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Home My WebLink About2011-02-23 RMLD Board of Commissioners Minutes Reading Municipal Light Board of Commissioners Regular Session 230 Ash Street R,I C�_I VE D Reading,MA 01867 T O'V,'IN -C L 1-R K February 23,2011IY; (?± r t1 SS. Start Time of Regular Session: 7:32 p.m. '' X32 End Time of Regular Session: 8:25 p.m. �,y ��M' R r'�f: �,- 4: Attendees: Commissioners: Mary Ellen O'Neill,Chairman Richard Hahn,Vice Chair Gina Snyder,Commissioner Robert Soli,Commissioner Philip B.Pacino,Secretary-Absent Staff: Vinnie Cameron,General Manager Beth Ellen Antonio,Human Resources Manager Jeanne Foti,Executive Assistant Jane Parenteau,Energy Services Manager Kevin Sullivan,E&O Manager Citizens'Advisory Board John Norton,Secretary Thomas 011ila,Member Chairman O'Neill called the meeting to order and stated that the meeting of the Reading Municipal Light Department (RMLD) Board of Commissioners.is being broadcast live at the RMLD's office at 230 Ash Street, Reading, MA. Live broadcasts are available only in Reading due to technology constraints. The meeting was video taped for distribution to the community television stations in North Reading,Wilmington and Lynnfield. Opening Remarks/Approval of Meeting Agenda "hairman O'Neill asked the Board members present if there were suggested changes or additions to the agenda. There were ne. Introductions Chairman O'Neill introduced Citizens' Advisory Board Secretary,John Norton and Member,Tom 011ila. On another matter, Chairman O'Neill said that Ms. Snyder will be serving as Secretary Pro Tern in Secretary Pacino's absence. Approval of January 26,2011 Board Minutes Ms. Snyder made a motion seconded by Mr.Hahn to approve the Regular Session meeting minutes of January 26,2011 with the change presented by Mr. Hahn, Mr. Hahn suggested that on page one under the Power & Rate Committee report he would like a description of the Swift River project to clarify that this is four run-of-the-river hydroelectric sites. Motion carried 4:0:0. General Manager's Report—Mr.Cameron Mr. Cameron reported on the following: APPA Legislative Rally,February 28 to March 2 Mr. Cameron stated that he will be attending the APPA Legislative Rally, along with Citizens' Advisory Board member, Arthur Carakatsane. Mr. Cameron said that he was on a conference call today in which he has received the schedule of the congressional delegation that they will be meeting with as well as the issues that will be discussed. Municipal Electric Association of Massachusetts(MEAM)Meeting,Plymouth,MA April 7 to April 8 The MEAM annual meeting will take place Thursday, April 7 and Friday, April 8 which Mr. Cameron has attended in the past. This involves a one night stay over which is overnight travel;therefore,Board approval is required for his attendance. Mr. Hahn made a motion seconded by Ms. Snyder to authorize the General Manager to travel and attend the MEAM annual aeeting in Plymouth,MA on April 7 and April 8. otion carried 4:0:0. L February 23,2011 General Manager's Report—Mr.Cameron Mr. Cameron reported on the following: Residential Customer Survey Mr. Cameron explained that the Board has received an e-mail informing them of the RMLD survey for residential customers. The residential customer survey began in February with 400 of RMLD's customers being called. RMLD Update Sheets The RMLD red update forms were inserted in the February residential billings and have had a good response. Any residential customers that would like to update their information can fill out the update and return it when they pay their bill or complete the information online using RMLD's website. The RMLD, in the future, would like to send RMLD customer bills online(paperless billing)to its customers therefore providing this information will enable this transition. Snow Removal Mr. Cameron reported that the RMLD has spent approximately$43,000 year to date in snow removal which includes clearing off the roof at 230 Ash Street which had a quite a bit of snow on it. New Citizens' Advisory Board Representative—Reading Mr. Cameron reported that the town of Reading appointed Tony Capobianco as the new representative to the Citizens' Advisory Board. Mr. Cameron said that Mr. Capobianco has met with him and Ms. O'Leary since his appointment. Mr. Cameron added that Mr.Capobianco will have an orientation at the RMLD. Streetlight Rate Targeted Meeting after March 21 The Streetlight Rate Cost of Service Study will be ready.for review by both the Citizens' Advisory Board and the RMLD Board Power and Rate Committee. The projected dates for the meetings would be after.Monday, March 21. Mr. Hahn mentioned he would not be available for this meeting date; however, the committee could meet without him. Mr. Cameron said that Ms.Foti will coordinate the meeting. Chairman O'Neill asked relative to Mr. Cameron's visit to Washington, DC what NEPPA's issues are and what New -- England issues will be discussed with representatives. Mr. Cameron responded that it appears that some transmission projects are being given their incentive rates without a lot of Federal Energy Regulatory Commission(FERC)oversight as to the nature of the transmission whether it is upgrades,additions,transmission for renewable projects,they want to speak to the congressional representatives on that issue. Mr. Cameron said that there is some question whether renewable energy bonds are going to be extended and how much money they are going to provide for clean renewable energy bonds for renewable energy projects. The Forward Capacity Market is in a state of flux, in New England they are looking at a two tiered system and this is another FERC oversight issue. Mr. Hahn wanted to clarify whether the RMLD has someone that watches FERC issues with five or six municipals banding together. Mr. Cameron said that John Coyle, Esquire, of Duncan & Allen handles these kinds of matters. Mr. Hahn commented this will give Mr. Cameron the opportunity to discuss the current cost allocation. Mr. Cameron stated that he will prepare a memo to the Board once he comes back from the APPA Legislative Rally. Mr. Soli asked what dates are for the APPA Legislative Rally. Mr. Cameron replied,Monday,February 28 to Wednesday,March 2. Financial Report—January 2011—Mr.Cameron(Attachment 1) Mr. Cameron reported on the Financial Report for January 2011. Mr. Cameron reported that there was a negative change in net assets of$125,230 reducing the year to date net income to almost$2 million. Mr. Cameron noted that year to date Base Revenues exceeded the budget by$2.8 million or 11.4%. The Base Revenues are $27.3 million compared to the budgeted amount of$24.5 million. Mr. Cameron reported that kilowatt hour sales are up almost 4.8%with the residential sector up 7.8%and the commercial sector up 3.2%. Mr. Cameron said that the RMLD not only had a good summer,also the growth in sales has continued into the winter. Mr. Cameron said that the Purchased Power Base expense was $4,400 under budget which represents .03%. The five divisions are over budget by $337,000 or 3%. Mr. Cameron pointed out page thirteen that lists the professional services . ` which were developed based on the Budget Committee's recommendations. -&-a t.v.» ..ivlliG Lllls 1Y1111U1GJ February 23,2011 Financial Report—January 2011—Mr.Cameron(Attachment 1) Ms. Snyder asked about the receivables where there is a big difference between this year and last year's and whether this is ie to increased collections. Mr. Cameron replied that$10.4 million versus$8.4 is due to the concerted collection efforts at RMLD. Ms. Snyder asked about the Purchase Power Capacity- there is a large decrease year to date. Mr. Cameron explained that with the FY 11 Cost of Service Study,FY 11 Purchased Power Capacity costs were rolled into the Base Rates for FY 12. Chairman O'Neill asked whether employee benefits reflects year to date numbers. Mr. Cameron confirmed that it does reflect year to date numbers. Power Supply Report—January 2011—Ms.Parenteau(Attachment 2) Ms.Parenteau reported on the Power Supply Report for January 2011. Ms.Parenteau reported that RMLD's load for January was 62.5 million kilowatt hours which was a 2% increase compared to January 2010. Energy costs were$3.6 million which is equivalent to $.058 per kilowatt hour. In January, the Fuel Charge Adjustment was $.059 per kilowatt hour. RMLD's sales in January were 61.5 million kilowatt hours. In January the RMLD under collected by$51,000,resulting in a Deferred Fuel Cash Reserve balance of$2.4 million. Ms. Parenteau said that in February the Fuel Charge Adjustment was decreased by $.003 to $.056 per kilowatt hour and currently the forecast is that it will remain unchanged for March. Ms. Parenteau reported that the RMLD purchased approximately 20%of its energy requirement from the ISO Spot Market with the average cost of$.065per kilowatt hour. The RMLD hit a demand of 112 megawatts on January 24,2011 at 7:00 p.m.compared to the peak of 107 megawatts which occurred in January 4,2010 at 6:00 p.m. The RMLD's monthly capacity requirement was 205 megawatts. The RMLD paid$1.5 million for capacity which is equivalent to$7.28 per kilowatt month. Ms. Parenteau said that she owes the Board an explanation on the Braintree/Watson Unit