund (Note 5) Unearned revenue (Note 1) Total Liabilities See accompanying notes to financial statements. 2018 2017 3,363,177 3,769,778 440,987 1,147,663 21,000 - 51,269 - 3,876,433 4,917,441 2018 2017 87,286 622,007 1,308,769 1,035,795 1,004,466 1,223,409 440,987 1,147,663 635,702 - 399,223 888,567 3,876,433 4,917,441 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Statements of Revenues and Expenses Years Ended June 30,2018 and 2017 2018 Variance Favorable 2017 Budget Actual (Unfavorable)Actual Revenues: Utility contributions,$20,952,703 $18,871,545 $(2,081,158)$17,172,295 net of surplus refund Capital reserve contributions 2,796,378 2,796,378 -- Interest receipts 1,845,000 2,079,212 234,212 1,991,555 Other revenue -17,251 17,251 - Total Revenues 25,594,081 23,764,386 (1,829,695)19,163,850 Expenses,Fixed Asset Replacements, Transfers and Debt Service: Operations and maintenance 7,430,494 6,702,278 728,216 6,488,688 Debt service,net of IRS subsidy 13,681,164 13,102,048 579,116 12,426,200 Capital reserve contributions 2,936,378 2,796,378 140,000 - Cost of issuance 21,217 25,730 (4,513)- Arbitrage transfer 304,713 270,777 33,936 334,404 Fixed asset replacements 1,323,500 970,560 352,940 89 Interfund transfer (103,385)(103,385)-(85,531) Total Expenses,Fixed Asset Replacements,Transfers and Debt Service 25,594,081 23,764,386 1,829,695 19,163,850 Excess of Revenues Over Expenses,Fixed Asset Replacements,Transfers and Debt Service $-$-$-$- See accompanying notes to financial statements.4 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Statements of Cash Flows Years Ended June 30,2018 and 2017 2018 2017 Cash Flows from Operating Activities: Excess of revenues over expenses,fixed asset replacements,$-$- transfers and debt service Adjustments to reconcile excess of revenues over expenses fixed asset replacements,transfers and debt service to net cash provided by (used in)operating activities: Changes in assets and liabilities: Due from R &C fund 706,676 (91,702) Accounts receivable (21,000)- Prepaid expenses (51,269)85,194 Due to AEA (534,721)606,959 Accounts payable 272,974 257,301 Payable to utilities -O&M refund (218,943)158,996 Payable to utilities -R&C refund (706,676)91,702 Payable to utilities -Battle Creek refund 635,702 - Unearned revenue (489 344)872,281 Net Cash Provided by (Used in)Operating Activities (406,601)1,980,731 Cash and Cash Equivalents,beginning of year 3,769,778 1,789,047 Cash and Cash Equivalents,end of year $3,363,177 $3,769,778 Supplemental Disclosure of Cash Flows Information: Interest paid $2,589,650 $3,137,900 See accompanying notes to financial statements.5 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Notes to Financial Statements Years Ended June 30,2018 and 2017 Note 1 -Significant Accounting Policies Description of Business The Bradley Lake Project Management Committee (the Committee)was established pursuant to Section 13 of the Agreement for the Sale and Purchase of Electric Power (Power Sales Agreement)dated December 8,1987.The purpose of the Committee is to arrange for the operation and maintenance of the Bradley Lake Hydroelectric Project (the Project),which became operational in September 1991,and the scheduling,production and dispatch of power. The members of the Committee include the Alaska Energy Authority (AEA)and the five purchasers under the Power Sales Agreement -Chugach Electric Association,Inc.(CEA);Golden Valley Electric Association,Inc.;the Municipality of Anchorage (Municipal Light &Power);the City of Seward (Seward Electric System);and the Alaska Electric Generation &Transmission Cooperative,Inc.(AEG&T).AEG&T assigned its rights pertaining to Homer Electric Association,Inc.(HEA)under the Power Sales Agreement to Alaska Electric and Energy Cooperative,Inc. (AE&EC)in 2003.HEA and the Matanuska Electric Association,Inc.(MEA)are additional parties to the Power Sales Agreement but are included as power purchasers for purposes of representation while AEG&T and AE&EC have no direct vote as a consequence of the individual representation of HEA and MEA. Section 13 of the Power Sales Agreement delineates other Committee responsibilities,including:establishing procedures for each party's water allocation,budgeting for annual Project costs and calculating each party's required contribution to fund annual Project costs.Committee approval of operations and maintenance arrangements for the Project,sufficiency of the annual budgets and wholesale power rates and the undertaking of optional Project work requires a majority affirmative vote and the affirmative vote of AEA. The Power Sales Agreement extends until the later of:1)50 years after commencement of commercial operation or 2)the complete retirement of bonds outstanding under the AEA Power Revenue Bond Resolution along with the satisfaction of all other payment obligations under the Power Sales Agreement.Renewal options for additional terms exist. The Committee is developing a project which will divert the water flows of Battle Creek into Bradley Lake to increase the water for use by the Project.All purchases are supportive of the expansion of the capabilities of the Project through the development of the Battle Creek Diversion Project (BCD Project).The activities of the Committee regarding the BCD Project are authorized as Optional Project Work under the Power Sales Agreement.Not all purchasers are participating in the BCD Project.The participating purchasers,who make up the Battle Creek Participating Utilities (BCPU),are:CEA,HEA,MEA,and City of Seward. During the years ended June 30,2018 and 2017,approximately $6.9 million and $876,000,respectively,of capital additions occurred relating to the Battle Creek Diversion project to enhance the Bradley Lake Hydroelectric Project. This project will divert the upper part of Battle Creek into Bradley Lake and the increase in water will enable the Project to produce an additional annual average of 37,000 Megawatt hours (nearly a 10%increase in Bradley Lake's annual energy).An amendment to the Bradley Lake Hydroelectric Project Federal Energy Regulatory Commission license was received in September 2016.Construction began in 2018 and is anticipated to be complete in the fall of 2020.The construction cost estimate for this project is $47.2 million. To date funding for the BCD Project has come from debt proceeds,State appropriations,the Bradley Lake R&C Fund,and direct contributions from the BCPU.Debt was issued in December 2017 to fund the construction of the project.Capital additions paid for with debt proceeds was $6.6 million during the year ended