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HomeMy WebLinkAboutAEA Board Meeting Minutes March 6 2024Alaska Energy Authority Board MEETING MINUTES Wednesday, March 6, 2024 Anchorage, Alaska 1. CALL TO ORDER ,, ALASKA ENERGY AUTHORITY Chair Dana Pruhs called the meeting of the Alaska Energy Authority Board to order on March 6, 2024, at 8:40 a.m. 2. ROLL CALL BOARD MEMBERS Members present: Chair Dana Pruhs (Public Member); Vice Chair Bill Kendig (Public Member); Julie Sande (Commissioner DCCED); Q. Smyth on behalf of Adam Crum (Commissioner DOR); Bill Vivlamore (Public Member); and Randy Eledge (Public Member) Absent: Albert Fogle (Public Member) A quorum was established. 3. AGENDA APPROVAL MOTION: Commissioner Sande moved to approve the agenda as presented. Motion was seconded by Mr. Randy Eledge. The motion to approve the agenda passed without objection. 4: PRIOR MINUTES - January 24, 2024 MOTION: Commissioner Sande moved to approve the minutes of the January 24, 2024 board meeting. Motion was seconded by Mr. Randy Eledge. The motion to approve the meeting minutes passed without objection. S. PUBLIC COMMENTS (2 minutes per person) There were no members of the public online or in -person who made any comments. 6. NEW BUSINESS - None 7. OLD BUSINESS A. Resolution 2024-01 FY25 Operating and Capital Budget Submission Ratification IM-1.1 001211•' •' 813 W Northern Lights Blvd, Anchorage, AK 99503 • Phone: (907) 771-3000 • Fax: (907) 771-3044 • Email: info@akenergyauthority.org Mr. Curtis Thayer stated that normally the Board approves the Governor's operating and capital budget as presented in January. But we delayed this year in hopes that there would be an outcome of the $206.5 million matching funds and what that would look like. This item is still pending. So, we're moving forward with our ratification of this resolution in support of the Governor's operating and capital budget for Alaska Energy Authority (AEA) subject to approval by the state legislature. AEA's operating budget for FY25 would be $60,541,800, which is for personnel and the Power Cost Equalization (PCE) program. This year, we are asking for an additional person in accounting for Bradley Lake, so there will be two. AEA's capital budget is $14,000,515 from the state and $69,660,093 from the federal government for a total capital budget of $84,176,000. This figure does not include the $205.5 million in federal funds and whatever match the governor and legislature makes for the state. As an additional note, AEA is not the only agency looking for matching funds from the state for federal grants. So, our ask could be part of a larger package. AEA has $166 million in bonds, of which $90 million has already been set aside to upgrade the SSQ line that is underway. As a reminder, the board received approval from Department of Law, Bradley Lake Project Management Committee (BPMC), and the bondholders to dedicate $20 million of the $166 million for this grant match. The advantage of this path is that these funds are immediately available upon signing of the grant agreement. So we can begin project work in May or June. Otherwise, we would have to wait until July 1, 2024, for the funds to become available from the general fund and would not be able to start project work until July or August. Board members asked how the funding with federal dollars will work. Curtis responded that as the state provides matching funds, the Department of Energy (DOE) will release funds. So, we have this initial $20 million, they will release $20 million to us. And so it will go until we reach $206.5 million. If for some reason, the state funds the entire $206.5 million in a lump sum, DOE will release $206.5 million. AEA staff have a standing weekly call with DOE to work through the grant agreement and any questions that arise about the project or the process, including funding. There is more information about the grant in the board's packet, including terms and conditions from AEA. Mr. Thayer wants to make sure the board has seen every document before he signs the grant agreement. Legal counsel is also reviewing these documents. Our original scope of work had the line going from Kenai to Beluga, and then on to Healy. DOE only wants to fund to Beluga. So we had to adjust the scope of work. In addition we had to submit a cyber security plan to DOE. AEA has met every deadline through this grant process and schedule. As we progress, either at the board's April meeting or through a special meeting, Mr. Thayer stated he will ask for a resolution from the board granting him authorization to sign the grant agreement on behalf of AEA. Commissioner Sande stated that she has witnessed some of what Curtis and his team have done in achieving this grant for the state and it makes her very proud of them and appreciative of their efforts. She added that the delay in the budget process is not a reflection on the team, but rather on the timing of the award in the midst of our state budget process. In addition, there is Alaska Energy Authority Page 2 of 12 the change to the scope of work and the impact it has to the schedule. She asked if the portion of the project from Beluga to Healy will be included in round two application of the grant program. Mr. Thayer responded that yes, it will. Round One funds the line from Kenai to Beluga and battery storage energy systems in Anchorage and in Fairbanks. Round Two grant application will include the line from Beluga to Healy. At Healy, there will