June 15 Board Meeting Agenda

Here’s a quick synopsis of the board meeting agenda for Thursday, June 15.

The board meeting proper (where we actually vote on matters) is pretty straightforward. We have three action items.

SD-15: Enterprise Risk Management Monitoring Report
As a reminder, the board is asked to vote on whether OPPD is “sufficiently compliant” with each of its strategic directives on an annual basis. This month we're reviewing SD15. See relevant documents here.

Retirement Plan Appointment of Investment Manager
One of our most important roles as board members is that we hold fiduciary responsibility for the organization. Part of which means we vote on appointments of investment managers. In this case, we’re being asked to approve the appointment of Harrison Street Real Estate Capital and PGIM Real Estate as private real estate investment managers for OPPD’s retirement plan. See relevant documents here.

Fort Calhoun Station Dry Cask Storage Campaign
There are 944 fuel assemblies in “wet storage” at Fort Calhoun that will need to be transferred into dry storage. The Board is being asked to authorize management to negotiate and enter directly into a contract without bringing it back to the board for approval. Once the contract is signed, management will report back to the board as an information item. See relevant documents here.

There are several other items that will be discussed during our 10am committee meeting. Here’s the committee meeting package. Here are the highlights:

  • Our standard nuclear oversight committee and decommissioning reports
  • Our standard monthly financial update
  • We’ll hear a state legislative update, which will mostly consist of a summary of the interim studies planned
  • Summary of four contracts over $500k that were issued in May. They include:
    • $2.5 million to Motorola for 2017 portable radios & repeaters upgrade
    • $600k to the NDEQ for Nebraska Air Emission 2017 Fees for Nebraska City Station
    • $1.2 million to Westinghouse for decommissioning fuel characterization services
    • $1.5 million to McKinsey for an integrated energy platform contract. I learned a bit about this scope of work, and it looks like it might be really interesting.
  • Report on severance agreements executed due to decommissioning at Fort Calhoun
  • We’ll receive another update on how the July 24 board retreat is shaping up. As a reminder, we will be revisiting and potentially refining some of our policies. If you have any comments or questions about OPPD's strategic directives, please let me know. I would greatly appreciate input and feedback.

In closed session, we will receive updates on the following:

  • Union negotiations
  • Wind purchase power
  • Corporate officers compensation
  • Quarterly Enterprise Risk Management update