The board revisited the topic of increasing the REC retirement percentage from the current 55% to a proposed 60%, a change that would modestly impact customer bills by an estimated 20 to 30 cents. However, concerns about rising costs and unforeseen expenses were prominent, prompting some members to advocate for maintaining the current target. One viewpoint emphasized the societal benefits of moving away from fossil fuels, arguing for higher renewable energy targets despite a modest increase in bills. Conversely, another perspective questioned the necessity of exceeding current goals, given that the utility was already achieving its targets and further increases might place undue financial strain on customers.

A suggestion was made to delay the decision on REC retirement rates until sufficient data could be gathered, potentially waiting until the spring to reassess the 2026 targets. This approach would allow the board to make a more informed decision based on nearly three-quarters of 2023 data.

The board also addressed the impact of hydroelectric production on REC decisions, noting the importance of timing and market conditions. Seasonal variations in hydroelectric supply, particularly during high production months in spring, were considered critical factors in determining the financial implications of REC retirement strategies. A proposal to revisit the conversation in late spring aimed to provide the board with more accurate market data to inform their decisions.

In addition to renewable energy discussions, the meeting touched on several operational updates and strategic initiatives. The construction of the Station Six substation was reported as progressing, with transformers on-site and switchgear expected soon. The board aims to complete internal work within the substation by the year’s end, contingent on actions from National Grid regarding transmission and distribution connections.

The meeting also highlighted the ongoing implementation of the Advanced Metering Infrastructure (AMI) project, with a goal to establish the communication network by the end of the year. The plan includes replacing 40% of the meters within the same timeframe, with the remaining 60% expected to be completed the following year. This initiative aims to enhance customer engagement and operational efficiency, allowing for more detailed data collection and improved billing accuracy.

Discussions on IT accomplishments underscored the shift to a cloud-based telephone system and the importance of cybersecurity measures. The board emphasized the need for ongoing staff training to counter increasingly sophisticated phishing attempts, with a commitment to user awareness programs and advanced training opportunities.

The board also delved into governance and oversight, with a focus on updating policies and procedures. An intention to create a communications plan was articulated, aimed at facilitating engagement with town management and select boards. This plan would outline necessary communications protocols to ensure effective interaction between the boards and the utility.

Several goals were set for system reliability and safety, including targets for system average duration of outages (SAIDI) and customer average duration of interruptions (CAIDI). The board also discussed applying for the Reliable Public Power Provider (RP3) award from the American Public Power Association, a benchmark for operational health that assesses reliability, safety, workforce development, and system improvement.

In addressing customer service issues, the board expressed concerns about pole ownership in Wilmington and its impact on outage response times. The possibility of acquiring rights to set poles was discussed, with past negotiations with Verizon highlighted as challenging due to resistance from the company. The board expressed willingness to explore this issue further, recognizing the importance of making prudent business decisions based on the value of the poles.