be two transmission lines to give us redundancy. We provided a concept paper to DOE on this project and were asked to submit a grant application. That application is due April 17. So we won't know if we have the grant until July or August. Again, it would be a 50/50 match of funds. Board members discussed the potential cost of the second project. With approximately 240 miles of line, it will be a larger ask than the current $206.5 million. However, this project would provide transmission lines over land as opposed to undersea cable. Mr. Thayer has been in discussion with the utilities concerning project funding and sources other than state match. Board members discussed if the projects are dependent on each other. Mr. Thayer stated that these two projects are independent of each other. So, when phase one is complete, that line can be energized. There was discussion how the lines from Homer to Nikiski may need to be upgraded, depending on how much more power is generated out of the area due to these projects. Board members further discussed with Mr. Thayer the breakdown of the budget and how staff positions are paid for by various programs. Some positions are funded on the capital side while others come out of the operating budget. These breakdowns are in the board packet. Chair Pruhs asked for a breakdown of staff positions and whether they are paid for on the operating side or the capital side to be included in the board packet. It will help board members better understand the funding stream. Mr. Thayer wrapped up his presentation by going over other proposed project work and budget items with board members. Which items had state match for funding and which budget items did not need to wait of state matching funds to proceed. Chair Pruhs asked that a table or chart be included in future documents showing how many dollars are going through the books on an annual basis and what blocks they are coming from. This would help tell the story and show what an impact AEA has to both communities and to the state. In addition, by showing this graph, it may show that AEA is running a lot of projects. So, when you ask for that extra engineer or accountant to help out, it's easy to justify hiring additional staff. Also helpful would be a chart comparing where AEA was five years ago, where we are today and where we will be five years from now. That's a quick way to get the governor's office, the legislature and the public up to speed on what AEA is doing now and in the future. There being no further questions or discussion, Chair Pruhs asked for a motion to approve Resolution 2024-01. MOTION: Commissioner Sande moved that the Alaska Energy Authority (AEA) Board approve Resolution 2024-01 ratifying the governor's submission of AEA's Fiscal Year 2025 Alaska Energy Authority Page 3 of 12 (FY25) operating and capital budget subject to approval and appropriation by the Legislature. Bill Kendig seconded the motion. A roll call vote was taken, and the motion passed unanimously, with board member Albert Fogle absent. 8. DIRECTOR'S COMMENTS A. Annual Report Mr. Thayer stated that the annual report was done completely in-house and met the March ' deadline. Copies of AEA's 2023 Annual Report have been mailed to the state legislature and emailed to board members. The report is posted on our website as well. A few highlights of the report shows everything that we have going on from our current programs, including the Grid Resilience and Innovation Partnership (GRIP), a photo of the subsea cable, and also a photo of the AEA team, which we haven't done in a couple of years. When we're talking about all of the administrative and project work that AEA does, it's being done by this group of people. B. Power Cost Equalization (PCE): PCE Annual Report Mr. Thayer stated that previously, the PCE Annual Report was published in June of each year. However, for the past four years, it's been prepared and submitted to the state legislature by March 1 along with AEA's annual report, as it makes more sense for state legislators to have this information in front of them during the legislative session when they are discussing the PCE program. The nice thing about this report is that it provides statistical data by utility and by community. You can pick any community on PCE to look at data for energy consumed, sold, kilowatts, line efficiency, basically everything across the board. This report is also posted to AEA's web site. PCE Endowment Update Mr. Thayer stated that last year on July 1, 2023, the state legislature moved the management of the PCE endowment from the Department of Revenue (DOR) to the Permanent Fund Corporation (PFC). Because PFC manages the endowment, AEA has no say in the matter. There is a graph in the board's packet that shows where the endowment stands. In July, 2023, $950 million was transferred from DOR to PFC. As of January, 2024, our last report, the fund stands at $944 million, which is a loss of approximately $6 million. PFC does provide us with a monthly report of how the fund is performing. We track that information because the first $45 million is to fund the PCE program. The next $30 million covers power cost, equal Alaska Energy Authority Page 4 of 12 community revenue assistance in rural Alaska. And then there's community revenue assistant to fund renewable energy, powerhouses or bulk fuel. However, the ability to fund bulk fuel, powerhouses, and renewable energy has only happened a couple of times over the past