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Board Highlights JAN U ARY

The Regular Meeting of the Board of Directors of Powder River Energy Corporation was called to order at 1:05 p.m. on Monday, January 16, 2012 in Sundance by President Tom L. Davis. The meeting was recessed at 6 p.m. on January 16, 2012, and was re-convened at 8:30 a.m. on January 17, 2012 by President Davis. Financials System sales for November 2011 are down compared to November 2010. The board will attend four CFC training sessions in 2012.

Board Highlights

Safety The safety minutes for the December 2011 safety meetings were approved. CEO Report CEO Easley reported that PRECorp is sponsoring the Eggs and Issues Breakfast February 1, 2012, in Gillette. Representatives from PRECorp will attend. The WREA will be monitoring bills relative to PRECorp during the 2012 legislative session. CEO Easley reviewed the 2011 Balanced Score Card and TeamShare programs with the Board.

Sr. VP Penning reported Gary Kipp has been supervising crews during a vacancy in the VP of System Operations. VP Davis reported that a contractor was being sought to use equipment to test PRECorp facilities. General Information CEO Easley and Board members Tom Davis, Philip Habeck and Dave Hoyt will meet with the USFWS in Casper on February 9, 2012. The board approved the CEO recommendation for restructuring of the PRECorp organization for 2012. VP Wilson updated the Board on the correspondence with cellular vendors and the potential usage of PRECorp system. Manager of Business Support Services Peter Rossi reviewed enhancements to the Co-op Connections Card for PRECorp’s member-

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ship in 2012. The Board discussed the savings this provided to those members who do not have insurance available as a way of reducing costs. Approved Items • The Board accepted the bid for the Wright East Three Phase Rebuild • The Board approved the low bid for the Pole Change Out Construction Agreement • The Board accepted the bid for the Ballard Petroleum – Wildhorse Field Line Extension project • The Board voted to cancel the Empire Substation Project. Guests to the Meeting: Juanita Van Vlerah, Justin Schulz of Schulz Consulting, PRECorp employees Peter Rossi, Curtis Mock, Karri Blasi, Betty Finn, Clark Hendrickson, and Elizabeth Nisley.

Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp. Executive Staff Reports VP Mills presented the 2012 Harassment Awareness Plan that was developed. VP Schloredt reported that her department had received approximately $2,000 in capital credit checks to be donated to the PRECorp Foundation.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights F E BR U ARY

The Regular Meeting of the Board of Directors of Powder River Energy Corporation was called to order at 9:34 a.m. on Tuesday, February 21, in Gillette, by President Tom L. Davis. The board attended a CFC training session Monday, February 20, in Gillette.

Safety The safety minutes for the January 2012 safety meetings were approved.

Executive Staff Reports Deputy GM/COO Penning reported on the progress of management teams under the recent restructuring of Operations. HR Officer Brian Mills reported on the re-visioning process. CIO Wilson updated the Board on the status of the mobile radio system. Sr. VP Schloredt reported on the status of payment arrangements in Member Service.

CEO Report CEO Easley will attend meetings with the Wyoming PSC and the Legislative dinner for the Wyoming Business Alliance. CEO Easley will continue to serve on the WIA Board. Preparations are underway for the upcoming Legislative Summit in Washington, D.C.

General Information CEO Easley and Board members Tom Davis, Philip Habeck and Dave Hoyt met with the USFWS in Casper. President Davis reported PRECorp will continue to communicate with the agency on the Avian Protection Plan. CEO Easley reviewed the metrics

Financials System sales for December 2011 are down 1.7 percent compared to December 2010.

Board Highlights

Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp.

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that have been highlighted for the 2012 Balanced Score Card program. Austin Harley, Newcastle High School, was selected as PRECorp’s recipient of the Basin Member Scholarship, and Jeremy Adams, Sundance High School, is the alternate. Adam Croft, Sundance High School, was selected as the Basin Employee Scholarship candidate. Some PRECorp directors attended the WREA Legislative Reception February 15 in Cheyenne. Approved Items • The Board authorized the West Fiddler Redesign project. • The Board approved policy changes upon recommendation of the Policy Committee. • The Board approved carryover of capital funds for the 2011 Retrofitting project. Guests to the Meeting: PRECorp employees Gary Kipp, Kristin Kelly, Ray Miner and Elizabeth Nisley.

Photo by Tim Velder/PRECorp Marketing Communications

PRECorp Board Member Reuben Ritthaler, left, discusses financial issues at a CFC training Monday, Feb. 20.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights MAR C H

The Regular Meeting of the Board of Directors of Powder River Energy Corporation was called to order at 9:30 a.m. on Tuesday, March 20, 2012, by President Tom Davis. Financials System sales for January 2012 are down 0.9% compared to January 2011. Safety The safety minutes for the February 2012 safety meetings were approved. Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp.