charges; this is currently with the General Manager for review and will be to the Board by Friday. Mr. Soli asked on Table 2 if items such as DA and LMP could be spelled out. Ms. Parenteau said that those items can be spelled out. Mr. Soli inquired if the ISO Interchange on Table 2 was the same number on Table 1. Ms.Parenteau explained 'hat there are two markets, one of which is the Day Ahead Market(DA) which is a financially settled market based on what '`e RMLD forecasts for load. The RMLD submits what it anticipates its hourly projected loads will be based on weather and .,istoncal information and that gets submitted daily to the ISO with price parameters for what RMLD is willing to pay for energy. The Real Time market is used to fulfill the energy requirement of the RMLD system. The ISO schedules generators to come on line based on prices in the Real Time. The actual Real Time load that was projected in the Day Ahead market may be higher or lower. At the end of the month there is a portfolio of resources used that are from both the Day Ahead and Real Time markets. The portfolio gets settled through the ISO at the end of the month. This is what the two lines represent. Mr. Soli asked if the third line is a summation of the other two lines. Ms. Parenteau replied, no, it is a more complex calculation than that, and is a sum based on the dollars however; the total load is the sum of the Day Ahead and Real Time markets. Ms. Parenteau reported that the RMLD's transmission costs for January were $754,000 which is a 20% increase from December. Ms. Parenteau explained that the increase was due to a demand increase of 5% (112 megawatts to the 106 megawatts)as well as a rate increase of the RNS rate($5 to$5.50 per kilowatt month.) Mr. Hahn asked if the RMLD tracks degree days. Ms. Parenteau replied that they do track degree days. Mr.Hahn asked if it has been considerably colder for the winter this year. Ms. Parenteau said that she will provide Mr. Hahn with that information. Chairman O'Neill asked about the significance of this data. Mr.Hahn responded that sales go up because of the colder temperatures however, some economic growth contributed to increased sales as well. Ms Parenteau said that the increase of sales is most likely a combination of those factors. Mr. Norton said that he would like to compliment Ms. Parenteau and her department for the two recent contracts with Concord Power and Steam, LLC as well as Swift River Trading Company, LLC. Mr. Norton said that he had conveyed to Mr. Cameron that the Citizens' Advisory Board and the RMLD Board have been seeking contracts with renewable energy. Mr.Norton pointed out that Ms.Parenteau and her staff spent a lot of time researching these types of contracts and wanted to compliment them for a job well done. Parenteau provided an update that in January following the RMLD Board meeting,the RMLD did sign a purchase power Infract with Concord Steam with the project coming online in December 2012 or January 2013. February 23,2011 Power Supply Report—January 2011—Ms.Parenteau(Attachment 2) Ms. Parenteau reported that the RMLD is in the process of finalizing the contract with Swift River Hydro and currently anticipate that the agreement will be signed in early March 2011 to be effective April 1, 2011. In addition, the RMLD is currently looking at the pricing of three separate long term contracts for base load units or units that have low heat rates or inexpensive fuel charge. There would be a corresponding capacity charge. The RMLD is endeavoring to potentially stabilize fuel pricing. Chairman O'Neill asked what the base load units are fueled by. Ms.Parenteau replied natural gas. Engineering and Operations Report—January 2011-Mr. Sullivan(Attachment 3) Mr. Sullivan reported on the Engineering and Operations Report for January 2011. Mr. Sullivan said that with the scheduled and tangible milestones the RMLD is almost finished with the Gaw project. Mr. Sullivan reported that they are waiting for the transfer scheme to be completed with an anticipated completion date of early March. Mr. Sullivan reported that the changes this month are to the feeder reassignment work. Mr. Sullivan stated that in reference to the Gaw project this month there is $199,000 in capital costs, $186,000 of which represents contract labor, $9,000 RMLD labor and $4,000 feeder reassignment. Mr. Sullivan reported that the cost of the Gaw upgrade project is$6.84 million. Mr. Sullivan said that the soil remediation number is at$2.438 million. Mr. Sullivan reported that the soil samples came back as non detects. Mr. Sullivan commented that a project close out will take place at the beginning of March. Mr. Sullivan commented on the following projects worked on during the month: Project 4 Boutwell Street—will be closed out next month; Project 7 URD Completion—will be closed out next month;Project 23 15kV Circuit Breaker Replacement- will be done soon;Project 36 3W8 Salem Street&Baystate Road-in process;and Project 37 Elm Street—in process. Mr. Sullivan said that on the service installations on the residential side there were approximately 40 services and on the commercial side there were two services. In routine construction there were 35 cutouts replaced making a total of 258 for fiscal year 2011. Mr. Sullivan reported on the Reliability Report. The Customer Average Interruption Duration Index(CAIDI)rolling average for the month is up to 15.7 minutes for the month; however,this is largely due to 286 customers being affected by an outage in January. That coupled with the difficult trouble analysis in a snowstorm lead to that increase. The CAIDI rolling average is up by 2.6 minutes. The System Average Interruption Frequency Index (SAIFI) stayed the same, the rolling average decreased to 1.25. The Months between Interruptions (MBTI) is up significantly to 19.05 months for customers on the system. Mr. Sullivan provided an update on the reliability statistics number: number of calls 109, outage incidents 18, customers affected 286, feeder outages 0, area outages 9, and service outages 9 with the causes of outages remaining the same with tree conditions,animals,bad connectors and failed hardware. Chairman O'Neill asked.Mr. Sullivan for an update on the meter replacement project. Mr. Sullivan replied that 2,000 meters have been changed out and they are on schedule. However,they are likely to have to cut back in the month of March due to the difficult access through the snow because the meter change outs will be at individual residences. Chairman O'Neill commented that the CAIDI number is going up. Mr. Sullivan explained that what has happened is that the numbers of customers is getting smaller, in December there were 267 and January286 did not have service. Based on the fact the numbers are smaller, it results in a higher CAIDI even if there is one incident. Mr. Sullivan said that 200 out of 286 customers were out on a January 12 snowstorm which involved clearing limbs to trouble shoot the outage. The problem was with the fuse although there was no initial indication of this because the door to the cutout did not open. Chairman O'Neill asked if this was an old cutout. Mr. Sullivan responded that it does not matter because, although it's rare, these things happen. Mr. Hahn asked if this could not be detected visually. Mr. Cameron responded that the cutout didn't open so you couldn't see it and they had to go back out to find it. General Discussion Chairman O'Neill stated that she wants to get a Policy Committee meeting together in March. Chairman O'Neill said that she would like to get an environmental policy statement together and then look how to proceed with that. February 23,2011 General Discussion Chairman O'Neill said that she received a report from Mr. Cameron on Public Relations and would like it on the agenda for next meeting. Chairman O'Neill commented that she would like the public relations program looked at, for example, at we would like to emphasize and bringing in the new components. Chairman O'Neill stated that she would like to review the RMLD's website and how it is managed needs to be looked at as well as how it is kept up to date. Mr. Cameron pointed out there is no Public Relations Committee, Chairman O'Neill said that the Public Relations Committee was not assigned this year but it was abolished. Chairman O'Neill said that the Board can decide if they want to assign this to a committee. Chairman O'Neill said that at the next meeting, Mr. Carpenter will be presenting his Quarterly Energy Efficiency update. Ms. Snyder mentioned that she had spoken to Mr. Carpenter who had entered the RMLD's information into the Energy Star portfolio manager and the building did not rate well and such a low score indicates that there should be many opportunities to improve the energy efficiency of the building. Ms. Snyder would like to have Mr. Carpenter address this in his presentation- what can be done to make the building more energy efficient. Chairman O'Neill passed out a document she received from a Reading resident and Town meeting member and asked if Mr. Carpenter would in rporate those issues during his presentation at the March meeting. BOARD MATERIAL AVAILABLE BUT NOT DISCUSSED Rate Comparisons,February 2011 E-Mail responses to Account Payable/Payroll