years. Senator Hoffman envisioned fully funding the PCE at $45 million plus the community revenue assistance. To accomplish that, you need about $75 million in earnings. It's also important to note that two years ago, the legislature changed the program. Originally, PCE paid up to 500 kW per household in rural Alaska. They increased that to 750 kW per household. So, in essence, the legislature increased the program size by 50%. What was previously a $30 million program is now a $45 million program, and no additional funds were added to the endowment to make up for that difference. Basically, with that change in formula, there was an additional $15 million in funds distributed in the last two years out of PCE. Mr. Thayer offered to invite Permanent Fund Corporation staff to a future board meeting for a presentation on the endowment. Board members discussed with Mr. Thayer how the funds are disbursed by AEA and then reimbursed by endowment funds through draws. This is done on a monthly basis. There is also a program for community buildings. Chair Pruhs stated that we're hearing about a workforce shortage post-COVID. Are communities able to provide information and documents in a timely manner to the PCE program. Mr. Thayer responded that communities are current with their documentation. While there has been challenges in some communities with staff changeover or shortages, one tool that has helped tremendously with communities staying in compliance is our online portal. If communities don't submit all of their information, or it's incorrect, AEA staff can assist them to complete it. We are fully staffed and can assist communities both with their documentation and with training on the program. C. Dixon Diversion Update Mr. Bryan Carey provided a brief update on both the Dixon Diversion project and the SSQ line project. In December we revised the scope of work by removing the road going up to Dixon Glacier, which dropped project costs by about $75 million. Based on discharge data from last year, we increase the size of the tunnel from 12 feet to 14 feet. With the changes to the scope of work and the scheduling, the project costs went from $415 million to $342 million. This includes the 25% contingency cost, unlisted items and allowing for escalation during construction. Chair Pruhs asked about allowing for inflation, as there's no way to predict that. Mr. Carey responded that since this is a eight to ten year project, as we get closer to project construction, we'll revise that number. He continued that this year we're performing environmental studies and moving two drill rigs up there to drill holes to get a better understanding of the base rock for tunneling. The cost for tunneling will be a substantial portion of the project. The funds for this summer's work is from a $5 million state grant. Alaska Energy Authority Page 5 of 12 Our target schedule is to have construction begin in 2028 and be completed in 2030. The amount of displacement of energy is approximately 190,000 megawatt hours. It would be close to 50% of what Bradley Lake Project, the third largest renewable energy project in the state, is producing. The displacement of natural gas is approximately 1.5 billion cubic feet of gas. Based on current estimates for natural gas in the Cook Inlet, that would be about 7.5% of the unmet natural gas needs in 2030. Chair Pruhs asked if there are plans to install a third generator at Lake Bradley. Mr. Carey responded not at this time. First we need to upgrade the transmission lines before we put in a third generator. We're constrained by the transmission. We're increasing the water, so we have a bigger gas tank to go through the existing generators. Once the transmission upgrades occur, we could potentially put in a third generator for better peaking and economic power. But right now, we don't need a bigger gas tank because we don't have the third generator. Board members discussed if it's more important to have the Dixon Diversion first before the power transmission line upgrade. Mr. Carey responded that it doesn't matter. It's more whichever project can move forward the quickest. We have a bit of a head start with the Dixon Diversion project because we've started the engineering and environmental work. The transmission upgrades project has more design work to do and a lot of environmental studies to perform. Board members discussed the need to also upgrade the lines between Bradely Lake and Nikiski. While it is a priority project, it's not considered a top priority under the current funding structure. Homer does currently have two lines. And we also need to upgrade the SSQ line because that's an AEA owned line that had fire damage on it. So, it's the weakest link right now with line loss on it. Chugach Electric is upgrading form Quartz Creek into Anchorage. Since they're already doing that, this is a critical section. Chair Pruhs commented that once we got the Dixon Diversion project going, we have great storage capacity, we maybe add another generator at Bradley Lake, the constraint is now going to change to downstream. What do we have to do to get this to match up with the $400 million project for ratepayers to have a benefit. Where would the funding come from to match this up. Mr. Thayer responded that most like a revenue bond by power sales agreement with utilities. There may be an initial cost, but we also haven't factored in how the GRIP funding plays a role in this by funding projects. This will potentially