June 30,2018.The State funded approximately $52,000 in the year ended June 30,2017,and no state funds were used in the year ended June 30,2018.The BCPU began direct funding the project in October 2016 and funded approximately $335,000 and $799,000 in the years ended June 30,2018 and 2017,respectively. BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Notes to Financial Statements Years Ended June 30,2018 and 2017 Note 1 -Significant Accounting Policies,continued Establishment of Trust Funds Article V,Section 502 of the Alaska Energy Authority's Power Revenue Bond Resolution established a Revenue Fund and an Operating Fund,including an Operating Reserve account,to be held by AEA.In actuality these funds, along with the Debt Service,Excess Investment Earnings (arbitrage),and various construction funds related to the Bradley Lake Hydroelectric Project are all held by the Corporate Trust Department of US Bank in Seattle, Washington. In December 2017,AEA issued debt for the construction of the Battle Creek Diversion project.This debt is parity debt under the current Power Revenue Bond Resolution.A separate Revenue Fund,Operating Fund,Operating Reserve account,Construction Fund,Capital Reserve Fund,and Debt Service Fund were established related to the Battle Creek Diversion project. All deposits,including utility contributions and interest transferred from other funds,are made into the Revenue Funds.Monthly,transfers approximately equal to one-twelfth of the annual operating and maintenance budget are transferred from the Revenue Funds into the Operating Funds.Additional transfers are made from the Revenue Funds to the Debt Service Funds in order to satisfy semiannual interest payments and annual principal payments on the Project's outstanding bonds payable. Interest earnings available for operations and maintenance are derived from the following funds:Debt Service Funds;Operating Reserve Funds;Operating Funds;Revenue Funds;Capital Reserve Funds;and the Renewal & Contingency Fund when the fund balance is $5,000,000 or greater. Revenue and Expense Recognition Utility contributions are recognized as revenue when due to be received under the terms of the Power Sales Agreement.Utility contributions of $399,223 and $888,567 for the years ended June 30,2019 and 2018, respectively,were received prior to June 30,2018 and 2017,respectively,and are included in liabilities as unearned revenue.Transfers from other funds are recognized when the transfer is made and interest earnings are recognized when received.Operating and maintenance expenses are recognized when incurred,while transfers to Debt Service Fund and Excess Earnings Funds are recognized when the transfer is made.Purchases of fixed asset replacements are expensed when purchased.The Renewal and Contingency Reserve Fund (R &C Fund)is reimbursed for capital costs over a four year period.Transfers to the R &C Fund for repayment of funds withdrawn for capital costs occur monthly based on the budgeted R &C expenditures.At year end,the actual Operating FundexpensesandR&C Fund repayments are compared to the actual revenue and a refund is given to the utilitieswhenasurplusofrevenuesoccursorinvoicesareissuedtotheutilitiesifexpensesexceedrevenues. Estimates The preparation of the special-purpose financial statements of the Operating and Revenue Funds requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities anddisclosureofcontingentassetsandliabilitiesatthedateofthefinancialstatementsandthereportedamountsof revenues and expenses during the reporting period.Actual results could differ from those estimates. Income Taxes The Committee is exempt from income taxation under Section 501(a)of the Internal Revenue Code.Therefore, the Committee had no deferred tax liabilities or assets or tax carryforwards as of June 30,2018 and 2017 and no current or deferred tax expense for the years then ended. Subsequent Events The Committee has evaluated subsequent events through November 28,2018,the date on which the special- purpose financial statements were available to be issued. BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Notes to Financial Statements Years Ended June 30,2018 and 2017 Note 1 -Significant Accounting Policies,continued Reclassification The presentation of certain prior year information has been reclassified to conform to the presentation in the 2018 financial statements.Such reclassifications have no effect on the excess of revenues over expenses,fixed asset replacements,transfers and debt service. Note 2 -Cash and Cash Equivalents At June 30,2018,$2,610 of the balance in the Operating Funds was invested in First American Treasury Obligations money market fund and $855,664 of the balance in the Operating Funds was invested in collateralized guaranteed investment contracts with JP Morgan Chase Bank through the trust department of US Bank.At June 30,2017,$2 of the balance in the Operating Fund was invested in First American Treasury Obligations money market fund and $2,431,119 of the balance was invested in collateralized guaranteed investment contracts with JP Morgan Chase Bank through the trust department of US Bank. At June 30,2018,$399,223 of the balance in the Revenue Fund is in deposits,$733,871 of the balance in the Revenue Fund is invested in First American Treasury Obligations money market fund,and $1,371,809 of the balance is invested in collateralized guaranteed investment contracts with JP Morgan Chase Bank.At June 30, 2017,$888,575 of the balance in the Revenue Fund was invested in First American Treasury Obligations money market fund and $450,082 of the balance was invested in collateralized guaranteed investment contracts with JP Morgan Chase Bank.The specified interest rate for monies from the Operating and Revenue Funds invested in the contracts with JP Morgan Chase is 7.38%per annum.Balances at June 30,2018 and 2017 are as follows: 2018 2017 Operating Fund $858,274 $2,431,121 Revenue Fund 2,504,903 1,338,657 Total cash and cash equivalents $3,363,177 $3,769,778 Investments are sold as needed to cover operating requisitions submitted to the trustee and are therefore considered to be short-term and available for sale.Investments are presented at aggregate cost,which is equal to fair value. Management considers the full amount of the cash and cash equivalents balance to be cash available for operations. BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Notes to Financial Statements Years Ended June 30,2018 and 2017 Note 3 -Major Contracts and Agreements During May 1994,the Alaska Energy Authority (AEA)entered into the Master Maintenance and Operating agreement with the Committee.The purpose of the agreement is to establish contract administration and budgeting procedures for maintenance and operation contracts of the Bradley Lake Hydroelectric Project and to provide for the lease or other use of facilities and equipment in a manner consistent with the requirements of the Power Sales Agreement.The term of the Master Agreement is indefinite,remaining in effect until termination of the Power Sales Agreement or until AEA no longer legally exists.This agreement authorizes AEA to enter into any contracts necessary to perform operating or maintenance-type services to the Project,subject to the approval of the Committee. On behalf of the Committee,the AEA entered into an agreement with Chugach Electric Association,Inc.