Questions Upcoming Meetings Wednesday,March 30,2011 and April 27,2011 Chairman O'Neill stated that the RMLD Board meeting in April is after the town election in which the Board reorganizes. Chairman O'Neill said that she has one concern relative to the committees because the budget process will have started and how will that affect committee assignments, for example the Budget Committee will have begun meeting. Ms. Snyder said ,at other town boards and committees reorganize with the fiscal year, and since the budget process will be completed at that ,he if might make sense to re-organize on the same schedule as other town boards. Mr.Hahn pointed out that the election is the first Tuesday in April that is why the Board reorganizes in April and he didn't feel it would be a problem for the budget committee. Executive Session At 8:14 p.m. Ms. Snyder made a motion seconded by Mr. Hahn that the Board go into Executive Session to approve Executive Session meeting minutes of January 26,2011 and return to Regular Session for adjournment. Motion carried 4:0:0. Mr.Hahn,Aye;Chairman O'Neill,Aye;Ms. Snyder,Aye; and Mr. Soli,Aye. Adjournment At 8:25 p.m. Ms. Snyder made a motion seconded by Mr.Hahn to adjourn the Regular Session. Motion carried 4:0:0. A true copy of the RMLD Board of Commissioners minutes as approved by a majority of the Commission. Gina Snyder, Secretary Pro Tem RMLD Board of Commissioners ATTACHMENT 1 Dt: February 21, 2011 To: RMLB, Vincent F. Cameron, Jr., Jeanne Foti Fr: Bob Fournier `/fit l jr u Sj: Financial Report January 31, 2011 The results for the first seven months ending January 31, 2011, for the fiscal year 2011 will be summarized in the following paragraphs. 1) Change in Net Assets or Net Income: (Page 3A) For the month of January, the net loss or the negative change in net assets was $125,230, reducing the year to date net income to $1,994,236. The year to date budgeted net income was $312,397, the difference being $1,681,839. Year to date fuel revenues exceeded fuel expenses by only$69,308. Year to date energy conservation revenues exceeded energy conservation expenses by$34,916. Year to date GAW soil remediation expenses totalled$1,240,767, bringing the total cost to date for this project to $2,337,199. 2) Revenues: (Page 11B) 4 Year to date base revenues were over budget by$2,795,229 or 11.4 %. Actual ® base revenues were $27.3 million compared to the budgeted amount of$24.5 million. 3) Expenses: (Page 12A) *Year to date purchased power base expense was $4,429 or .03% under budget. Actual purchased power base costs were $16.4 million compared to the budgeted amount of$16.4 million. *Year to date operating and maintenance (O&M) expenses combined were over budget by$368,508 or 5.1%. Actual O&M expenses were $7.6 million compared to the budgeted amount of$7.2 million. The major expenses that were over budget were maintenance of line transformers ($632,251) and employee benefits ($267,282). *Depreciation expense and voluntary payments to the Towns were on budget. 4) Cash: (Page 9) *Operating Fund balance was at $6,854,766. *Capital Funds balance was at $4,740,173. *Rate Stabilization Fund balance was at $5,381,131. *Deferred Fuel Fund balance was at $2,395,420. *Energy Conservation balance was at $343,798. 5) General Information: Year to date kwh sales (Page 5) were 4.77%, or 19.8 million kwh ahead of last year's figure. GAW revenues to date are $294,545. 6)Budget Variance: Cumulatively, the five divisions were over budget by $337,308 or 2.98 %. FINANCIAL REPORT JANUARY 31 , 2011 ISSUE DATE : FEBRUARY 21 , 2011 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND STATEMENT OF NET ASSETS 1/31/11 PREVIOUS YEAR CURRENT YEAR ASSETS CURRENT UNRESTRICTED CASH (SCH A P.9) 2,630,816.52 6,857,766.85 RESTRICTED CASH (SCH A P.9) 13,799,597.88 15,656,711.79 RESTRICTED INVESTMENTS (SCH A P.9) 4,400,000.00 2,200,000.00 RECEIVABLES, NET (SCH B P.10) 10,452,838.93 8,439,835.61 PREPAID EXPENSES (SCH B P.10) 2,306,987.60 2,206,076.79 INVENTORY 1,457,332.46 1,723,347.67 TOTAL CURRENT ASSETS 35,047,573.39 37,083,738.71 NONCURRENT INVESTMENT IN ASSOCIATED CO (SCH C P.2) 108,967.43 88,151.26 CAPITAL ASSETS, NET (SCH C P.2) 65,695,240.27 67,447,387.61 TOTAL NONCURRENT ASSETS 65,804,207.70 67,535,538.87 TOTAL ASSETS 100,851,781.09 104,619,277.58 LIABILITIES CURRENT ACCOUNTS PAYABLE 5,990,270.11 6,848,434.98 CUSTOMER DEPOSITS 481,462.86 515,693.20 CUSTOMER ADVANCES FOR CONSTRUCTION 590,040.02 330,793.90 ACCRUED LIABILITIES 1,091,273.15 1,090,221.95 TOTAL CURRENT LIABILITIES 8,153,046.14 8,785,144.03 NONCURRENT ACCRUED EMPLOYEE COMPENSATED ABSENCES 2,873,114.33 3,020,032.75 TOTAL NONCURRENT LIABILITIES 2,873,114.33 3,020,032.75 TOTAL LIABILITIES 11,026,160.47 11,805,176.78 NET ASSETS INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT 65,695,240.27 67,447,387.61 RESTRICTED FOR DEPRECIATION FUND (P.9) 5,404,260.58 4,740,173.37 UNRESTRICTED 18,726,119.77 20,626,539.82 TOTAL NET ASSETS (P.3) 89,825,620.62 92,814,100.80 TOTAL LIABILITIES AND NET ASSETS 100,851,781.09 104,619,277.58 i TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT NONCURRENT ASSET SCHEDULE 1/31/11 SCHEDULE C PREVIOUS YEAR CURRENT YEAR SCHEDULE OF INVESTMENTS IN ASSOCIATED COMPANIES NEW ENGLAND HYDRO ELECTRIC 41,937.50 23,538.60 NEW ENGLAND HYDRO TRANSMISSION 67,029.93 64,612.66 TOTAL INVESTMENTS IN ASSOCIATED COMPANIES 108,967.43 88,151.26 SCHEDULE OF CAPITAL ASSETS LAND 1,265,842.23 1,265,842.23 STRUCTURES AND IMPROVEMENTS 6,997,417.80 6,753,629.88 EQUIPMENT AND FURNISHINGS 12,918,491.90 13,167,134.79 INFRASTRUCTURE 44,513,488.34 46,260,780.71 TOTAL UTILITY PLANT 65,695,240.27 67,447,387.61 TOTAL NONCURRENT ASSETS 65,804,207.70 67,535,538.87 (2) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 1/31/11 MONTH MONTH LAST YEAR CURRENT YEAR YTD LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE OPERATING REVENUES: (SCH D P.11) BASE REVENUE 3,768,018.93 4,034,763.61 23,550,408.88 27,324,920.54 16.03% FUEL REVENUE 4,473,198.05 3,629,698.16 26,750,838.89 25,147,934.40 -5.99% PURCHASED POWER CAPACITY 229,866.39 32,606.08 2,273,788.28 1,156,560.83 -49.14% FORFEITED DISCOUNTS 82,694.51 94,513.95 509,834.81 613,667.00 20.37% ENERGY CONSERVATION REVENUE 53,295.39 30,297.72 332,632.54 311,149.11 -6.46% GAW REVENUE 0.00 61,534.17 0.00 294,545.11 100.00% PASNY CREDIT (22,862.60) (59,937.36) (233,088.40) (427,390.42) 83.36% TOTAL OPERATING REVENUES 8,584,210.67 7,823,476.33 53,184,415.00 54,421,386.57 2.33% OPERATING EXPENSES: (SCH E P.12) PURCHASED POWER BASE 2,387,788.41 2,243,845.82 16,448,359.66 16,388,717.23 -0.36% PURCHASED POWER FUEL 3,704,455.86 3,620,814.67 24,961,985.54 24,651,235.51 -1.24% OPERATING 956,606.10 862,010.77 4,967,804.54 4,950,034.69 -0.36% MAINTENANCE 637,668.83 655,595.29 1,713,415.47 2,639,911.02 54.07% DEPRECIATION 280,105.78 287,729.05 1,960,740.46 2,014,103.35 2.72% VOLUNTARY PAYMENTS TO TOWNS 104,500.00 105,885.00 731,246.00 765,885.00 4.74% TOTAL OPERATING EXPENSES 8,071,124.98 7,775,880.60 50,783,551.67 51,409,886.80 1.23% OPERATING INCOME 513,085.69 47,595.73 2,400,863.33 3,011,499.77 25.43% N .RATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST 10,884.28 35.00 421,240.71 34,887.42 -91.72% RETURN ON INVESTMENT TO READING (182,222.50) (180,990.00) (1,275,557.50) (1,266,930.00) -0.68% INTEREST INCOME 49,442.65 6,749.10 136,018.58 67,066.73 -50.69% INTEREST EXPENSE (1,254.74) (1,000.34) (14,545.58) (9,294.00) -36.10% OTHER (MDSE AND AMORT) 8,526.72 2,380.00 117,884.96 157,006.27 33.19% TOTAL NONOPERATING REV (EXP) (114,623.59) (172,826.24) (614,958.83) (1,017,263.58) 65.42% CHANGE IN NET ASSETS 398,462.10 (125,230.51) 1,785,904.50 1,994,236.19 11.67% NET ASSETS AT BEGINNING OF YEAR 88,039,716.12 90,819,864.61 3.16% NET ASSETS AT END OF JANUARY 89,825,620.62 92,814,100.80 3.33% (3) i TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 1/31/11 ACTUAL BUDGET YEAR TO DATE YEAR TO DATE VARIANCE* CHANGE OPERATING REVENUES: (SCH F P.11B) BASE REVENUE 27,324,920.54 24,529,691.00 2,795,229.54 11.40% FUEL REVENUE 25,147,934.40 24,462,178.00 685,756.40 2.80% PURCHASED POWER CAPACITY 1,156,560.83 3,268,779.00 (2,112,218.17) -64.62% FORFEITED DISCOUNTS 613,667.00 539,653.00 74,014.00 13.72% ENERGY CONSERVATION REVENUE 311,149.11 323,777.00 (12,627.89) -3.90% GAW REVENUE 294,545.11 150,000.00 144,545.11 96.36% PASNY CREDIT (427,390.42) (350,000.00) (77,390.42) 22.11% TOTAL OPERATING REVENUES 54,421,386.57 52,924,078.00 1,497,308.57 2.83% OPERATING EXPENSES: (SCH G P.12A) PURCHASED POWER BASE 16,388,717.23 16,393,147.00 (4,429.77) -0.039,. PURCHASED POWER FUEL 24,651,235.51 25,542,178.00 (890,942.49) -3.49% OPERATING 4,950,034.69 5,147,543.00 (197,508.31) -3.84% MAINTENANCE 2,639,911.02 2,073,894.00 566,017.02 27.29% DEPRECIATION 2,014,103.35 2,041,669.00 (27,565.65) -1.35% VOLUNTARY PAYMENTS TO TOWNS 765,885.00 770,000.00 (41115.00) -0.53% TOTAL OPERATING EXPENSES 51,409,886.80 51,968,431.00 (558,544.20) -1.07% OPERATING INCOME 3,011,499.77 955,647.00 2,055,852.77 215.13% NONOPERATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST 34,887.42 300,000.00 (265,112.58) -88.37% RETURN ON INVESTMENT TO READING (1,266,930.00) (1,268,750.00) 1,820.00 -0.14% INTEREST INCOME 67,066.73 262,500.00 (195,433.27) -74.45% INTEREST EXPENSE (9,294.00) (7,000.00) (2,294.00) 