lower the cost to rate payers as well. There was further discussion about the economics of project funding. Chair Pruhs requested that board members who are interested go in the field to take a look at Bradley Lake Project and the Dixon Diversion Project. It doesn't need to be a special trip, just accompany workers scheduled to go down to the project site. Mr. Thayer responded that can be arranged. D. SSQ Line Update Alaska Energy Authority Page 6 of 12 Brian Carey stated that for the SSQ Line, the Quartz to Sterling portion is owned by AEA, while Homer Electric Association (HEA) owns the Sterling to Soldotna portion. Both sections require work. We broke the required work into four projects. Projects one and four are in non -national refuge areas and we can move quickly through them, permitting wise. We are procuring long lead electrical items, it will go out to bid this summer, so that next winter the work will occur on that section of line. For projects two and three, once we finish the environmental assessment (EA) we can then move forward with construction. Board members discussed how this was the line that failed between Whittier and Girdwood during a recent winter storm. Power stopped moving north from Bradley Lake. This line was also burned in the 2019 fire. It has been in place since 1969. It's going to be upgraded to 230 specifications. Since poles need to be replaced, might as well replace them with taller poles, space them a little bit wider apart with larger conductors and fiber optic. It's going to be more resilient and fire hardened. It will be able to hold a higher load and have less resistance or less line losses. Mr. Carey stated that for the schedule, project work will be broken into many years because the utilities don't want Bradley Lake unavailable for more than 60 days a year for fear of spilling water and having Bradley Lake online in case any issues occur with power plants up here. They are considering changing it to 100 days a year, which is a little bit riskier, but you would cut down on your construction costs. And by changing the schedule you can entice larger bidders to go for it. Commissioner Sande commented that this may be more of a question for Director Thayer. But as the state moves forward with broadband initiatives and projects of more than $1 billion, has AEA been in conversations with the broadband teams to coordinate efforts to avoid duplication of work. Especially if you're talking fiber optics on this project. Mr. Thayer responded that so far we have not discussed our project work with the broadband team because we are putting in fiber optics for our own purposes and control. However, we will have additional capacity on there and we can work with other entities to use that extra capacity. That's a good suggestion and he will follow up on it. Commissioner Sande appreciates his efforts to look for opportunities to create efficiencies and reduce costs for Alaskans. Mr. Carey concluded his presentation by stated that between those two projects, there's close to $450,000,000 worth of work that we're doing that's not running. Chair Pruhs commented that timing is everything and with the Cook Inlet issue on gas looming over us, it would be very advantageous to figure out a way to accelerate some of these things which I think we take a lot of pressure off a lot of folks in south central Alaska. E. Electric Vehicle Update Ms. Audrey Alstrom stated that under the Department of Transportation's National Electric Vehicle Infrastructure (NEVI) fund Alaska will be receiving about just over $50 million through 2028. We're in year three. Spring of 2022, we issued a request for applications for potential site Alaska Energy Authority Page 7 of 12 hosts along Alaska's sole alternative fuel corridor, which is between Anchorage and Fairbanks. We received a number of applications, and we selected nine sites along the corridor to receive NEVI funds for a total investment of just over $8 million. Since then, we've been working with those site hosts on preparing for their project agreements. They have to do an environmental or NEPA review, which Alaska Department of Transportation and Public Facilities (ADOT&PF) has taken the lead on that. Once the environmental review is completed, hosts can sign their project agreements and begin construction this summer. Some are pretty optimistic that they will be completed by the end of the fall. As an additional note, states that receive federal funding are required to have charging stations every 50 miles along the corridor to deal with potential range anxiety. However, in our corridor, some places just don't have any infrastructure to support a charging station. So we were able to obtain a few exceptions from DOE. For example, in one area it is 73 miles instead of 50 miles between charging stations. We continue to hold our monthly electric vehicle (EV) working group meetings. We put out an EV newsletter to the team. We're beginning to plan for our next NEVI plan update, which is due August 1. And, as a reminder, AEA got involved with EVs because of the Volkswagon Mitigation Trust Fund. We had set aside $1 million of the $8 million fund to set up EV charging stations between Anchorage and Healy down to Homer and Seward. All nine sites are commissioned and operated by private hosts. So, we are starting to close out those projects and focus on NEVI funded projects. We received a grant of about $1.6 million called Alaska Rural Electric Vehicle Development