(CEA)in August 1996,for the provision of all services necessary to dispatch the Project's electric power output.The dispatch agreement runs concurrently with the wheeling and related services contract entered into by and among the parties to the Power Sales Agreement in December 1987 and remains in effect for the term of the wheeling agreement unless CEA ceases to be the output dispatcher. In August 1996,the Alaska Energy Authority entered into an agreement with CEA on behalf of the Committee for the provision of operations and maintenance services for the Daves Creek and Soldotna Static VAR Compensation System (SVS).This agreement terminated as to the Solodtna SVS upon the termination of the lease related to the Soldotna SVS.In January 2018,the Alaska Energy Authority entered into the Soldotna Static VAR Compensation System Operation and Maintenance Agreement with Alaska Electric and Energy Cooperative,Inc.(AE&EC).This agreement continues from year to year,except upon written notice to terminate by either party.Notice of termination must be given two years in advance of date of termination. An operation and maintenance agreement dated February 11,1994,was executed between Homer Electric Association,Inc.and the Alaska Energy Authority.This agreement provides for the operation and maintenance of the Bradley Lake Hydroelectric Project by Homer Electric Association,Inc.(HEA).HEA is to be reimbursed for costs associated with the operation,maintenance and repair of the Project as determined in advance through the submission of an annual budget based upon prudent estimates and anticipated operation and maintenance costs. The Second Amended and Restated Operations and Maintenance Agreement effective as of July 1,2008 automatically continues in successive five-year terms thereafter unless terminated by either party as set forth in the amended agreement.Generally,to avoid an automatic successive five-year term extension,notice of termination by either party must be given two years in advance of the termination date.The agreement,as amended effective June 15,2016,is extended to January 1,2019.Subsequent to year end,the Committee authorized AEA to enter into a Second Amendment to the Second Amended and Restated Operation and Maintenance agreement which extends the agreement for three months to March 31,2019.AEA gave notice of termination to the Second Amended and Restated Operation and Maintenance Agreement for the Bradley Lake Project on December 27,2016. In August 1996,the agreement was amended to separate the maintenance of the transmission facilities from the hydroelectric project.The transmission agreement continues from year-to-year,except upon written notice to terminate by either party.Notice of termination must be given six months in advance of termination dates.In June 1999,the transmission agreement was again amended to require HEA to provide communication services in addition to the other services. BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Notes to Financial Statements Years Ended June 30,2018 and 2017 Note 4 -Related Party Transactions During the years ended June 30,2018 and 2017,costs incurred under the various contracts with related parties described in Note 3 were as follows: 2018 2017 Homer Electric Association,Inc.-operation,maintenance, substation serice maintenance,communications,and fixed asset replacements $3,223,101 $2,299,506 Chugach Electric Association,Inc.-substation service maintenance and fixed asset replacements $1,389,802 $160,311 Alaska Energy Authority -administrative fees $222,000 $200,000 For the years ended June 30,2018 and 2017,Chugach Electric Association,Inc.provided dispatch services to the Committee at the agreed upon amount which is zero. Amounts payable to related parties at June 30,2018 and 2017 were as follows: 2018 2017 Included in accounts payable: Homer Electric Association,Inc.$1,038,874 $614,107 Chugach Electric Association,Inc.$8,151 $82,475 Due to others: Alaska Energy Authority -short-term borrowing for vendor payments $87,286 $622,007 Note 5 -Surplus Refunds The $1,004,466 operations and maintenance and $440,987 renewal and contingency surpluses at June 30,2018 will be refunded to member utilities in fiscal year 2019 pursuant to the Power Sales Agreement and direction of the Committee.The $635,702 Battle Creek Participating Utilities surplus at June 30,2018 will be refunded to member utilities in fiscal year 2019 pursuant to the Power Sales Agreement,the Battle Creek Diversion Project Share Allocation,and direction of the Committee. The $1,223,409 operations and maintenance and $1,147,663 renewal and contingency surpluses at June 30,2017 were refunded to member utilities in fiscal year 2018 pursuant to the Power Sales Agreement and direction of the Committee. Note 6 -Subsequent Events In October 2018,the Committee authorized AEA to enter into a Second Amendment to the Second Amended and Restated Operations and Maintenance Agreement which extended the term of the operation and maintenance agreement for three months to March 31,2019. 