32.77% OTHER (MDSE AND AMORT) 157,006.27 70,000.00 87,006.27 124.29% TOTAL NONOPERATING REV (EXP) (1,017,263.58) (643,250.00) (374,013.58) 58.14% CHANGE IN NET ASSETS 1,994,236.19 312,397.00 1,681,839.19 538.37% NET ASSETS AT BEGINNING OF YEAR 90,819,864.61 88,039,716.12 2,780,148.49 3.16% NET ASSETS AT END OF JANUARY 92,814,100.80 88,352,113.12 4,461,987.68 5.05% * ( ) = ACTUAL UNDER BUDGET (3A) TOWN OF READING, MASSACHUSETTS MUNICIPAL "LIGHT DEPARTMENT RECONCILIATION OF CAPITAL FUNDS 1/31/11 SOURCE OF CAPITAL FUNDS: DEPRECIATION FUND BALANCE 7/1/10 4,801,693.77 CONSTRUCTION FUND BALANCE 7/1/10 0.00 f INTEREST ON DEPRECIATION FUND FY 11 9,538.66 DEPRECIATION TRANSFER FY 11 2,014,103.35 FORCED ACCOUNTS REIMBURSEMENT 0.00 GAW SUBSTATION FY 11 494,829.00 TOTAL SOURCE OF CAPITAL FUNDS 7,320,164.78 USE OF CAPITAL FUNDS: PAID ADDITIONS TO PLANT THRU JANUARY 2,085,162.41 PAID ADDITIONS TO GAW THRU JANUARY 494,829.00 TOTAL USE OF CAPITAL FUNDS 2,579,991.41 GENERAL LEDGER CAPITAL FUNDS BALANCE 1/31/11 4,740,173.37 PAID ADDITIONS TO GAW FROM FY 11 494,829.00 PAID ADDITIONS TO GAW FROM FY 10 1,372,876.00 PAID ADDITIONS TO GAW FROM FY 09 3,136,764.00 PAID ADDITIONS TO GAW FROM FY 08 1,895,975.00 TOTAL 6,900,444.00 (4) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SALES OF KILOWATT HOURS 1/31/11 MONTH MONTH LAST YEAR CURRENT YEAR YTD SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 25,977,843 23,596,837 151,713,178 163,587,538 7.83% COMM. AND INDUSTRIAL SALES 37,983,262 34,924,989 244,542,847 252,473,262 3.2496 PRIVATE STREET LIGHTING 71,334 73,252 497,083 502,929 1.18% TOTAL PRIVATE CONSUMERS 64,032,439 58,595,078 396,753,108 416,563,729 4.99% MUNICIPAL SALES: STREET LIGHTING 237,395 239,009 1,660,767 1,671,587 0.65% MUNICIPAL BUILDINGS 1,072,646 964,827 5,896,278 5,835,481 —1.03% TOTAL MUNICIPAL CONSUMERS 1,310,041 1,203,836 7,557,045 7,507,068 —0.66% SALES FOR RESALE 337,262 312,294 1,971,753 2,124,784 7.76% SCHOOL 1,588,384 1,409,774 8,360,231 8,235,900 —1.49% TOTAL KILOWATT HOURS SOLD 67,268,126 61,520,982 414,642,137 434,431,481 4.77% !s) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT KILOWATT HOURS SOLD BY TOWN 1/31/11 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 23,596,837 7,630,334 3,042,977 5,719,827 7,203,699 COMM & IND 34,924,989 4,597,466 278,305 5,282,384 24,766,834 PVT ST LIGHTS 73,252 14,039 1,360 21,936 35,917 PUB ST LIGHTS 239,009 80,436 32,437 39,837 86,299 MUNI BLDGS 964,627 303,886 150,167 162,564 348,210 SALES/RESALE 312,294 312,294 0 0 0 SCHOOL 1,409,774 499,858 281,803 175,160 452,953 TOTAL 61,520,982 13,438,313 3,787,049 11,401,708 32,893,912 YEAR TO DATE RESIDENTIAL 163,587,538 51,137,761 23,366,372 38,108,144 50,975,261 COMM & IND 252,473,262 31,146,526 2,018,005 38,129,078 181,179,653 PVT ST LIGHTS 502,929 97,889 9,520 148,922 246,598 PUB ST LIGHTS 1,671,587 563,052 227,211 277,819 603,505 MUNI BLDGS 5,835,481 1,502,035 1,012,702 1,206,439 2,114,305 SALES/RESALE 2,124,784 2,124,784 0 0 0 SCHOOL 8,235,900 2,928,145 1,748,130 1,073,360 2,486,265 TOTAL 434,431,481 89,500,192 28,381,940 78,943,762 237,605,587 LAST YEAR TO DATE RESIDENTIAL 151,713,178 47,100,112 21,861,051 34,944,318 47,807,697 COMM & IND 244,542,847 30,248,136 1,981,391 38,475,375 173,837,945 PVT ST LIGHTS 497,083 98,033 9,520 146,262 243,268 PUB ST LIGHTS 1,660,767 550,457 229,957 277,904 602,449 MUNI BLDGS 5,896,278 1,516,454 992,513 1,151,934 2,235,377 SALES/RESALE 1,971,753 1,971,753 0 0 0 SCHOOL 8,360,231 3,090,079 1,705,988 1,049,680 2,514,484 TOTAL 414,642,137 84,575,024 26,780,420 76,045,473 227,241,220 KILOWATT HOURS SOLD TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 38.36% 12.40% 4.95% 9.30% 11.71% COMM & IND 56.77% 7.47% 0.45% 8.59% 40.26% PVT ST LIGHTS 0.12% 0.02% 0.00% 0.04% 0.06% PUB ST LIGHTS 0.38% 0.13% 0.05% 0.06% 0.14% MUNI BLDGS 1.57% 0.49% 0.24% 0.26% 0.58% SALES/RESALE 0.51% 0.51% 0.00% 0.00% 0.00% SCHOOL 2.29% 0.81% 0.46% 0.28% 0.74% TOTAL 100.00% 21.83% 6.15% 18.53% 53.49% YEAR TO DATE RESIDENTIAL 37.65% 11.77% 5.38% 8.77% 11.73% COMM & IND 58.12% 7.17% 0.46% 8.78% 41.71% PVT ST LIGHTS 0.12% 0.02% 0.00% 0.03% 0.07% PUB ST LIGHTS 0.38% 0.13% 0.05% 0.06% 0.14% MUNI BLDGS 1.34% 0.35% 0.23% 0.28% 0.48% SALES/RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 1.90% 0.67% 0.40% 0.25% 0.58% TOTAL 100.00% 20.60% 6.52% 18.17% 54.71% LAST YEAR TO DATE RESIDENTIAL 36.59% 11.36% 5.27% 8.43% 11.53% COMM & IND 58.97% 7.29% 0.48% 9.28% 41.92% PVT ST LIGHTS 0.12% 0.02% 0.00% 0.04% 0.06% PUB ST LIGHTS 0.40% 0.13% 0.06% 0.07% 0.1496 MUNI BLDGS 1.42% 0.37% 0.24% 0.28% 0.53% SALES/RESALE 0.48% 0.48% 0.00% 0.00% 0.00% SCHOOL 2.02% 0.75% 0.41% 0.25% 0.61% TOTAL 100.00% 20.4096 6.46% 18.35% 54.79% (6) i TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT FORMULA INCOME 1/31/11 TOTAL OPERATING REVENUES (P.3) 54,421,386.57 ADD: POLE RENTAL 99,586.40 CUSTOMER DEPOSIT INTEREST INCOME 968.87 LESS: OPERATING EXPENSES (P.3) (51,409,886.80) CUSTOMER DEPOSIT INTEREST EXPENSE (8,293.66) FORMULA INCOME (LOSS) 3,103,761.38 (7) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT GENERAL STATISTICS 1/31/11 MONTH OF MONTH OF % CHANGE YEAR THRU JAN 2010 JAN 2011 2010 2011 JAN 2010 JAN 2011 SALE OF KWH (P.5) 67,268,126 61,520,982 -3.67% 4.77% 414,642,137 434,431,481 KWH PURCHASED 61,393,989 62,562,960 -5.72% 5.15% 424,524,353 446,397,650 AVE BASE COST PER KWH 0.038893 0.035865 17.18% -5.24% 0.038745 0.036713 AVE BASE SALE PER KWH 0.056015 0.065584 4.86% 10.74% 0.056797 0.062898 AVE COST PER KWH 0.099232 0.093740 -15.87% -5.755. 0.097545 0.091936 AVE SALE PER KWH 0.122513 0.124583 -15.01% -0.43% 0.121312 0.120785 FUEL CHARGE REVENUE (P.3) 4,473,198.05 3,629,698.16 -26.14% -5.99% 26,750,838.89 25,147,934.40 LOAD FACTOR 78.70% 76.40% PEAK LOAD 106,870 112,174 (6) ^` GG Ndr (3) oG O3a Of AON , 4. r1\ o L 100 Cn (3) VJ 0l d3S 0 O� o G end (3) V (D � i oG Jnr OL Nnr cz � � � o dw ^ ov udd o f ddw 1 � OL Had T o L Ndr 60 O34 60 AON 60-LOO 60 d3S 60 and ■� 60-inr 60 Nnr 60 AVVq 60 add cz 60 ddw /� 60 Had ♦V 60 Ndr 80090 80 AON 80100 80 d3S 8o E)nd so-inr 80 Nnr so Adw 80 udd so UVA 80 Had 80 Ndr I LO O LO O LO O LO O �- O 00 r*-- LO ":t N T' r r Q p Q p p O • TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF CASH AND INVESTMENTS 1/31/11 SCHEDULE A PREVIOUS YEAR CURRENT YEAR UNRESTRICTED CASH CASH - OPERATING FUND 2,627,816.52 6,854,766.85 CASH - PETTY CASH 3,000.00 3,000.00 TOTAL UNRESTRICTED CASH 2,630,816.52 6,857,766.85 RESTRICTED CASH CASH - DEPRECIATION FUND 5,404,260.58 4,740,173.37 CASH - TOWN PAYMENT 286,725.00 291,250.00 CASH - DEFERRED FUEL RESERVE 3,295,159.20 2,395,420.56 CASH - RATE STABILIZATION FUND 2,400,105.06 4,381,131.86 CASH - UNCOLLECTIBLE ACCTS RESERVE 28,988.15 200,000.00 CASH - SICK LEAVE BENEFITS 1,404,167.67 2,024,793.05 CASH - INSURANCE RESERVE 35,251.72 0.00 CASH - HAZARD WASTE RESERVE 150,000.00 150,000.00 CASH - CUSTOMER DEPOSITS 481,462.86 515,693.20 CASH - ENERGY CONSERVATION 313,477.64 343,798.77 CASH - OPEB 0.00 614,450.98 TOTAL RESTRICTED CASH 13,799,597.88 15,656,711.79 RESTRICTED INVESTMENTS RATE STABILIZATION * 2,900,000.00 1,000,000.00 SICK LEAVE BENEFITS ** 1,500,000.00 1,000,000.00 OPEB *** 0.00 200,000.00 TOTAL RESTRICTED INVESTMENTS 4,400,000.00 2,200,000.00 TOTAL CASH BALANCE 20,830,414.40 24,714,478.64 JAN 2010 * FED HOME LOAN MTG CORP 1,400,000.00; DTD 07/02/09; INT 3.25%; MATURITY 07/15/14 * FED HOME LOAN MTG CORP 1,500,000.00; DTD 01/23/09; INT 2.00%; MATURITY 01/15/13 ** FED HOME LOAN MTG CORP 500,000.00; DTD 01/23/09; INT 2.00%; MATURITY 01/15/13 ** FED HOME LOAN MTG CORP 500,000.00; DTD 06/01/09; INT 3.70%; MATURITY 06/11/16 ** FED NATIONAL MORT ASSN 500,000.00; DTD 05/07/09; INT 3.00%; MATURITY 05/15/15 JAN 2011 * FREDDIE MAC 1,000,000.00; DTD 09/10/10; INT 2.00%; MATURITY 09/15/20 ** FREDDIE MAC 1,000,000.00; DTD 09/10/10; INT 2.00%; MATURITY 09/15/20 *** FREDDIE MAC 200,000.00; DTD 09/10/10; INT 2.00%; MATURITY 09/15/20 (9) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF ACCOUNTS RECEIVABLE 1/31/11 SCHEDULE B PREVIOUS YEAR CURRENT YEAR SCHEDULE OF ACCOUNTS RECEIVABLE RESIDENTIAL AND COMMERCIAL 6,338,811.41 4,805,309.83 ACCOUNTS RECEIVABLE — OTHER 325,503.55 138,744.20 ACCOUNTS RECEIVABLE — LIENS 176,298.73 105,586.12 ACCOUNTS RECEIVABLE — EMPLOYEE ADVANCES 1,067.16 1,067.16 SALES DISCOUNT LIABILITY (349,471.06) (357,716.40) RESERVE FOR UNCOLLECTIBLE ACCOUNTS (212,315.44) (308,314.41) TOTAL ACCOUNTS RECEIVABLE BILLED 6,279,894.35 4,384,676.50 UNBILLED ACCOUNTS RECEIVABLE 4,172,944.58 4,055,159.11 TOTAL ACCOUNTS RECEIVABLE, NET 10,452,838.93 8,439,835.61 SCHEDULE OF PREPAYMENTS PREPAID INSURANCE 1,363,827.34 1,412,723.82 PREPAYMENT PURCHASED POWER 479,031.58 379,285.27 PREPAYMENT PASNY 286,833.66 239,666.63 PREPAYMENT WATSON 162,771.32 159,877.37 PURCHASED POWER WORKING CAPITAL 14,523.70 14,523.70 TOTAL PREPAYMENT 2,306,987.60 2,20�6 076.79 ACCOUNTS RECEIVABLE AGING DECEMBER 2010: RESIDENTIAL AND COMMERCIAL 4,805,309.83 LESS: SALES DISCOUNT LIABILITY (357,716.40) GENERAL LEDGER BALANCE 4,447,593.43 CURRENT 3,611,288.83 81.20% 30 DAYS 443,700.83 9.98% 60 DAYS 168,514.24 3.79% 90 DAYS 108,349.66 2.44% OVER 90 DAYS 115,739.87 2.59% TOTAL 4,447,593.43 100.00% (lo) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE 1/31/11 SCHEDULE D MONTH MONTH LAST YEAR CURRENT YEAR YTD % SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 3,499,745.39 3,230,381.85 20,200,320.24 21,591,805.90 6.89% COMM AND INDUSTRIAL SALES 4,317,637.70 4,049,740.57 27,687,355.05 28,501,661.35 2.94% PRIVATE STREET LIGHTING 10,724.02 10,981.54 73,324.07 73,839.51 0.70% TOTAL PRIVATE CONSUMERS 7,828,107.11 7,291,103.96 47,960,999.36 50,167,306.76 4.60% MUNICIPAL SALES: STREET LIGHTING 47,076.95 47,157.01 325,358.00 324,965.18 -0.12% MUNICIPAL BUILDINGS 129,913.36 119,103.91 719,525.76 716,441.00 -0.43% TOTAL MUNICIPAL CONSUMERS 176,990.31 166,260.92 1,044,883.76 1,041,406.18 -0.33% SALES FOR RESALE 43,435.75 39,967.63 250,010.33 262,906.76 5.16% SCHOOL 192,683.81 167,129.26 1,045,354.32 1,001,235.24 -4.22% SUB-TOTAL 8,241,216.98 7,664,461.77 50,301,247.77 52,472,854.94 0.05 EITED DISCOUNTS 82,694.51 94,513.95 509,834.81 613,667.00 20.37% PURCHASED POWER CAPACITY 229,866.39 32,606.08 2,273,788.28 1,156,560.83 -49.14% ENERGY CONSERVATION - RESIDENTIAL 12,994.74 11,803.45 75,896.70 81,833.64 7.82% ENERGY CONSERVATION - COMMERCIAL 40,300.65 18,494.27 256,735.84 229,315.47 -10.68% GAW REVENUE 0.00 61,534.17 0.00 294,545.11 100.00% PASNY CREDIT (22,862.60) (59,937.36) (233,088.40) (427,390.42) 83.36% TOTAL REVENUE 8,584,210.67 7,823,476.33 53,184,415.00 54,421,386.57 2.33% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE BY TOWN 1/31/11 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 3,230,381.85 1,046,502.62 415,706.65 781,787.80 986,384.78 INDUS/MUNI BLDG 4,168,844.48 595,423.69 53,449.42 649,616.47 2,870,354.90 PUB.ST.LIGHTS 47,157.01 16,471.08 5,747.81 7,798.79 17,139.33 PRV.ST.LIGHTS 10,981.54 2,048.51 202.57 3,449.41 5,281.05 CO-OP RESALE 39,967.63 39,967.63 0.00 0.00 0.00 SCHOOL 167,129.26 59,399.58 33,152.89 21,392.09 53,184.70 TOTAL 7,664,461.77 1,759,813.11 508,259.34 1,464,044.56 3,932,344.76 THIS YEAR TO DATE RESIDENTIAL 21,591,805.90 6,782,125.34 3,057,452.60 5,036,665.92 6,715,562.04 INDUS/MUNI BLDG 29,218,102.35 3,923,828.61 365,997.70 4,544,681.78 20,383,594.26 PUB.ST.LIGHTS 324,965.18 113,774.59 39,633.23 53,530.13 118,027.23 PRV.ST.LIGHTS 73,839.51 13,985.66 1,392.01 22,866.05 35,595.79 CO-OP RESALE 262,906.76 262,906.76 0.00 0.00 0.00 SCHOOL 1,001,235.24 357,097.86 209,030.08 133,608.17 301,499.13 TOTAL 52,472,854.94 11,453,718.82 3,673,505.60 9,791,352.06 27,554,278.46 LAST YEAR TO DATE RESIDENTIAL 20,200,320.24 6,288,974.94 2,896,708.70 4,659,020.64 6,355,615.96 INDUS/MUNI BLDG 28,406,880.81 3,772,988.32 355,639.88 4,564,487.17 19,713,765.44 PUB.ST.LIGHTS 325,358.00 112,634.78 40,273.95 54,006.63 118,442.64 PRV.ST.LIGHTS 73,324.07 14,159.11 1,407.33 22,619.42 35,138.21 CO-OP RESALE 250,010.33 250,010.33 0.00 0.00 0.00 SCHOOL 1,045,354.32 384,853.64 210,368.25 135,688.69 314,443.74 TOTAL 50,301,247.77 10,823,621.12 3,504,398.11 9,435,822.55 26,537,405.99 PERCENTAGE OF OPERATING INCOME TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 42.15% 13.65% 5.42% 10.20% 12.88% INDUS/MUNI BLDG 54.39% 7.77% 0.70% 8.48% 37.44% PUB.ST.LIGHTS 0.62% 0.21% 0.07% 0.10% 0.24% PRV.ST.LIGHTS 0.14% 0.03% 0.00% 0.05% 0.06% CO-OP RESALE 0.52% 0.52% 0.00% 0.00% 0.00% SCHOOL 2.18% 0.78% 0.43% 0.28% 0.69% TOTAL 100.00% 22.96% 6.62% 19.11% 51.31% THIS YEAR TO DATE RESIDENTIAL 41.16% 12.93% 5.83% 9.60% 12.80% INDUS/MUNI BLDG 55.68% 7.48% 0.70% 8.66% 38.84% PUB.ST.LIGHTS 0.62% 0.22% 0.08% 0.10% 0.22% PRV.ST.LIGHTS 0.14% 0.03% 0.00% 0.04% 0.07% CO-OP RESALE 0.50% 0.50% 0.00% 0.00% 0.0096 SCHOOL 1.90% 0.68% 0.40% 0.25% 0.57% TOTAL 100.00% 21.84% 7.01% 18.65% 52.50% LAST YEAR TO DATE RESIDENTIAL 40.16% 12.50% 5.76% 9.26% 12.64% INDUS/MUNI BLDG 56.46% 7.50% 0.71% 9.07% 39.18% PUB.ST.LIGHTS 0.65% 0.22% 0.08% 0.11% 0.24% PRV.ST.LIGHTS 0.14% 0.03% 0.00% 0.04% 0.07% CO-OP RESALE 0.50% 0.50% 0.00% 0.00% 0.00% SCHOOL 2.09% 0.77% 0.42% 0.27% 0.63% TOTAL 100.00% 21.52% 6.97% 18.75% 52.76% (11A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED REVENUE VARIANCE REPORT 1/31/11 SCHEDULE F ACTUAL BUDGET YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE SALES OF ELECTRICITY: RESIDENTIAL 12,189,278.90 10,816,739.00 1,372,539.90 12.69% COMM AND INDUSTRIAL SALES PRIVATE STREET LIGHTING 14,249,902.61 12,769,552.00 1,480,350.61 11.59% MUNICIPAL BUILDINGS PUBLIC STREET LIGHTING 227,536.10 313,796.00 (86,259.90) -27.49% SALES FOR RESALE 141,175.57 149,084.00 (7,908.43) -5.30% SCHOOL 517,027.36 480,520.00 36,507.36 7.60% TOTAL BASE SALES 27,324,920.54 24,529,691.00 2,795,229.54 11.40% TOTAL FUEL SALES 25,147,934.40 24,462,178.00 685,756.40 2.80% TOTAL OPERATING REVENUE 52,472,854.94 48,991,869.00 3,480,985.94 7.11% FORFEITED DISCOUNTS 613,667.00 539,653.00 74,014.00 13.72% PURCHASED POWER CAPACITY 1,156,560.83 3,268,779.00 (2,112,218.17) -64.62% ENERGY CONSERVATION - RESIDENTIAL 81,833.64 71,584.00 10,249.64 14.32% ENERGY CONSERVATION - COMMERCIAL 229,315.47 252,193.00 (22,877.53) -9.07% GAW REVENUE 294,545.11 150,000.00 144,545.11 96.36% PASNY CREDIT (427,390.42) (350,000.00) (77,390.42) 22.11% TOTAL OPERATING REVENUES 54,421,386.57 52,924,078.00 1,497,308.57 2.83% * ( ) = ACTUAL UNDER BUDGET i TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING EXPENSES 1/31/11 SCHEDULE E MONTH MONTH LAST YEAR CURRENT YEAR YTD OPERATION EXPENSES: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE PURCHASED POWER BASE EXPENSE 2,387,788.41 2,243,845.82 16,448,359.66 16,386,717.23 -0.36% OPERATION SUPER AND ENGIN-TRANS 0.00 0.00 0.00 0.00 0.00% OPERATION SUP AND ENGINEERING EXP 32,242.67 33,668.76 232,433.66 270,214.05 16.25% STATION SUP LABOR AND MISC 15,096.47 8,859.23 41,649.35 63,125.29 51.56% LINE MISC LABOR AND EXPENSE 44,869.38 43,491.24 364,248.37 356,202.12 -2.21% STATION LABOR AND EXPENSE 31,162.93 29,842.11 _279,006.26 268,217.62 -3.87% STREET LIGHTING EXPENSE 3,968.58 7,599.92 28,866.40 50,440.26 74.74% METER EXPENSE 33,298.73 24,501.33 233,460.22 194,366.47 -16.75% MISC DISTRIBUTION EXPENSE 25,972.54 24,046.77 187,756.73 192,257.63 2.40% METER READING LABOR & EXPENSE 5,053.74 5,200.39 45,270.09 44,281.91 -2.18% ACCT & COLL LABOR & EXPENSE 103,448.09 103,201.55 796,956.55 756,901.41 -5.03% UNCOLLECTIBLE ACCOUNTS 12,500.00 15,000.00 87,992.92 105,000.00 19.33% ENERGY AUDIT EXPENSE 40,241.02 29,958.16 270,899.39 227,665.92 -15.96% ADMIN & GEN SALARIES 57,805.63 53,561.74 453,133.93 411,056.66 -9.29% OFFICE SUPPLIES & EXPENSE 23,920.94 16,735.90 152,575.06 158,667.29 3.99% OUTSIDE SERVICES 23,124.83 17,380.36 171,123.69 115,609.34 -32.44% PROPERTY INSURANCE 30,958.55 31,705.39 221,251.98 216,066.71 -2.34% INJURIES AND DAMAGES 5,932.50 3,290.35 35,288.80 24,576.49 -30.36% EMPLOYEES PENSIONS & BENEFITS 407,749.58 359,736.87 961,446.95 1,024,538.66 6.56% MISC GENERAL EXPENSE 12,874.97 7,131.58 94,446.52 92,735.53 -1.81% RENT EXPENSE 16,487.43 16,613.92 100,126.37 101,878.33 1.75% ENERGY CONSERVATION 29,897.52 30,485.20 209,869.30 276,232.80 31.62% TOTAL OPERATION EXPENSES 956,60E.10 862,010.77 4,967,804.54 4,950,034.69 -0.36% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT 227.08 227.08 1,589.58 1,589.60 0.00% MAINT OF STRUCT AND EQUIPMT 8,433.66 12,647.92 46,281.35 89,162.68 92.65% MAINT OF LINES - OH 110,608.95 122,388.06 635,387.31 800,529.41 25.99% MAINT OF LINES - UG 15,987.64 17,302.03 94,086.67 63,078.45 -11.70% MAINT OF LINE TRANSFORMERS ** 454,172.46 432,482.83 592,545.80 1,293,045.04 118.22% MAINT OF ST LT & SIG SYSTEM (31.54) (18.34) (88.67) (117.88) 32.94% MAINT OF GARAGE AND STOCKROOM 40,123.95 57,796.92 288,172.27 307,482.09 6.70% MAINT OF METERS 0.00 7,593.73 531.31 7,593.73 -100.00% MAINT OF GEN PLANT 8,146.63 5,175.06 54,909.85 57,547.90 4.80% TOTAL MAINTENANCE EXPENSES 637,668.83 655,595.29 1,713,415.47 2,639,911.02 54.07% DEPRECIATION EXPENSE 280,105.78 287,729.05 1,960,740.46 2,014,103.35 2.72% PURCHASED POWER FUEL EXPENSE 3,704,455.86 3,620,814.67 24,961,985.54 24,651,235.51 -1.24% VOLUNTARY PAYMENTS TO TOWNS 104,500.00 105,885.00 731,246.00 765,885.00 4.74% TOTAL OPERATING EXPENSES 8,071,124.98 7,775,880.60 50,783,551.67 51,409,886.80 1.23% ** FY 11 YTD total includes GAW soil remediation expenses totalling $1,240,767.78 Total costs to date for entire project is $2,337,199.58 (12) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 1/31/11 SCHEDULE G ACTUAL BUDGET OPERATION EXPENSES: YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE PURCHASED POWER BASE EXPENSE 16,388,717.23 16,393,147.00 (4,429.77) -0.03% OPERATION SUPER AND ENGIN-TRANS 0.00 0.00 0.00 0.0096 OPERATION SUP AND ENGINEERING EXP 270,214.05 255,621.00 14,593.05 5.71% STATION SUP LABOR AND MISC 63,125.29 48,430.00 14,695.29 30.34% LINE MISC LABOR AND EXPENSE 356,202.12 316,796.00 39,406.12 12.4496 STATION LABOR AND EXPENSE 268,217.62 247,722.00 20,495.62 8.27% STREET LIGHTING EXPENSE 50,440.26 38,823.00 11,617.26 29.92% METER EXPENSE 194,366.47 280,576.00 (86,209.53) -30.7396 MISC DISTRIBUTION EXPENSE 192,257.83 199,541.00 (7,283.17) -3.65% METER READING LABOR & EXPENSE 44,281.91 37,312.00 6,969.91 18.68% ACCT & COLL LABOR & EXPENSE 756,901.41 813,690.00 (56,788.59) -6.98% UNCOLLECTIBLE ACCOUNTS 105,000.00 105,000.00 0.00 0.00% ENERGY AUDIT EXPENSE 227,665.92 285,549.00 (57,883.08) -20.27% ADMIN & GEN SALARIES 411,056.66 445,407.00 (34,350.34) -7.71% OFFICE SUPPLIES & EXPENSE 158,667.29 162,358.00 (3,690.71) -2.279. OUTSIDE SERVICES 115,609.34 178,808.00 (63,198.66) -35.349,. PROPERTY