to work on level two charging stations throughout the state and in rural hub communities. Currently we are working with our project partners on grant agreements and hope to have those signed by the end of March. Chair Pruhs asked how long does it take to charge and electric vehicle. Ms. Alstrom responded about 20-40 minutes. Board members discussed about EV drivers encountering lines or waiting to charge vehicles. Ms. Alstrom stated that there is an app that drivers can download to their phone that shows where charging stations are located and if they're online. AEA is partnering with the Alaska Department of Motor Vehicles (DMV) to gather general information on electric vehicles. Since Alaska has just over 2,000 EVs within the state, it's not likely there will be wait lines for charging stations. But who knows what it will be like in ten years. The Alaska Marine Highway system will come online with charging stations during Phase 2, which is for projects off the corridor. Phase 1, alternate fuel corridor, has to be fully built out. We're awaiting guidance from Federal Highway Administration to tell us what fully built out means to them. Then we could move on to Phase 2 projects. Mr. Eledge asked if program managers have data on what happens during the winter months. Is there a signature per vehicle that's provided at each charging station and is it being tracked from station to station. Ms. Alstrom responded that both the Volkswagon trust fund projects and NEVI funded projects require site hosts to send us operational data such as how many vehicles are charging, how long they're charging and when the sites are working. We review the Alaska Energy Authority Page 8 of 12 information and share it with the joint office for folks who are interested in this type of information on a national level. For tracking each vehicle, we will review the data as they use each station, but we won't share data on each vehicle that can be traced back to the owner. Board members discussed the capability of EVs to travel during cold weather in winter. Does the cold, subzero weather reduce their radius of travel. The data collection may tell us some of this. But there are also privately owned and funded sites that aren't required to share this data. It was suggested that providing an incentive for drivers to install a GPS device on their car to help track their movements throughout the year in different weather conditions may help with data collection and analysis. F. Infrastructure Investments and Jobs Act (IIJA) Updates IIJA Tracker Mr. Thayer referred board members to the IIJA tracker in their packet. The tracker is broken down by what has been awarded. AEA has been awarded approximately $74 million in federal funding and there has been some state matching funds. So if we look at grid resilience, for example, between the federal funds and a full match, that number would grow to $356 million in federal receipt authority and $217 million for state funds. However, that is assuming the $206.5 funding comes in one year. We have pending applications listed on the tracker, so they stay on our radar. This spreadsheet is updated regularly to keep it current and is shared with the state legislature, the utilities and board members. By updating the tracker, we may come across funding sources that we don't qualify for or that we're not applying for, so we share that information with others. For example, if there's a funding opportunity for utilities, we forward this on to all the utilities in the state for them to review, as they may want to pursue it. AEA Training for Residential Energy Contractor Training (TREC) Program Grant Application Mr. Thayer stated that this is an application for a $1.2 million grant. The application is about 100 pages long and the funding is formula driven. There is no state match requirement. This application is included in the board packet to keep you informed. GRIP 3 - Grant Agreement Update Mr. Thayer stated that the scope of work along with terms and conditions of the agreement are included in the packet for board members to review and to stay informed as we move through these steps. Legal counsel is also reviewing the agreement and has raised some questions, and we have some questions as well. We're working with Department of Energy to resolve these questions. Once the agreement has reached a semi-final state, we will ask the board to review and approve the agreement. Alaska Energy Authority Page 9 of 12 Clean Energy Innovator Fellowship 2024 - White Paper Mr. Thayer stated that AEA has submitted a white paper for a clean energy innovator fellowship. The Department of Energy (DOE) will identify people that are in their studies, whether they're in their graduate degree or doctorate program, and give them a stipend to work with state energy offices. We would provide a desk and a mentor, and the federal government, or DOE, would pay their stipend. This fellowship could be up to a year or 18 months. It's a way to get additional staff at no cost to us. However, it's an application process, and you're going to have to find somebody who wants to move to Alaska for 12 to 18 months to specifically work on our projects. We didn't want to miss an opportunity of being able to land a couple of fellows to come in and study what we're doing and to work with us. G. Legislative Update Mr. Thayer referred board members to their packet for the Legislative update of various energy related bill. Last week AEA had four bill analysis