10 SUPPLEMENTAL INFORMATION BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE OPERATING AND REVENUE FUNDS Statements of Expenses Years Ended June 30,2018 and 2017 Expenses: Generation expense: Operation supervision and engineering $ Hydraulic operation Electric plant operation Hydraulic power generation operation FERC !fand use fees Structure maintenance Reservoir,dam,and waterway maintenance Electric plant maintenance Hydraulic plant maintenance System control and load dispatching Substation operation and maintenance Overhead line maintenance Total Generation Expense: Administrative,general and regulatory expense: Insurance Administrative fees Committee costs Regulatory commission: FERC administrative fees FERC licensing and study Total Administrative,General and Regulatory Expense Total Operations and Maintenance Expenses, before Capital Project Reimbursement R &C Fund Repayment Total Operations and Maintenance Expenses $ 2018 Variance Favorable 2017 Budget Actual _(Unfavorable)Actual 290,337 $271,485 $18,852 $293,523 98,453 70,008 28,445 72,202 276,026 216,990 59,036 231,505 565,423 479,587 85,836 438,398 318,000 202,079 115,921 230,614 437,752 402,310 35,442 345,782 87,110 9,314 77,796 124,151 473,602 364,198 109,404 316,825 133,353 139,689 (6,336)92,033 365,105 371,550 (6,445)324,629 153,726 134,770 18,956 160,311 236,402 64,301 172,101 237,061 3,435,289 2,726,281 709,008 2,867,034 581,000 624,705 (43,705)554,670 222,000 225,525 (3,525)200,000 88,898 269,145 (180,247)99,492 185,000 176,523 8,477 122,210 125,000 100,999 24,001 168,377 1,201,898 1,396,897 (194,999)1,144,749 4,637,187 4,123,178 514,009 4,011,783 2,793,307 2,579,100 214,207 2,476,905 7,430,494 $6,702,278 $728,216 $6,488,688 See accompanying notes to financial statements.11 Item 7D West Fork Upper Battle Creek Update December 7,2018 Events: e Contractor stopped work Wednesday November 21 because of snow. e Contractor at base of Wall 3,about 2,000 feet from diversion site. Schedule: Upper Access Road pioneered to base of Wall 3. Awaiting schedule,however 2019 will be very busy with road completion,pipe installation,outfall work,and diversion dam work.Diversion dam work could be pushed to Spring 2020. Contractor behind initial schedule.Will need to use more effort in 2019. Contract document have substantial completion July 2020 &final August 2020. Budget: Contractor on budget.AEA is awaiting information from the contractor for several Change Orders. Lower access road very close to estimated.Upper access road will have greater rock excavation and less Wall than estimated. Contractor has been slow to send Pay Applications.Once received,DOWL spends time performing detailed reviewing since survey &quantity data will have issues. Approved Pay Applications will generally be several hundred thousand less than requested. Photo 1:Wall 2 &By-pass a .eg tetnetCRE:Tn tty IAD go * Photo 3:End of season snow SITY OT Discussion Paper for Bradley Generator #2 proposed repair |am still working on refining the budgetary estimates of the activities for the generator #2 repair The current estimate for the mechanical work is about $186,000. The electrical work we are a little less sure of the total costs involved as we won't know the extent of the work required until we can get the rotor out and do a comprehensive inspection. |estimate the low end of electrical work to be at least 100,000 and the upper end to be not more than 650,000. The wedging material is estimated at around $85,000 (see the letter "scan0003”) Hiring a cook/housekeeper for the duration should cost about $50,000 Attached is the most recent letter from IRIS discussing the status of the generator We are working with IRIS to see if they will provide a more definitive recommendation,in verbal discussion IRIS has told Kelly Williams that the unit needs to be repaired sooner,not later. It is clear the unit needs some attention in the future,so the decision is do we do it now or postpone the work.If we do the work in February there is little impact to the Northern utilities. Were the unit to fail it would be down for an extended time period (say 4 months or more).As a total SWAG |would guess that loss of the 2™unit during normal load periods could present a cost of 20K to 30K per day in extra energy costs.(2.4 Million+) In order to make things happen in February we would need to suspend our normal bid procedures for a job of this size and conduct a sole source,best value evaluation. We could mitigate some of the financial impact by delaying some currently budgeted projects (Bridge repair and fire system repair are good candidates) |believe we need to make the go/no-go decision at today's meeting. |would ask the O&D to approve the out of budget repairs of Generator 2 NTE $950,00 and that the O&D directs the operator to proceed with the procurement done under a sole source "best value”in order to get this work accomplished during the scheduled Transmission line outage in February. |would also ask for immediate approval of the purchase of the wedging material in order to meet the outage schedule. Thanks in advance Bob Day Project Manager Bradley Lake Hydro pest Bradly O&D Unit 2 Generator repair motion J ak 7g debe Whe repos forthe weds Mon4oveGa.Vout Move to recommend approval by the BPMC HEA's proposal to ole source the contracts,forthe wedge Approve)TO Seekheactsmanufacturing?Mechanical and generator repair labor and parts necessary to repair Unit 2 generator.O&D-+recommendationferapprovatbytheBRMC is subject to any reviston-ef$950k cost estimate. Moved Second HEA GVEA MEA Chugach AEA Seward ML&P wh Cosis hot 4o &ceed Burke Wick Chugach BryanCarey AEA Yes Yes Yes Yes Yes Absent Yes Bradley Lake Budget to Actual Expense Report 07/01/2018 to 08/31/2018 Page 1 of 9 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Schedule A-1 Expenses for the period 07/01/18 through 08/31/18 FY18 FY18 FY19 FY19CAPITALPURCHASESNOTFUNDEDBYR&C FUND BUDGET|ACTUALS |BUDGET]ACTUALS Replace/Automate Fish Water Valve Actuators 225,000 361,430 -364 Equipment storage shed (unheated bus barn)100,000 67,539 -- 1 ton Flatbed with Plow 65,000 57,016 -- Battle Creek Bridge Repair Refurbishment (2)182,000 -|200,000 - Mobil Crane 40 to 50 tons (used)100,000 88,875 -- Replace Michigan Loader 350,000 263,306 -- Upgrade Crews Quarters and Residents Kitchen 165,000 1,850 -- Replace 1988 Suburban Ambulance 65,000 59,430 -5,350 1/2 ton Pick up truck 35,000 34,693 -- Replace High Bay Lighting in Power Plant 20,000 19,920 -- Turbine Nozzle Repair --60,000 - Tire Machine --12,500 - Total Non R&C Capital Purchases -_1,307,000 954,059 272,500 5,714 Page 2 of 9 ALASKA ENERGY AUTHORITY BRADLEY LAKE OPERATIONS &MAINTENANCE SCHEDULE B BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2018 THROUGH 08/31/2018 FY 19 FY 18 BUDGET % FY19 Approved 07/01/2018 -(Over)Under FY18 Approved Budget 08/31/2018 HEA Actual CEA Actual AEA Actual Total Actual Budget to Date Budget FY18 Actual Summary by expense type Labor &Benefits 1,900,742 316,792 263,873 9,295 +273,168 43,624 1,889,814 1,578,236 Travel 33,950 5,659 2,810 :=2,810 2,849 76,950 16,114 Training 49,300 8,217 *--:8,217 49,300 14,046 Contractual 1,033,216 172,202 82,355 ©9,120 91,475 80,727 841,062 659,773 Supplies &Materials 204,345 34,056 17,802 670 :18,472 15,584 183,345 152,799 Other Costs 69,818 11,636 5,949 4,921 -10,870 766 387,818 276,370 i Furniture and Machinery 7,000 1,167 °.:.1,167 7,000 25,562 Maintenance Projects °5 -..