INSURANCE 216,066.71 279,321.00 (63,254.29) -22.65% IN,TURIES AND DAMAGES 24,576.49 37,991.00 (13,414.51) -35.3196 EMPLOYEES PENSIONS & BENEFITS 1,024,538.66 757,256.00 267,282.66 35.30% MISC GENERAL EXPENSE 92,735.53 151,284.00 (58,548.47) -38.70% REM'- EXPENSE 101,878.33 123,669.00 (21,790.67) -17.62% ENERGY CONSERVATION 276,232.80 382,389.00 (106,156.20) -27.76% TOTAL OPERATION EXPENSES 4,950,034.69 5,147,543.00 (197,508.31) -3.84% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT 1,589.60 1,750.00 (160.40) -9.1756 MAINT OF STRUCT AND EQUIPMENT 89,162.68 110,935.00 (21,772.32) -19.63% MAINT OF LINES - OH 800,529.41 683,744.00 116,785.41 17.08% MAINT OF LINES - UG 83,078.45 110,932.00 (27,853.55) -25.11% MAINT OF LINE TRANSFORMERS ** 1,293,045.04 660,794.00 632,251.04 95.68% MAINT OF ST LT & SIG SYSTEM (117.88) 5,151.00 (5,268.88) -102.29% MAINT OF GARAGE AND STOCKROOM 307,482.09 421,352.00 (113,869.91) -27.02% MAINT OF METERS 7,593.73 2,236.00 5,357.73 239.61% MAINT OF GEN PLANT 57,547.90 77,000.00 (19,452.10) -25.26% TOTAL MAINTENANCE EXPENSES 2,639,911.02 2,073,894.00 566,017.02 27.29% DEPRECIATION EXPENSE 2,014,103.35 2,041,669.00 (27,565.65) -1.35% PURCHASED POWER FUEL EXPENSE 24,651,235.51 25,542,178.00 (890,942.49) -3.49% VOLUNTARY PAYMENTS TO TOWNS 765,885.00 770,000.00 (4,115.00) -0.53% TOTAL OPERATING EXPENSES 51,409,886.80 51,968,431.00 (558,544.20) -1.079' * ( ) = ACTUAL UNDER BUDGET ** FY 11 YTD total includes GAW soil remediation expenses totalling $1,240,767.78 Total costs to date for entire project is $2,337,199.58 (12A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 1/31/11 RESPONSIBLE REMAINING SENIOR 2011 ACTUAL BUDGET REMAINING OPERATION EXPENSES: MANAGER ANNUAL BUDGET YEAR TO DATE BALANCE BUDGET % PURCHASED POWER BASE EXPENSE JP 27,711,574.00 16,388,717.23 11,322,856.77 40.86% OPERATION SUPER AND ENGIN-TRANS KS 0.00 0.00 0.00 0.00% OPERATION SUP AND ENGINEERING EXP KS 441,828.00 270,214.05 171,613.95 38.84% STATION SUP LABOR AND MISC KS 85,205.00 63,125.29 22,079.71 25.91% LINE MISC LABOR AND EXPENSE KS 520,806.00 356,202.12 164,603.88 31.61% STATION LABOR AND EXPENSE KS 426,438.00 266,217.62 158,220.36 37.10% STREET LIGHTING EXPENSE KS 66,694.00 50,440.26 16,253.74 24.37°0 METER EXPENSE DA 482,771.00 194,366.47 288,404.53 59.74% MISC DISTRIBUTION EXPENSE JD 347,115.00 192,257.83 154,857.17 44.61% METER READING LABOR & EXPENSE DA 64,358.00 44,281.91 20,076.09 31.19% ACCT & COLL LABOR & EXPENSE RF 1,397,984.00 756,901.41 641,062.59 45.86% UNCOLLECTIBLE ACCOUNTS RF 180,000.00 105,000.00 75,000.00 41.67% ENERGY AUDIT EXPENSE JP 494,776.00 227,665.92 267,110.08 53.99% ADMIN & GEN SALARIES VC 776,849.00 411,056.66 365,792.34 47.09% OFFICE SUPPLIES & EXPENSE VC 278,100.00 158,667.29 119,432.71 42.95% OUTSIDE SERVICES VC 293,500.00 115,609.34 177,890.66 60.61% PROPERTY INSURANCE JD 478,900.00 216,066.71 262,833.29 54.889. INJURIES AND DAMAGES JD 64,805.00 24,576.49 40,228.51 62.08% EMPLOYEES PENSIONS & BENEFITS JD 1,188,607.00 1,024,538.66 164,068.34 13.809, MISC GENERAL EXPENSE VC 212,096.00 92,735.53 119,360.47 56.28% RENT EXPENSE JD 212,000.00 101,878.33 110,121.67 51.94% ENERGY CONSERVATION JP 643,730.00 276,232.80 367,497.20 57.09% TOTAL OPERATION EXPENSES 8,656,562.00 4,950,034.69 3,706,527.31 42.62% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT KS 3,000.00 1,589.60 1,410.40 47.01% MAINT OF STRUCT AND EQUIPMT KS 187,404.00 89,162.68 98,241.32 52.42% MAINT OF LINES - OH KS 1,199,735.00 800,529.41 399,205.59 33.27% MAINT OF LINES - UG KS 190,258.00 83,078.45 107,179.55 56.33% MAINT OF LINE TRANSFORMERS ** KS 693,500.00 1,293,045.04 (599,545.04) -86.45% MAINT OF ST LT & SIG SYSTEM JD 8,857.00 (117.88) 8,974.88 101.33% MAINT OF GARAGE AND STOCKROOM JD 676,532.00 307,482.09 369,049.91 54.559, MAINT OF METERS DA 3,875.00 7,593.73 (3,718.73) -95.970 MAINT OF GEN PLANT RF 132,000.00 57,547.90 74,452.10 56.40% TOTAL MAINTENANCE EXPENSES 3,095,161.00 2,639,911.02 455,249.96 14.71% DEPRECIATION EXPENSE RF 3,500,000.00 2,014,103.35 1,485,896.65 42.45% PURCHASED POWER FUEL EXPENSE JP 39,512,664.00 24,651,235.51 14,861,428.49 37.61% VOLUNTARY PAYMENTS TO TOWNS RF 1,320,000.00 765,885.00 554,115.00 41.98% TOTAL OPERATING EXPENSES 83,795,961.00 51,409,886.80 32,386,074.20 38.6596 ** FY 11 YTD total includes GAW soil remediation expenses totalling $1,240,767.78 Total costs to date for entire project is $2,337,199.58 (125) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT PROFESSIONAL SERVICES 1/31/2011 PROFESSIONAL SERVICES BY PROJECT ITEM DEPARTMENT ACTUAL BUDGET VARIANCE 1 RMLD AND PENSION TRUST AUDIT FEES ACCOUNTING 31,250.00 36,000.00 (4,750.00) 2 PENSION ACTUARIAL EVALUATION ACCOUNTING 6,000.00 0.00 6,000.00 3 LEGAL- FERC/ISO ISSUES ENERGY SERVICE 0.00 10,500.00 (10,500.00) 4 LEGAL- POWER SUPPLY ISSUES ENERGY SERVICE 5,820.51 28,000.00 (22,179.49) 5 PROFESSIONAL SERVICES ENERGY SERVICE 0.00 17,500.00 (17,500.00) 6 NERC COMPLIANCE E & 0 4,987.50 4,375.00 612.50 7 ENGINEERING STUDIES ENGINEERING 0.00 11,250.00 (11,250.00) 8 LEGAL SERVICES- GENERAL GM 59,978.09 29,169.00 30,809.09 9 LEGAL SERVICES- ARBITRATION HR 3,345.35 0.00 3,345.35 10 LEGAL GENERAL HR 1,297.55 24,500.00 (23,202.45) 11 LEGAL GENERAL BLDG. MAINT. 0.00 875.00 (875.00) 12 SURVEY RIGHT OF WAY BLDG. MAINT. 0.00 2,919.00 (2,919.00) 13 ENVIRONMENTAL BLDG. MAINT. 1,472.00 2,919.00 (1,447.00) 14 ENGINEERING SERVICES BLDG. MAINT. 0.00 4,970.00 (4,970.00) 15 INSURANCE CONSULTANT GEN. BENEFIT 1,458.34 5,831.00 (4,372.66) TOTAL 115,609.34 178,808.00 (63,198.66) PROFESSIONAL SERVICES BY VENDOR ACTUAL MELANSON HEATH & COMPANY PC 49,698.99 RUBIN AND RUDMAN 34,450.06 DUNCAN AND ALLEN 12,899.55 CHOATE HALL AND STEWART 4,442.90 UTILITY SERVICES INC. 4,987.50 AMERICAN ARBITRATION ASSOCIATION 200.00 COVINO ENVIRONMENTAL ASSOCIATES 1,472.00 ROMARRE INSURANCE 1,458.34 STONE CONSULTING INC. 6,000.00 TOTAL 115,609.34 (13) 2/21/2011 RMLD 10:57 AM BUDGET VARIANCE REPORT FOR PERIOD ENDING JANUARY 31, 2011 DIVISIONS AND DEPARTMENTS ACTUAL BUDGET VARIANCE CHANGE ENGINEERING AND OPERATIONS: E&O MGR 113,664 118,596 (4,932) -4.16% ENGINEERING 270,781 267,450 3,331 1.25% LINE 1,291,874 1,157,342 134,532 11.62% METER READING 44,282 37,314 6,968 18.67% METER TECHNICIANS 195,111 280,722 (85,610) -30.50% STATION OP 331,343 296,151 35,192 11.88% STATION TECHS 1,389,801 774,260 615,542 79.50% DIVISION TOTAL 3,636,858 2,931,835 705,022 24.05% ENERGY SERVICES DIVISION TOTAL 509,656 724,230 (214,574) -29.63% GENERAL MANAGER• GENERAL MANAGER 227,582 212,573 15,009 7.06% HUMAN RESOURCES 67,154 112,458 (45,304) -40.28% COMMUNITY RELATIONS 90,620 120,675 (30,055) -24.91% CAB 3,621 8,693 (5,072) -58.34% BOARD 3,664 4,875 (1,211) -24.83% DIVISION TOTAL 392,642 459,273 (66,632) -14.51% FACILITY MANAGER: GENERAL BENEFITS 1,408,552 1,261,244 147,309 11.68% BUILDING MAINTENANCE 309,029 433,033 (124,004) -28.64% MATERIALS MANAGEMENT 192,269 200,418 (81149) -4.07% DIVISION TOTAL 1,909,850 1,894,695 15,156 0.80% BUSINESS DIVISION: ACCOUNTING 439,472 462,295 (22,823) -4.94% CUSTOMER SERVICE 359,990 387,279 (27,290) -7.05% MIS 320,677 339,265 (18,588) -5.48% MISCELLANEOUS DEDUCTIONS 4,077,014 4,109,978 (32,964) -0.80% DIVISION TOTAL 5,197,153 5,298,817 (101,664) -1.92% DIVISION TOTALS 11,646,158 11,308,850 337,308 2.98% PURCHASED POWER - BASE 16,388,717 16,393,147 (4,430) -0.03% PURCHASED POWER - FUEL 24,651,236 25,542,178 (890,942) -3.49% TOTAL 52,686,111 53,244,175 (558,064) -1.05% RMLD DEFERRED FUEL CASH RESERVE ANALYSIS 1/31/11 GROSS MONTHLY TOTAL DATE CHARGES REVENUES PASNY CREDIT DEFERRED DEFERRED Jun-10 2,326,112.09 Jul-10 4,555,108.56 3,536,618.90 (98,501.74) (1,116,991.40) 1,209,120.69 Aug-10 4,151,871.47 3,658,721.48 (49,929.96) (543,079.95) 666,040.74 Sep-10 3,437,081.39 4,007,231.89 (52,662.99) 517,487.51 1,183,528.25 Oct-10 2,586,224.15 3,632,858.99 (62,298.35) 984,336.49 2,167,864.74 Nov-10 2,717,341.26 3,468,972.22 (32,335.11) 719,295.85 2,887,160.59 Dec-10 3,582,794.01 3,213,832.76 (71,724.91) (440,686.16) 2,446,474.43 Jan-11 3,620,814.67 3,629,698.16 (59,937.36) (51,053.87) 2,395,420.56 RMLD STAFFING REPORT FOR FISCAL YEAR ENDING JUNE, 2011 ACTUAL 11 BUD JUL AUG SEP OCT NOV DEC JAN TOTAL 10 10 10 10 10 10 11 GENERAL MANAGER GENERAL MANAGER 2 2 2 2 2 2 2 2 HUMAN RESOURCES 1.5 1 1 1 1 1 1 1 COMMUNITY RELATIONS 1.5 1 1 1 1 1 1 1 TOTAL 5 4 4 4 4 4 4 4 BUSINESS ACCOUNTING 2 2 2 2 2 2 2 2 CUSTOMER SERVICE 9 8 8 8 8 8 8 8 MGMT INFORMATION SYS 6 6 6 6 6 6 6 6 MISCELLANEOUS 1 1 1 1 1 1 1 1 TOTAL 18 17 17 17 17 17 17 17 ENGINEERING & OPERATIONS AGM E&O 2 2 2 2 2 2 2 2 ENGINEERING 5 5 5 5 5 5 5 5 LINE 20 19 19 19 19 19 19 19 METER 6 6 6 6 6 6 6 6 STATION 9 9 9 9 9 9 9 9 TOTAL 42 41 41 41 41 41 41 41 PROJECT BUILDING 2 2 2 2 2 2 2 2 GENERAL BENEFITS 2 2 2 2 2 2 2 2 TRANSPORTATION 0 0 0 0 0 0 0 0 MATERIALS MGMT 4 4 4 4 4 4 4 4 TOTAL 8 8 8 8 8 8 8 8 ENERGY SERVICES ENERGY SERVICES 6 6 5 5 5 5 5 5 TOTAL 6 6 5 5 5 5 5 5 RMLD TOTAL 79 76 75 75 75 75 75 75 CONTRACTORS UG LINE 2 2 2 2 2 2 2 2 TOTAL 2 2 2 2 2 2 2 2 GRAND TOTAL 81 78 77 77 77 77 77 77 i ATTACHMENT 2 To: Vincent Cameron From: Energy Services Date: February 15, 2011 Subject: Purchase Power Summary—January 2011 Energy Services Division (ESD) has completed the Purchase Power Summary for the month of January, 2011. ENERGY The RMLD's total metered