or fiscal notes due. The Governor's bill, SB 217, received its first hearing. Commissioner Sande asked Curtis to briefly explain for the record and the general public what a bill analysis or fiscal note analysis means so there an understanding of how much time an agency may spend on one analysis during the legislative session. Mr. Thayer explained that when a bill is introduced in the legislature for the first time and it affects a particular agency, say, AEA, for example, then we work with the governor's legislative office to do what we call a bill analysis, which walks through the bill and explains what it does. The analysis also includes any issues, concerns or support that we might have for that bill and if our recommended position is supportive, neutral, or against, or we would like to see the bill amended. It all depends on how in depth the analysis is. We had one where it might take a couple of hours. We had one that was introduced on a Friday and we actually worked on the analysis over the weekend. We probably spent no less than 40 man hours in that particular bill analysis. That actually was SB 257. It was a bill by Senate Resources, that not only restructures a little bit of the regulatory commission of Alaska, but it also sets up AEA as the ownership of transmission lines and how that would be done. In addition to any bill analysis, there's a fiscal note attached to it --what do we expect the cost of the agency to be? And costs could be a zero or indeterminate. For example, as part of SB 257, they would like us to do a whole integrated resource planning for the rail belt as a whole. We had done that in 2007. So we looked at the costs in 2007, looked at the consumer price index (CPI) and figured that alone is almost a $7 million project to do a report like that, and with a schedule of two years. So, the fiscal note is a definition of costs associated with a bill. The fiscal note is usually sent over by the administration to match up with the bill so the costs from an agency perspective, are known. To continue using SB 257 as an example, that bill also Alaska Energy Authority Page 10 of 12 required us to do a lot of regulatory changes, which has a cost, and if you need to add any additional personnel, whether short term or long term, also has a cost. And then we need to identify how we are going to pay for that bill. Commissioner Sande asked what is a typical turnaround time for a bill analysis. Mr. Tayer responded that sometimes it's as short as 24 hours. For SB 257, it was introduced on Friday and the bill analysis was due Monday at 09:00 a.m. So it was a weekend project to submit it. Commissioner Sande wanted to call this to the board's and the public's attention and to thank the team. She stated that she knows it's part of what we do and certainly what the teams and state agencies perhaps may be used to doing. But not having been a part of it before, -she had no idea of both the expectations and how at times there's not much notice to get this work done. So the entire team might have to completely pivot off of their daily work and be able to respond quickly and with a lot of thought. She appreciates that effort. Mr. Thayer stated that he and Tim will be in Juneau next week to meet with 17 freshmen legislators for lunch. The main topic will be energy. There are meetings with other legislators that they missed during their last trip. In addition, both House and Senate Resource Committees would like an overview of AEA. So, we're putting together a PowerPoint presentation, and we'll share it with the governor's office before we submit it. The board will have a copy as well. H. Community Outreach Mr. Thayer referred board members to their packets for information about their community outreach. The pace has been picking up and we're spreading that across the team as more people are available to do it. I. Articles of Interest Articles of interest are included in the board's packet for them to review. Mr. Thayer noted that during his State of the State speech, Governor Dunleavy recognized AEA for our recent work. And then both Senator Murkowski and Senator Sullivan acknowledged AEA for the hard work we've been doing, and the projects we've been working on as well. The recognition for the team was very good and appreciated. J. Next Regularly Scheduled AEA Board Meeting - Wednesday, April 17, 2024 Commissioner Sande mentioned that there may be a conflict for the May meeting with the Governor's Energy Summit. And she would encourage board members to attend the summit because the conversations and information is really valuable. Mr. Thayer responded that they did adjust the AEA board meeting in May, so it doesn't conflict with the summit. Alaska Energy Authority Page 11 of 12 9. BOARD COMMENTS Mr. Eledge stated that, in his opinion, Curtis and his staff have gained respect in the community by their demonstrated abilities and expertise. It's also reflective on the board as well as a positive note. He just wanted to share his sentiments about what a good job AEA is doing. Thank you. Mr. Kendig had no comments. Mr. Smyth had no comments. Commissioner Sande had no comments. Mr. Vivlamore had no comments. Chair Pruhs thanked Curtis, Jennifer and staff for putting today's meeting it together. It was a good meeting with a lot of good information. 10. ADJOURNMENT There being no further business of the Board, the AEA meeting adjourned at 10:26 a.m. Curtis W. Thayer, Secretary Alaska Energy Authority Page 12 of 12