---3,381 lAdministrative Costs 1,233,537 205,588 2,879 =172,899 475,778 29,810 1,158,098 1,259,441 4,531,908 755,317 375,669 14,886 182,019 $72,574 182,743 4,593,387 3,985,722 FERC 535 -Operation Supervision &Engineering Operations Sup/Eng Bradley Lake Operating Labor &Benefits 270,953 45,159 45,095 =45,095 64 265,587 262,431 Travel 10,450 1,742 2,470 .a 2,470 (728)10,450 2,271 Training 9,300 1,550 °°-E 1,550 9,300 3,452 Contractual 1,000 167 85 -*85 82 1,000 121 Supplies &Materials 4,000 667 210 .=210 457 4,000 3,210 Bradley Lake Operating Total 295,703 49,285 47,860 -:47,860 1,425 290,337 271,485 FERC 535 -Operation Supervision &Engineering Total 295,703 49,285 47,860 :*47,860 1,425 290,337 271,485 FERC 537 -Hydraulic Expenses Hydraulic Expenses Bradley Lake Operating Labor &Benefits 98,853 16,476 13,169 ::13,169 3,307 94,453 69,032 Contractual 2,000 333 --:2 333 2,000 : Supplies &Materials 2,000 333 116 -:116 217 2,000 976 Bradley Lake Operating Total 102,853 17,142 13,285 :.13,285 3,857 98,453 70,008 FERC $37 -Hydraulic Expenses Total 102,853 17,142 13,285 -:13,285 3,857 98,453 70,008 FERC 538 -Electric Expenses Electric Expenses Bradley Lake Operating Labor &Benefits 240,998 40,166 37,726 id >37,726 2,440 232,294 202,969 Travel 7,000 1,167 340 ::340 827 7,000 6,877 Training 25,000 4,167 .°=:4,167 25,000 231 Contractual 2,000 333 -=.-333 2,000 1,400 Supplies &Materials 9,732 1,622 184 :=184 1,438 9,732 $,$13 Bradley Lake Operating Total 284,730 47,455 38,250 ::38,250 9,205 276,026 216,990 FERC 538 -Electric Expenses Total 284,730 47,455 38,250 ::38,250 9,205 276,026 216,990 FERC 539 -Misc.Hydraulic Power ion Exp Misc Hydro Power Exp Bradley Lake Operating labor &Benefits 216,960 36,160 29,310 .+29,310 6,850 179,530 172,689 Training 15,000 2,500 .::-2,500 15,000 10,363 Contractual 287,525 47,921 25,302 --25,302 22,619 287,525 212,841 Supplies &Materials 17,900 2,983 1,548 *:1,548 1,435 17,900 18,271 Bradley Lake Operating Tota!537,385 89,564 56,159 --$6,159 33,408 499.955 414,164 BRADLEY CIRCUITS/RADIO TO BERNICE LK Other Costs 35,695 5,949 5,949 :-5,949 {0)35,695 35,696 BRADLEY CIRCUITS/RADIO TO BERNICE LK Total 35,695 5,949 5,949 --$,949 (0)35,695 35,696 BRADLEY CIRCUITS BERNICE LK TO ANCH Other Costs 29,773 4,962 .4,921 °4,921 41 29,773 29,728 BRADLEY CIRCUITS BERNICE LK TO ANCH Total 29,773 4,962 -4,921 -4,921 41 29,773 29,728 FERC 539 -Misc.Hydraulic Power i Total 602,853 100,475 62,108 4,921 -67,029 33,446 565,423 479,587 FERC S40 -Rents FERC Land Use Fee Bradley Lake Operating Other Casts :::::a :318,000 202,079 Bradley Lake Operating Totat :---<:-318,000 202,079 FERC 540 -Rents Total --::-::318,000 202,079 FERC 542 -Maintenance Supervision &Engineering Maint Supervision/Eng Bradley Lake Operating Labor &Benefits 277,696 46,283 42,542 -=42,542 3,741 272,586 263,101 Bradley Lake Operating Totat 277,696 46,283 42,542 -*42,542 3,741 272,586 263,101 FERC 541 -Maintenance Supervision &Engineering Total 277,696 46,283 42,542 --42,842 3,741 272,586 263,101 Page 3 of 9 ALASKA ENERGY AUTHORITY BRADLEY LAKE OPERATIONS &MAINTENANCE SCHEDULE B BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2018 THROUGH 08/31/2018 FY 19 FY 18 BUDGET % FY19 Approved 07/01/2018 -(Over)Under FY18 Approved Budget 08/31/2018 HEA Actual CEA Actual AEA Actual Total Actual Budget to Date Budget FY18 Actual FERC 542 -Maintenance of Structures Maintenance of Structures Bradley Lake Operating Labor &Benefits 98,853 16,476 13,193 :13,193 3,283 94,453 70,197 Contractual 10,000 1,667 :::1,667 10,000 : Supplies &Materials 53,713 8,952 10,129 :10,129 (1,177)53,713 57,919 Equipment,Furniture and Machinery 7,000 1,167 --:1,167 7,000 8,513 Maintenance Projects ==:---a 2,581 Bradley Lake Operating Total 169,566 28,262 23,322 :23,322 4,940 165,166 139,209 BRADLEY UPGRADE CREWS QTRS/RESIDENCE KITCHEN Contractual 165,000 27,500 -:-27,500 :: BRADLEY UPGRADE CREWS QTRS/RESIDENCE KITCHEN Total 165,000 27,500 :-:27,500 -- FERC 542 -Maintenance of Structures Total 334,566 $5,762 23,322 -23,322 32,440 165,166 139,209 FERC 543 -Maintenance of Reservoirs,Dams &Waterways Maint Res,Dams,WWays Bradley Lake Operating Labor &Benefits 53,091 8,849 2,944 :2,944 5,905 $0,610 9,314 Contractual 6,500 1,083 =:.1,083 6,500 : Bradley Lake Operating Total 59,591 9,932 2,944 :2,944 6,988 $7,110 9,314 BRADLEY NUKA REPAIR Contractual 15,000 2,500 :::2,500 15,000 : SRADLEY NUKA REPAIR Total 15,000 2,500 :>-2,500 15,000 - BRADLEY POWER TUNNEL MAINT (Dam} Contractual 15,000 2,500 :::2,500 15,000 : BRADLEY POWER TUNNEL MAINT (Dam)Total 15,000 2,500 ::-2,500 15,000 - FERC 543 -Maintenance of Reservoirs,Dams &Waterways Tota 89,591 14,932 2,944 -2,944 11,988 87,110 9,314 FERC 544 -Maintenance of Electric Plant Maintenance of Elec Plant Bradley Lake Operating Labor &Benefits 397,141 66,190 52,821 -$2,821 13,369 379,102 291,662 Travel 4,500 750 ':*750 4,500 : Contractual 70,000 11,667 11,523 -11,523 144 70,000 $9,793 Supplies &Materials 20,000 3,333 5,376 :5,376 (2,043)20,000 12,743 Bradley Lake Operating Total 491,641 81,940 69,720 :69,720 12,220 473,602 364,198 BRADLEY REPLACE LIGHTING IN POWER PLANT Supplies &Materials 30,000 5,000 .-°5,000 -: BRADLEY REPLACE LIGHTING IN POWER PLANT Total 30,000 5,000 :-*5,000 :- FERC 544 -Maintenance of Electric Plant Total 521,641 86,940 69,720 :69,720 17,220 473,602 364,198 FERC 545 -of Misc.Hydraulic Plant Maint of Misc Hydr Piant Bradley Lake Operating Labor &Benefits 98,853 16,476 14,084 +14,084 2,392 94,453 86,833 Contractual 3,900 650 :--650 3,900 2,009. Supplies &Materials 35,000 §,833 239 +239 5,594 35,000 49,502 Bradley Lake Operating Total 137,753 22,959 14,324 a 14,324 8,635 133,353 138,344 BRADLEY FISH WATER DSGN/MIDDLE FORK SHACK IMPR Supplies &Materials -+-::--1,345 BRADLEY FISH WATER DSGN/MIDDLE FORK SHACK IMPR Tot :--::--1,348 FERC 545 -of Mise.Hydraulic Plant Totat 137,753 22,959 14,324 :14,324 8,635 133,353 139,689 Page 4 of 9 ALASKA ENERGY AUTHORITY BRADLEY LAKE OPERATIONS &MAINTENANCE SCHEDULE 8 BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2018 THROUGH 08/31/2018 FY 19 FY 18 BUDGET % FY19 Approved 07/01/2018 -(Over)Under FY18 Approved Budget 08/31/2018 HEA Actual CEA Actual AEA Actual Total Actual Budget to Date Budget FY18 Actual FERC 556 -System Control &Load Dispatching System Cnt!