load for the month was 62,489,658 kWh, which was an increase of 1.95 % compared to January, 2010 figures. Table 1 is a breakdown by source of the energy purchases. (W TABLE 1 Amount of Cost of %of Total Total$ $as a Resource Energy Energy Energy Costs % (kWh) ($/Mwh) Millstone#3 3,715,859 $5.86 5.94% $21,771 0.60% Seabrook 5,887,585 $8.84 9.41% $52,033 1.44% JP Morgan 9,288,000 $23.44 14.85% $507.955 14.03% Stonybrook 2,016,188 $251.94 3.22% $217.708 6.01% Constellation 7,440,000 $65.25 11.89% $485,424 13.41% PASNY 1,836,592 $4.92 2.94% $9,036 0.25% ISO Interchange 12,456,389 $65.75 19.91% $819,687 22.64% NEMA Congestion 0 $0.00 0.00% -$75,811 -2.09% Coop Resales 74,442 $132.19 0.12% $9,840 0.27% Stonybrook Peaking 56,597 $168.62 0.09% $9,543 0.26% MacQuarie 19,416,000 $77.78 31.03% $1,510,182 41.71% Braintree Watson Unit 375,308 $142.41 0.60% $53,446 1.48% Monthly Total 62,562,960 $57.87 100.00% $3,620,815 100.00% Table 2 Amount Cost % of Total Resource of Energy of Energy Energy (kWh) ($/Mwh) ISO DA LMP 8,361,245 36.94 13.36% Settlement RT Net Energy 4,095,144 124.56 6.55% Settlement ISO Interchange 12,456,389 65.75 19.91% (subtotal) Table 2 breaks down the ISO interchange between the DA LMP Settlement and the RT Net Energy for month of January, 2011. CAPACITY The RMLD hit a demand of 112,174 kWs, which occurred on January 24, 2011 at 7 pm. The RMLD's monthly UCAP requirement for January, 2011 was 20 ,111 kWs. Table 3 shows the sources of capacity that the RMLD utilized to meet its requirement. Table 3 Source Amount(kWs) Cost($/kW-month) Total Cost$ %of Total Cost Millstone#3 4,991 $62.16 $310,227 20.79% Seabrook 7,902 $56.62 $447,422 29.98% Stonybrook Peaking 24,981 $1.81 $45,322 3.04% Stonybrook CC 42,925 $3.15 $135,259 9.06% Pasny 0 $2.96 $11,896 0.80% HQICC 0 0 $22,305 1.49% ISO-NE Supply Auction 113,792 $3.61 $410,423 27.50% Braintree Watson Unit 10,520 $10.42 $109,635 7.35% Total 205,111 $7.28 $1,492,489 100.00% Table 4 Resource Energy Capacity Total cost %of Total Cost Millstone#3 $21,771 $310,227 $331,998 6.49% Seabrook $52,033 $447,422 $499,455 9.77% Stonybrook $217,708 $135.259 $352,967 6.90% HQ II $0 $22,305 $22,305 0.44% Constellation $485,424 $0 $485,424 9.49% PASNY $9,036 $11,896 $20,932 0.41% ISO interchange $819,687 $410,423 $1,230,110 24.06% Nema Congestion 475,811 $0 -$75,811 -1.48% Coop Resales $9,840 $0 $9,840 0.19% Stonybrook Peaking $9.543 $45,322 $54,866 1.07% Integrys $507,955 $o $507,955 9.93% MacQuarie $1,510,182 $0 $1,510,182 29.53% Braintree Watson Unit $53,446 $109,635 $163,081 3.19% Monthly Total $3,620,815 $1,492,489 $5,113,304 100.00% Table 4 shows the total dollar amounts for energy and capacity per source. TRANSMISSION The RMLD's total transmission costs for the month of January, 2011 are 5754,397. This is a 20.5% increase from the December 2010 cost of 5626,014. In 2010, the transmission costs for the month of January, 2010 were 5650,537. Table 5 Current Month Last Month Last Year Peak Demand(kW) 112,174 113,519 106,870 Energy(kWh) 62,562,960 62,045,389 61,393,989 Energy($) $3,620,815 $3,582,794 $3,704,456 Capacity($) $1,492,489 $1,514,780 $1,737,772 Transmission($) $754,397 $626,014 $650,537 Total $5,867,701 $5,723,588 $6,092,764 Table 5 shows the current month vs. last month and last year(January, 2010). ATTACHMENT 3 �rr 0) 0> 0 c c c .c .c .c 0 0 0 'E c c c O O O U U U (D () a) E E E N O Q) L L L UU U U) U) � 4? w ..(D_ N N � C C C L` m f`0 N N O N N O 2 .c- .E-C o 2a) m a) 2o C).d. 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N 0) M M Ort N (� L>L N M ti q O N O -------- --- ------------------ -------------- -------------- q M to N N N M t-- h- �- tl- > co O M N N N U 5 E L U Co O O LO 00 LO O O CO ti r LO N t6 CO ti O T O LO CO Lf) CO O ti O O � t` UJ 00 0 ti oo CO O t� O T O CV O O O O N O 0 0 0 0 0 0 0 ti L Q ------ ------------------ ------- ------ -------------- CD O L.''> Lf) L.7 Ln > q O 0) m O O M O 0 0 t4 N q q q C � � U O O O CD N r- LO Lo O O L..f) O -,t- CO Lo q q (D t- q Ln 00 O) O — lzt M (D M ti O MM "Z�- N ti N �- N — Ln O O N M N T O O O N 0 0 0 0 0 06 0 0 ------ ---- -------------------- ------------- DD -- ------------------ ------------q a) O T' O Q Q0 CD T T V N N N N N LL '1 J LI J W - J W O O 12� .- 'O .r a ca fn E— ;�' N O O U N J c6 r� Q) O Cc W C "� U J `� U J U � O d d U o o o f o o o o o 0 f— U a- Ir LL U a- 0-1 LL U a LL CL d 2117/2011 READING MUNICIPAL LIGHT DEPARTMENT 2:01 PM FY 11 CAPITAL BUDGET VARIANCE REPORT FOR PERIOD ENDING JANUARY 31,2011 ACTUAL YTD ACTUAL ANNUAL COST COST BUDGET # PROJECT DESCRIPTION TOWN JANUARY THRU 1/31/11 AMOUNT VARIANCE E&O Construction-System Proiects 1 4W14 Reconductoring-West Street W 234,470 234,470 2 4W14 Extension-Woburn Street W 157,958 157,958 3 Station#4 Getaway 4W17 Replacements(FY10 Budget) R 157,877 169,928 12,051 4 Boutwell Street W 37,559 84,205 125,955 41,750 5 Chestnut Street W 171,933 171,933 6 Haverhill Street-Reconductoring(FY10 Budget) R 1,499 102,575 100,534 (2,041) 7 URD Completions-Perkins Farm-Lynnfield NR,L 3,146 43,940 72,484 28,544 and Chestnut Village,North Reading(FY10 Budget) 8 Salem St.to Glen Rd. 13kV Feeder Tie(FY10 Budget) W 11,531 11,334 (197) 22 Wilmington-Main Street(FY10 Budget) W 30,834 34,975 4,141 33 4W4 Reconductoring(formerly Project 3) W 103,315 103,315 36 3W8 Salem Street&Baystate Road(formerly Project 6) R 19,478 49,028 207,439 158,411 37 Elm Street(Formerly Project 7) NR 11,821 129,405 132,011 2,606 Station Upgrades Station#4 38 115kV Insulator Replacement (formerly Project 8) R 33,935 51,543 144,323 92,780 9 115kV Disconnect Replacement R 87,975 87,975 11 Transformer Replacement Part 1 -Contractual Labor R 617,619 772,274 545,500 (226,774) Part 2-Procured Equipment R 7,162 30,000 22,838 Part 3-RMLD Labor R 9,035 102,061 64,324 (37,737) Part 4-Feeder Re-Assignment R 3,919 45,371 236,034 190,663 Station#5 23 15kV Circuit Breaker Replacement(Carryover FY10 Bud) W 125,552 158,731 33,179 New Customer Service Connections 12 Service Installations-Commercial/Industrial Customers ALL 13,873 44,594 55,055 10,461 13 Service Installations O/H&U/G-Residential Customers ALL 18,397 117,439 200,345 82,906 14 Routine Construction Various Routine Construction ALL 45,735 658,073 982,565 324,492 Total Construction Projects 816,015 2,533,463 4,027,188 1.493,724 Other Projects 15 GIS 12,125 20,000 7,875 16 Transformers/Capacitors Annual Purchases 23,975 228,708 190,167 (38,541) 17 Meter Annual Purchases 8,355 229,216 765,875 536,659 18 Purchase Two New Small Vehicles 64,000 64,000 19 Replace Line Department Vehicles 360,000 360,000 20 Purchase Pole Trailer 15,000 15,000 21 Upgrade Lighting Stockroom and Meter Room 3,798 22,400 18,602 24 Enlarge Parking Area and Construct Island 10,775 10,775 27 Hardware Upgrades 1,410 33,700 32,290 28 Software and Licensing 200 3,310 96,476 93,166 Total Other Projects 32,530 478,567 1,578,393 1,099,826 TOTAL RMLD CAPITAL PROJECT EXPENDITURES 848,545 3,012,030 5,605,581 2,593,551 29 Force Account/Reimbursable Projects ALL - - - TOTAL FY 11 CAPITAL PROJECT EXPENDITURES 848,545 3,012,030 5,605,581 2,593,551 completed projects Reading Municipal Light Department Engineering and Operations Monthly Report January, 2011 FY 2011 Capital Plan E&O Construction — System Projects 1. 4W14 Reconductoring — West Street — Wilmington — No activity. 2. 4W14 Extension — Woburn Street - Wilmington — No activity. 3. Station #4 Getaway 4W17 Replacements — Reading (FY10 Budget) — Project complete 4. Boutwell Street —Wilmington — Installed primary spacers; hung tri-blocks; spliced cable; installed cable; installed taps; performed transfers. 5. Chestnut Street — Wilmington — No activity. 6. Haverhill Street — Reading — Reconductoring - (FY1 O Budget) — Police detail. Project complete. 7. URD Completions — Parker/Perkins, North Reading — Conversion; changed taps on padmount transformers and connected section of loop to complete. 8. Salem Street to Glen Road 13 kV Feeder Tie — Wilmington — (FY10 Budget) — Project complete. 22. Wilmington — Main Street (FY 10 Budget) — Project complete. 33. 4W4 Reconductoring — Wilmington — No activity. 36. 3W8 Salem & Bay State Road — Reading — Engineering labor; installed messenger; framed and did make ready work for new spacer cable. 37. Elm Street — North Reading — Ground messenger and installed downground; framed for single phase; installed primary cable; performed transfers; underground switching. Substation Upgrade Projects 38. 115kV Insulator Replacement — Station 4 — Reading — Changed out insulators; linemen and senior techs labor. 9. 115kV Disconnect Replacement — Station 4 — Reading — No activity. 1 11. Transformer Replacement — Station 4 - Reading Part 1 — Contractual Labor— Fischbach and Moore applications for payment. Part 2 — Procured Equipment — Part 3 — RMLD Labor— Senior techs labor. Part 4 — Feeder Re-Assignment — Underground work; switching and phasing. 23. 15kV Circuit Breaker Replacement — No activity. New Customer Service Connections 12. Service Installations — CommerciaOndustrial Customers— This item includes new service connections, upgrades, and service replacements for the commercial and industrial customers. This represents the time and materials associated with the replacement of an existing or installation of a new overhead service, the connection of an underground service, etc. This does not include the time and materials associated with pole replacements/installations, transformer replacement/installations, primary or secondary cable replacement/installations etc. This portion of the project comes under routine construction. New commercial services in January include 50 Concord Street, Wilmington and Brown's Crossing, Wilmington. 