&Load Disp Bradley Lake Operating Labor &Benefits 21,506 3,584 11,878 -+11,878 (8,294)20,618 34,363 Contractual 53,000 8,833 40,327 -:40,327 (31,494)53,000 35,618 Supplies &Materials 6,000 1,000 ---:1,000 6,000 642 Equipment,Furniture and Machinery :::-:::-16,254 Bradley Lake Operating Total 80,506 13,417 52,205 :E 52,205 (38,788)79,618 86,878 BRADLEY EMERSON ANTIVIRUS UPGRADE Contractual 40,000 6,667 ::-:6,667 :: BRADLEY EMERSON ANTIVIRUS UPGRADE Total 40,000 6,667 :.+.6,667 -- Snow Measurement Bradley Lake Operating Contractual 12,000 2,000 .a -.2,000 10,000 10,000 Bradley Lake Operating Totat 12,000 2,000 ->-2,000 10,000 10,000 Seismic Service Bradley Lake Operating Contractual 62,000 10,333 +:9,120 9,120 1,213 62,000 61,285 Bradtey Lake Operating Total 62,000 10,333 ':9,120 9,120 1,213 62,000 61,285 Streamguaging Serv Bradley Lake Operating Contractual 206,291 34,382 <:a :34,382 213,137 213,137 Bradley Lake Operating Total 206,291 34,382 -:--34,382 213,137 213,137 Permits Bradley Lake Operating Other Costs 350 58 -::.58 350 250 Bradley Lake Operating Total 350 58 :-:-58 350 250 FERC 556 -System Control &Load Dispatching Total 401,147 66,857 52,205 -9,120 61,325 5,532 365,105 371,550 FERC 562 -Station Expenses Station Expenses Bradiey Lake Operating Labor &Benefits 94,718 15,786 1,111 9,295 -10,406 5,380 123,726 112,738 Travel 2,000 333 -:-:333 6,000 1,701 Contractuat 32,000 5,333 5,118 ::$,118 215 4,000 7,440 Supplies &Materials 21,000 3,500 :670 :670 2,830 16,000 2,678 Other Costs 4,000 667 +-:-667 4,000 8,618 Equipment,Furniture and Machinery .°>..::+795 Maintenance Projects -7 2 --:>-800 Bradley Lake Operating Total 153,718 25,619 6,229 9,965 -16,194 9,425 153,726 134,770 FERC 562 -Station Expenses Total 153,718 25,619 6,229 9,965 -16,194 9,425 153,726 134,770 FERC 571 -Maintenance of Overhead Lines Maint of OH Lines Bradley Lake Operating Labor &Benefits 31,120 5,187 :::.5,187 82,402 2,907 Travel 10,000 1,667 :--:1,667 49,000 5,265 Contractual $0,000 8,333 ::.:8,333 86,000 56,046 Supplies &Materials 5,000 833 -:-:833 19,000 - Sradley Lake Operating Total 96,120 16,020 ::::16,020 236,402 64,218 BRADLEY MARKER BALL REPLACEMENT Contractual ::::::::83 BRADLEY MARKER BALL REPLACEMENT Total --------83 FERC 571 -Maintenance of Overhead Lines Total 96,120 16,020 --..16,020 236,402 64,301 Page 5 of 9 ALASKA ENERGY AUTHORITY BRADLEY LAKE OPERATIONS &MAINTENANCE SCHEDULE B BUDGET TO ACTUAL EXPENSES. FOR THE PERIOD 07/01/2018 THROUGH 08/31/2018 FY 19 FY 18 BUDGET % FY19 Approved 07/01/2018 -(Over}Under FY18 Approved Budget 08/31/2018 HEA Actual CEA Actual AEA Actual Total Actual Budget to Date Budget FY18 Actual FERC 920 &930 -Administrative Expense AEA Bradley Fixed Admin Fees Bradley Lake Operating Administrative Costs 200,000 33,333 -+33,333 33,333 (0)200,000 200,000 Bradley Lake Operating Total 200,000 33,333 --33,333 33,333 {0}200,000 200,000 Operating Committee Exp-Audit Bradley Lake Operating Administrative Costs 16,500 2,750 -::.2,750 16,800 16,800 Bradley Lake Operating Total 16,500 2,750 -:--2,750 16,800 16,800 Operating Committee Exp-Legat Bradley Lake Operating Administrative Costs 25,000 4,167 >-28,599 28,599 {24,432)25,000 115,610 Bradley Lake Operating Total 25,000 4,167 :-28,599 28,599 (24,432)25,000 115,610 Operat Committee Exp-Arbitrage Bradley Lake Operating Administrative Costs 2,935 489 ::.*489 3,380 2,538 Bradley Lake Operating Total 2,935 489 :.-*489 3,380 2,535 Trust &Account Fees Bradley Lake Operating Administrative Costs 11,918 1,986 ::5,959 5,959 (3,973)11,918 11,918 Bradley Lake Operating Totat 11,918 1,986 .:5,959 5,959 (3,973)11,918 11,918 Misc Admin Bradley Lake Operating Administrative Costs 10,350 1,725 -.::1,725 10,000 10,350 Bradley Lake Operating Total 10,350 1,725 -.--1,725 10,000 10,350 FERC 920 &930 -Administrative Expense Total 266,703 44,450 --67,892 67,892 (23,442)267,098 357,213 FERC 924 &925 -insurance Premiums Insurance Premiums Bradley Lake Operating Administrative Costs 656,834 109,472 2,879 -96,848 99,727 9,745 581,000 624,705 Bradley Lake Operating Total 656,834 109,472 2,879 :96,848 99,727 9,745 581,000 624,705 FERC 924 &925 -Insurance Premiums Tota!656,834 109,472 2,879 *96,848 99,727 9,745 581,000 624,705 FERC 928 -¥Ce issi FERC Admin Fees Bradley Lake Operating Administrative Costs 185,000 30,833 ::::30,833 185,000 176,523 Bradley Lake Operating Total 185,000 30,833 ::--30,833 185,000 176,523 FERC Related Prof Services BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Administrative Costs 125,000 20,833 >=8,159 8,159 12,674 125,000 100,999 BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES To!125,000 20,833 >-8,159 8,159 12,674 125,000 100,999 FERC 928 -Regul ¥Ce Total 316,000 51,666 *.8,159 8,159 43,507 310,000 277,522 Total Bradley Lake Budget 4,531,908 755,317 375,669 14,886 182,019 572,574 182,743 4,593,387 3,985,722 Page 6 of 9 BRADLEY LAKE R&C FUND DISBURSEMENTS AND REPAYMENTS SCHEDULE D Expenses for the Period 7/1/18 through 8/31/18 Actual Actual Actual Actual Budget @ 6/30/18 TO REPAY @8/31/18 TO REPAY FY19 Description Expense 6/30/2018 Expense @6/30/19 R&C FUND PROJECTS Governor 0.00 4,052,070.14 0.00 4,052,070.14 0.00 Replace RFLS 0.00 251,092.69 0.00 251,092.69 0.00 Replace Runners 0.00 1,946,732.79 0.00 1,946,732.79 0.00 Replace cable from dam to power house 0.00 2,321,922.94 0.00 2,321 ,922.94 0.00 Replace power system stabilizer 0.00 619,205.10 0.00 619,205.10 0.00 Replace two RTUs 0.00 86,905.27 0.00 86,905.27 0.00 Culvert Repairs 0.00 675,966.79 0.00 675,966.79 0.00 Tower Repair for Jack Frost Heaves 0.00 887,596.62 0.00 887,596.62 0.00 Replace Plant and SCADA Controls 0.00 1,344,683.05 0.00 1,344,683.05 0.00 Vibration Monitoring System 0.00 490.00 0.00 490.00 0.00 Fire Alarm System Replacement 0.00 0.00 0.00 0.00 250,000.00 Battle Creek Diversion 0.00 1,170,000.00 0.00 1,170,000.00 0.00 Bradley Replace Electro-Mechanical Relays 0.00 1,277,197.06 0.00 1,277,197.06 0.00 Fishwater Screen Debris Removal 0.00 312,236.43 0.00 312,236.43 9.00 Turbine Nozzel Repair 0.00 1,428,861.07 0.00 1,428,861.07 0.00 SVC replacement Daves Creek |Soldotna 1,341,405.96 8,517,991.11 0.00 8,517,991.11 0.00 Equipment Storage Shed 0.00 0.00 1,530.06 1,530.06 500,000.00 Emerson Operating System Upgrade 0.00 0.00 124,533.00 124,533.00 700,000.00 1,341,405.96 |24,892,951.06 126,063.06 |_25,019,014.12 1,450,000.00 Current Year R&C Repayment (2,793,306.00)(457,678.00) Adjust to balance to $5million 0.00 0.00 Interest in Fund Applied to Repayment (226,781.00)(52,343.48) Net Transfer from Revenue Fund (3,020,087.00)(510,021.48) Cumulative Prior Years R&C Repayments (17,886,155.09)(20,465,255.55) Due Back to Utilities 440,986.54 (1,867 ,438.55) Adjust Due to R&C Actual 0.00 0.00 (17,445,168.55)(22,332,694.10) NET DUE TO R&C FUND 4,427,695.51 2,176,298.55 | R&C FUND CASH FLOW PROJECTION Beginning Investment Balance 3,219,624.39 1,013,291.03 Disbursements-current year -Accrual (1,341,405.96)0.00 Disbursements-prior year accrued (2,737,351.03)0.00 Utilities'R&C Refund (1,147,663.37)0.00 Net other cash inflow(outflow)0.00 0.00 Current year interest earnings 226,781.00 $2,343.48 Participants Contributions to R&C Fund 2,793,306.00 457 678.00 Ending Investment Balance 1,013,291.03 1,523,312.51 Accrued Due to Utilities (440,986.54)1,426,452.01 Accrued R&C vendor Payable at Year End 0.00 (126.063.06) PROJECTED NET DUE +ENDING INVESTMENT BALANCE 5,000,000.00 5,000,000.00 REPAYMENT AMOUNT $3,330,802.80 x 25%yr 1 |32%yr 2 |25%yr 3 [18%yr4 3rd yr 832,700.70 4th §99,544.50 599,544.50 $5,644,193.08 x 25%all 4 years 2nd yr 1,411,048.27 3rd 1,411,048.27 1,411,048.27 $1,341,405.96 x 25%all 4 years ist yr 335,351.49 2nd 335,351.49 372,974.87 $126,063.06 x 25%all 4 years _isd:tstt 31,515.77 362,500.00 2,579,100.46 2,377,460.03 2,746,067.64 Page 7 of 9 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Battle Creek Capital Purchases Schedule E Expenses for the period 07/01/18 through 08/31/18 FY18 FY19 Battle Creek Capital Purchases Amended FY18 Appoved FY19 Budget Actuals Budget Actuals Battle Creek Diversion 400,000 358,647 Total Construction 400,000 358,647 - Used 2007 Chevrolet Silverado 8,800 8,800 Used 2006 Chevrolet Silverado 7,700 7,700 Total capital revenue fund purchases 16,500 16,500 - Page 8 of 9 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Battle Creek Administrative Costs Schedule F Expenses for the period 07/01/18 through 08/31/18 FY 19 FY18 FY19 BUDGET %FY18 Approved 07/01/2018 -(Over)Under Approved Budget 8/31/18 HEA Actual AEA Actual Total Actual {Budget to Date Budget Total Actual Summary by expense type Administrative Costs 453,988 75,665 80,044 28,971 109,015 (33,350)43,800 137,456 453,988 75,665 80,044 28,971 109,015 (33,350)43,800 137,456 FERC 920 &930 -Administrative Expense Battle Creek Admin Fees Administrative Costs 176,193 29,366 3,748 28,000 31,748 (2,383)22,000 25,525 Battle Creek Admin Fees Total 176,193 29,366 3,748 28,000 31,748 (2,383)22,000 25,525 Operating Committee Exp-Owners Representative Administrative Costs 254,245 42,374 76,296 -76,296 (33,922)-89,196 Operating Committee Exp-Owners Representative Total 254,245 42,374 76,296 -76,296 (33,922)-89,196 Operating Committee Exp-Legal Administrative Costs 15,000 2,500 :950 950 1,550 15,000 17,082 Operating Committee Exp-Legal Total 15,000 2,500 -950 950 1,550 15,000 17,082 Operat Committee Exp-Arbitrage Administrative Costs 2,000 333 :--333 2,000 2,180 Operat Committee Exp-Arbitrage Total 2,000 333 ---333 2,000 2,180 Trust &Account Fees Administrative Costs 6,550 1,092 ---1,092 4,300 1,197 Trust &Account Fees Total 6,550 1,092 -:-1,092 4,300 1,197 Operat Committee Exp-Other Administrative Costs ::21 21 (21)500 2,276 Operat Committee Exp-Other Total ::.21 21 (21)500 2,276 FERC 920 &930 -Administrative Expense Total 453,988 75,665 80,044 28,971 109,015 (33,350)43,800 137,456 Total 453,988 75,665 80,044 28,971 109,015 (33,350)43,800 137,456 Page 9 of 9 Bradley O&D Report to the BPMC December 7,2018 1.Scheduled Outages a.Chugach has scheduled a 60 day 115 kV tie outage between Hope and Summit beginning the first of February 2019 and extending into April 2019. HEA is scheduling a 2019 outage of the 115kV line between Sterling and Quartz.The tentative outage schedule includes 2 separate outages,the first is 10 days prior to Chugach's line outage and the second is 10 days after.Outages are staggered to address reliability concerns for Seward and Cooper Landing. 2.Unit 2 Generator repair motion a.Move to recommend approval by the BPMC HEA's proposal to sole source the contracts for the wedge manufacturing,Mechanical and generator repair labor and parts necessary to repair Unit 2 generator.O&D recommendation for approval by the BPMC is subject to any revision of $950k cost estimate. Bradley O&D unanimously approved the motion with the exception of Seward who was not present at the meeting.The intent is to have all necessary contracts in place and parts on hand to begin work February 1,2019. Pending Spill i.October 17 to October 29 ii.Participants did a good job coordinating to insure plant loading was maximized during the pending spill period. 1.Energy used during pending spill -31,761.3 Mwh's 2.Hourly average during 13 day spill period -101 Mwh's iii.HEA and MEA consistently scheduled additional capacity that was not used by others. 3.November 30 Earthquake a.No known damage to Bradley Lake as a result of the earthquake. 4.Bradley Lake Trainee motion i.Move the O&D recommends to the BPMC that the trainee remains in the budget with no overhead and the Operator move forward with hiring a trainee at the earliest possible time.It is expected that the trainee will become a fully trained plant operator at the conclusion of the training. ii.Bradley O&D unanimously approve the motion with the exception of Seward who was not present at the meeting. Bradly O&D Unit 2 Generator repair motion Move to recommend approval by the BPMC HEA's proposal to sole source the contracts for the wedge manufacturing,Mechanical and generator repair labor and parts necessary to repair Unit 2 generator. O&D recommendation for approval by the BPMC is subject to any revision of $950k cost estimate. Moved Burke Wick Chugach Second Bryan Carey AEA HEA Yes GVEA Yes MEA Yes Chugach Yes AEA Yes Seward Absent ML&P Yes Unit Statistics: Bradley Lake Operator Report BPMC December 7,2018 as of 12/05/2018 Generation Unit 1 (MWhrs)Unit 2 (MWhrs)Total (MWhrs) October 2018 27,365 27,101 94,466 November 2018 17,400 12,406 19,806 Hydraulics Avg.Lake Level (ft.)Usage (ac ft.)Fish water (CFS) ft.) October 2018 1172 55,983 193.9 AVG November 2018 1173.72 30,246 96.18 Lake Level -1174.5 as of December 5,2018 (Imminent spill is at 1175) Capital Projects: 1)Battle Creek work is done -Workers have winterized the ORION camp and have been staying in the Crew's Quarters with the last of their people.Everyone should be gone from the site by the end of this week. 2)Lifting Slings -The specialized slings have been successfully tested and re- certified. 3)Barge Shipment -ORION brought in our lifting slings in on their demobilization Barge on December 5th. 4)Fish Water Control Automation The fish water flow meter is now operational and we are gathering data in order to improve the release table accuracy.With the rain we have been having we are not releasing any water from the dam and are getting no data for the system at this time. 5)Unit 2 Generator concerns -This will be discussed extensively under another topic. 