13. Service Installations — Residential Customers — This item includes new or upgraded overhead and underground services, temporary overhead services, and large underground development. 14. Routine Construction — The drivers of the Routine Construction budget category YTD are listed. This is not an inclusive list of all items within this category. Pole Setting/Transfers $153,191 Maintenance Overhead/Underground $216,222 Projects Assigned as Required $33,683 Pole Damage includes knockdowns some reimbursable $28,470 Station Group $9,709 Hazmat/Oil Spills $0 Porcelain Cutout Replacement Program $22,607 Lighting (Street Light Connections) $25,361 Storm Trouble $7,906 Underground Subdivisions $42,948 Miscellaneous Capital Costs $117,975 TOTAL $658,073 *In the month of December, 14 cutouts were charged under this program. Approximately 21 cutouts were installed new or replaced because of damage making a total of 35 cutouts replaced this month. Reliability Report Two key industry standard metrics have been identified to enable the RMLD to measure and track system reliability. A rolling 12-month view is being used for the purposes of this report. Customer Average Interruption Duration Index (CAIDI) — Measures how quickly the RMLD restores power to customers when their power goes out. CAIDI = Total of Customer Interruption Duration for the Month in Minutes/ Total number of customers interrupted. RMLD 12 month system average outage duration — 48.92 minutes RMLD 4 year average outage (2006-2009) — 50.98 minutes per outage On average, RMLD customers that experience an outage are restored in 48.92 minutes. 80.00 70.66 70.00 -�SzQ5 -- - .- 63.38 60.54 c 60.00 RA Q/ 52.59 a� 50.00 — - - — - - - - - -- - -- - - - - ;.60 39.13 40.00 - - O 30.00 -- - 5.CD - i 1 . 20.00 a- -- - - U 10.00 0.00 eV, —�—Monthly minutes per outage --- RMLD 12 month system average outage duration 48.92 RMLD 4 year average outage duration 50.98 (2006-2009) �r 3 System Average Interruption Frequency (SAIFI) — Measures how many outages each customer experiences per year on average. SAIFI = Total number of customer's interrupted /Total number of customers. RMLD 12 month system average - .63 outages per year RMLD 4 year average outage frequency - .82 The graph below tracks the month-by-month SAIFI performance. 1.80 - 1.56 y 1.60 m 1.40 1.20 .� 1.12 1.13 � c c 1.00 Q 7n 0.80 0.60 31 0.35 - _ 0.54 _ 0.40 0 L LL 0.20 0.11 0.12 0.00 �e`o 0 RMLD monthly outage frequency — - - RMLD 12 month system average outage frequency .63 RMLD 4 year average outage frequency .82 (2006-2009) Months Between Interruptions (MBTI) Another view of the SAIFI data is the number of months Reading customers have no interruptions. At this time, the average RMLD customer experiences an outage every 19.05 months. 4 , « e ■ r _ ; ® ` 0w - Me ; ` � ) } ) ) ) \ \ � ) � \ ) ) � ( } c 0 10 § { ( ) 7 ` f � i ` § 27 ® f ! i � | 7 � j f } � \ \ I 74AM \ ( §a= 4l. r= §§ § 2)/ 2§§ §2t )2g §K)ip _ k: 2 0\0 j 2§( §lo in 'IQ A§£ §§ kk ))k §§ }\ 7 § } § �r2 ,m' ®' 3 ■ �a2 �s �� I � | / Page 1 of 1 Jeanne Fob From: Vincent Cameron I%W Sent: Monday, January 24, 2011 1:59 PM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Foumier; Mark Uvanni; Lee Ann Fratoni; Jeanne Foti Subject: Account Payable Questions - January 21 Snyder 1. AT+T- Perhaps we should get rid of the 800#, there were no calls + it seems to get late charges + there's many cell phones. I will look into the 800 number. 2. JCM Realty -Why doesn't electric total match what is on bill? (+ shouldn't we be paying on time to get our discount?) JCM pays the discounted amount on RMLD bills. We reimburse them for 66% of the electric cost. The amount for the electric bill represents the discounted amount for each bill ((920.53+43.18)*.66)=636.05. 0 2/15/2011 i Jeanne Fob From: Vincent Cameron Sent: Monday, January 31, 2011 9:07 AM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Kevin Sullivan; Lee Ann Fratoni; Jeanne Foti Subject: Account Payable Questions 1-31-11 Snyder 1. WESCO -2 invoices for 4 flood lights dated the same day-were these separate shipments? (invoice 29003 + 29005) These are two separate streetlight orders with the same invoice date. The RMLD PO 11-E00173, which is attached to WESCO invoice 290025, states the order was placed on 11/24/10 for four 400 watt floodlights. RMLD PO 11-E00243, which is attached to WESCO invoice 290023, states the order was placed on 12/17/10 for twenty 400 watt floods in addition to 50 watt and 100 watt streetlights. 1/31/2011 Jeanne Fob From: Vincent Cameron Sent: Monday, February 14, 2011 9:59 AM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Jane Parenteau; Joe Donahoe; Lee Ann Fratoni; Jeanne Foti Subject: FW: Account Payable Questions -2/7 and 2/14 Hahn 1. Office Team -Why did we need these services? We are short handed in Facilities and need temporary help. This is the company we contracted with to supply the temp. help. Snyder 1. Century- Is the new"e-pay"the Board approved a few months ago going to replace this? + When will that begin? In March. 2. Reading Sq. Auto body-What happened to this vehicle? The truck hit a front loader during snow plow operations. 3. P.O. Question - Shouldn't PO's be done prior to the work? + one of 2 of 2 Stoneham Motor PO indicator created 1/26 signed 1/25. Sometimes the work is estimated and performed and the PO is cut. The PO was dated 1/26 incorrectly. It should have been 1/25. It has been corrected. Snyder 1. MMWEC-Why does the remittance cost indicate "VOID VOID VOID VOID under wire transfer? + Totals in attachment(last 2 pgs)don't match billings? This occurs because there is no address on the front page. Void, void void is where the address would go. There are two payments for the Power Sales Agreements. One is for$229,023.59 for the Peaking and Intermediate Projects and is sent to the MMWEC Zero Balance Account. The other payment is $827,178.80, and sent to the MMWEC Trustee Revenue Fund Account for the Millstone/Seabrook Projects. The difference between the two payments is that there are outstanding bonds for the Millstone/Seabrook projects. 2. Cameron - I thought we signed off on the table skirt last week? Is this another one? A Board Member signed off on the weekend of 2,15-6/11. It was then put into the payables for this past week. There are checks and balances in the RMLD accounts payable process that prevent a bill from being paid twice. 2/114,2011 Excerpt from E-Mail from Reading Resident and Town Meeting Member Dave Talbot to Commissioner Mary Ellen O'Neill February 21, 2011 "Three ideas: 1. Electric water heaters. I would love to see RMLD wage a campaign to banish the electric-powered hot water heater from the district Of course you'll never get rid of all of them. But they are responsible for four to five times as much CO2 emissions than just directly using gas.(As you know there are huge system losses involved in producing electricity from fossil fuels- mainly at the power plant, where 60 to 70 percent of the energy goes up the chimney as waste heat. In a house,that heat would be directly heating the water.) I would guess that electric water heaters make up a noticeable fraction of all load in the RMLD's zone. Maybe 5 or 10 percent? Do you have this data? Anyway,people who have electric water heaters should switch to gas heaters -- ideally tankless ones - and it would be worth offering extra subsidies to achieve this goal. People who don't have available gas service would ideally be offered RMLD- amortized programs to install solar hot-water heaters. These are not photovoltaics -just black boxes on roofs. Yes they cost$10,000 or more to put in. But then they save$40 or more a month in electricity,forever- 20 year payback or thereabouts. Why not get RMLD involved in a revolving loan fund? You could really get rid of � many thousands of electric hot-water heaters in the zone and see a measurable drop in load. This is the kind of highly specific program that RMLD could embark on -starting with a survey of residents to see who has electric hot water heaters,specific subsidy programs to get rid of them. 2. A/C Compressors. Of course,the other big one would be to get control of people's central A/C compressors - offer incentives that you can shut them down for 30 minutes on a revolving bagis during those horrible peak hours in July and August With smart meters and switches and incentives,it can be done. Those monsters chew up huge amounts of electricity,as you well know. And if you can do this kind of"peak shaving"then you don't need to add capacity, and the power-producers maybe don't need to switch on peaking plants. 3. Streetlights Do we really need these bright sodium lights everywhere? Why don't we get rid of every other light? What's the evidence for safety? I've heard that streetlights were installed in many places simply to provide a way to keep power plants from having to shut down at night.