6)October Imminent spill -we were in imminent spill for nearly 2 weeks during October.Hence the large capacity factors and output in MWh. Operations,Maintenance,and Inspections: Bradley Lake Operator Report Page 1 1)Operations-During the month of October and November operations were fairly normal but we did have people taking holiday and leave which causes a problem for Bradley in terms of the new proposed minimum person rule. 2)October Unit availability -Unit 1 100%,Unit 2 99.9%.Capacity factor for October for Unit 1 was 58.38%and for Unit 2 57.82%. 3)November Unit availability -Unit 1 100%,Unit 2 100%.Capacity factor for November for Unit 1 was 38.3%and for Unit 2 27.35%. 4)Equipment Storage Building -the contractor is Basically done with the building,snow stakes to prevent roof avalanches are needed to be installed as the ones shipped would not fit the roof panel profile. 5)Flight Coordination -Flights have slowed as ORION is all but gone from the site. 6)Cooling water pump replace -The existing pump was removed from service and replaced with the spare due to lack of performance.We found extensive corrosion on the intake and impeller.The pump will be rebuilt and placed in inventory for a spare. 7)November 30 7.0 Earthquake -After substantial inspection we have found no damage due to the earthquake though it was strongly felt at Bradley. Bradley Lake Operator Report Page 2 Replacing the cooling water pump Bradley Lake Operator Report Page 3 "WettigchA Pout Psaoreo&: New Equipment Storage Building at Bradley Page 4BradleyLakeOperatorReport Bradley Lake Project Management Committee -Alaska Online Public Notices Page 1 of 1 STATUS:Active Bradley Lake Project Management Committee ALASKA ENERGY AUTHORITY (AEA) Bradley Lake Project Management Committee Notice is hereby given that the Bradley Lake Project Management Committee will hold a regular meeting on Friday,December 7,2018 at 1:00 p.m.For additional information contact Teri Webster at 907-771-3074. This meeting will be conducted by electronic media pursuant to AS 44.62.310 at the following location: Alaska Energy Authority Board Conference Room,813 West Northern Lights Boulevard,Anchorage,Alaska; A teleconference line has been set up for those unable to attend in person.Dial 1-888-585-9008,Enter Code 467-050-1 26#. The public is invited to attend.The State of Alaska (AEA)complies with Title Il of the Americans with Disabilities Act of 1990.Disabled persons requiring special modifications to participate should contact AEA staff at 907- 771-3074 to make arrangements. Attachments,History,Details Attachments Details BPMC AgendaDec7_201 8.pdf Commerce,Community andDepartment:Economic Development Revision History Category:Public Notices Created 12/7/2018 11:02:09 AM by Sub-Category: tawebster Location(s):Statewide Modified 12/7/2018 11:02:33 AM by [Details]Project/Regulation #: tawebster Modified 12/7/2018 11:03:08 AM by [Details]Publish Date:12/7/2018 tawebster Archive Date:12/9/2018 Events/Deadlines: https://aws.state.ak.us/OnlinePublicNotices/Notices/View.aspx?id=1 92336 12/7/2018 10. 11. BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE (BPMC) REGULAR MEETING Friday,December 7,2018 1:00 P.M. Ay Alaska Energy Authority Board room 813 W Northern Lights Blvd,Anchorage"1-888-585-9008 -Conference room code 467-050-126 AGENDA CALL TO ORDER ROLL CALL FOR COMMITTEE MEMBERS PUBLIC ROLL CALL PUBLIC COMMENTS AGENDA APPROVAL PRIOR MINUTES --Oct 25,2018 NEW BUSINESS A.FY18 BPMC Audited Financial Statement and Refunds Aldrich CPAs &Advisors Motion to Approve B.Bradley O&M Agreement update Kirk Gibson C.Bradley Federal Lands Transfer update AEA D.Battle Creek Project update AEA E.Unit 2 Generator repairs HEA COMMITTEE ASSIGNMENTS A.Budget Subcommittee -Budget to Actual B.Operators Report HEA C.O&D Report Jeff Warner MEMBERS COMMENTS Fan -O artNEXTMEETINGDATE-TBD March ADJOURNMENT BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE First,Second First Secor Firs Second First Second BPMC 12/7/18 Any 77 WZ yor AiG ASS (wy Ag)J no 7 Roll Call Agenda Minutes Appr of Financial G On gst reptRollcallfromtoptobottomendingwithChairatement Yes No Yes No Yes No Yes No Yes No 4 Matanuska Electric Association Vi N ia F2 via \|/ Chugach Electric Association WA -4 lan \|(N YY City of Seward 4 \N \\\\\}° Municipal Light &Power A XY \J :| Homer Electric Association 4, Golden Valley Electric Association / Alaska Energy Authority WA Bc ee ene nea samara ;vw _d First Second First Second First Second First Second First Second Roll call from top to bottom ending with Chair Yes No Yes No Yes No Yes No Yes No Matanuska Electric Association Chugach Electric Association City of Seward Municipal!Light &Power Homer Electric Association Golden Valley Electric Association Alaska Energy Authority bene.-vee cone cannes feet te suedNextMeeting:TBA tin Con -Finance Tepan Proyects low Privedy Bradley Lake Project Management Committee Friday,December 7,2018 Regular Meeting **PLEASE WRITE LEGIBLY** NAME ORGANIZATION wwe YUASA ufo TURBLSD AL ADDKcth/G Chord Bec TO DabN Polir Larry Vorgensen HEA Bob Day ii Br wv Laan (Abe,PzL2opt.bed0rc cht Tine GAPE AMEN SB Sa \danhe Alc pou. cle lle,(Sarnen WI rig Eerie Sptht CULLC Miter OHV ZOW ALLTEL Ahitd 0 Alive se HCE?BYAGNAY Yost?Aeacaluy\Gocare AEN OVW |Zoo Wy bonuses Electing ATTENDANCE -BPMC MEETING,Dec 7 COMMITTEE MEMBERS |ALTERNATE Cory Borgeson,Chair -|GVEA LeorQurachon |Yee Thibert /CEA,Burke Wick/.Brad Janorschke HEA _//Bob Day J Bryan Carey,Secretary/Treasurer AEA Janet Reiser. JY Tony Izzo,Vice Chair MEA ATony Zellers :MarkJonnston ; MLP /|Jeff Warner .John Foutz |SEW = Public Members COUNSEL "CEA -oS Brian Hickey (CEA)/oo Gibson,McDowell Rackner &Gibson Mark Johnson gt#A)A RCTEA.|Stefan Saldanha,Dept of Law -_A SherriHigher (CEA) Paul Risse (CEA)AEA |_-Brenden Applayate Matt Clarkson (CEA) -Katie Conway /'Josh Resnick (CEA)_beryAdler- -: HEA RichBaldwin(HEA)||Jocelyn Gardner Alan Owens (HEA)Brandi White7aEmilyHutchinson(HEA)|SarmerrNople Te tarry Jorgensen (HEA)/Teri Webster|Steve Canon (HEA)For-Exicksor- MLP ||AnnaHenderson(MLP)|David Lockerd 7 _/7 Molly Morrison (MLP)/.Kirk Warren "Ga |Ron Woolf (GVEA)dessica Housten ||Bete Sarauer (GVEA)7 -To MEA Jim Brooks (MEA)::/a /|David Pease (MEA) ||Matt Reisterer (MEA).-:- Ed Jenkins (MEA) Public ./|Bernie Smith OF||Crystal Enkvist (APA) / ||MelHutchinson(APA)i OO 7 TWPatch -- "|Eric Myers (American Transmission Co)PoRonRebenitsch(Energy Engineering)a _.