The Board reviewed the March 1 All-Team Meeting results. CEO Easley discussed areas of opportunity that came out of the results. An employee focus group has been developed to address those areas. The annual WY PSC update was held on February 24 in Cheyenne.

General Information The following members were appointed to the Board of Directors Nominating Committee: Bob Tarver and Kent Terry, Campbell County; Ed Foust and Fred Carr, Johnson County; and Bill Engle and Lynn Jespersen, Weston County.

Executive Staff Reports CFAO Kanode reported a refinancing application had been made to the WY PSC. HRO Mills will review policies with the Policy Committee in the near future. CIO Wilson reported the mobile radio system site acquisition is moving forward. Sr. VP Schloredt reported on Member Services meter audits. COO Penning reported on contract work. Gary Kipp reported on the maintenance crews as well the new SCADA system.

Approved Items • The Board accepted the bid for the Mader Rebuild Project. • The Board approved the bid for the Young Creek Project. • The Board accepted the bid for the Larson Rebuild Project. • The Board voted to advance the Pine Haven, Hauber Conversion Part 1, and the Newcastle Pole Replacement projects.

Board Highlights

CEO Report CEO Easley reported on the NRECA Annual Meeting. He represented the Cooperative as a voting delegate.

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Guests to the Meeting: Guests to the meeting were PRECorp employees Gary Kipp, Ray Miner and Elizabeth Nisley.

Photo by Tim Velder/PRECorp

PRECorp CEO Mike Easley addresses PRECorp employees during the company’s All-Team Meeting March 1, 2012. SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights AP R I L

The Regular Meeting of the Board of Directors of Powder River Energy Corporation was called to order in Sundance at 9:35 a.m. on Tuesday, April 17, 2012, by President Tom Davis. Financials System sales for February 2012 are up 0.7% compared to February 2011. Safety The safety minutes for the March 2012 safety meetings were approved. Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp.

General Information CIO Wilson reported on the 2012 Balanced Scorecard Metrics.

Board Highlights

CEO Report CEO Easley reported on a PSC case, the Employee Focus Group charter, rate structure, stranded investment and a strategic retreat planned for August.

Executive Staff Reports CFAO Kanode reported on CBM retirement funds. HRO Mills will review policies with the Policy Committee in the near future. CIO Wilson reported the board tablet project is almost complete. He also reported the mobile radio system site acquisition is moving forward. Sr. VP Schloredt reported on Member Services meter audits and verifications. Sr. VP Davis reported on a rightof-way compensation reimbursement. COO Penning reported on PRECorp Foundation activities and events. Gary Kipp reported on the fault identification equipment for linemen to pinpoint fault locations.

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The next CFC Financial Training workshop will be held June 18 in Gillette. The Board discussed an incident where a pole had been damaged due to a driver being forced off of the road. Approved Items • The Board reappointed Tina Croell to the PRECorp Foundation Board of Directors. • The Board approved the initiation of the Keyhole Tie Line Project. • The Board approved an increase in coverage for the commercial umbrella insurance. Guests to the Meeting: Guests to the meeting were PRECorp employees Gary Kipp, Randy Cornella, Betty Finn, Curtis Mock, Hoby Hughes, Danea Crowder, and Elizabeth Nisley.

Photo by Tim Velder/PRECorp

PRECorp District Foreman Duffy Buresh monitors the substation control panel during a SCADA demonstration in Sundance. SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights MAY The Regular Meeting of the Board of Directors of Powder River Energy Corporation was called to order at 9:30 a.m. Tuesday, May 14, 2012, by President Tom L. Davis. Walt Christensen was absent from the meeting. All other directors were present, with Reuben Ritthaler arriving at 1 p.m. and Paul Baker departing at 1:34 p.m. Financials System sales for March 2012 are down 0.4% compared to March 2011. Safety The minutes for the April 2012 safety meetings were approved. Legal Report Attorney Mark Hughes was not available to discuss legal issues relevant to PRECorp.

CEO Report CEO Easley reported on outreach efforts with fellow cooperatives, The NRECA Grassroots Summit, and Employee Focus Group initiatives. CEO Easley facilitated an Energy Policy workshop with representatives from Wyoming’s energy and conservation sectors on May 24. CEO Easley introduced members of Scenario Building Teams that were assembled as a part of the Strategic Planning process. Executive Staff Reports VP Davis reported that no request has been made for a tap on the 230kV to serve the Sundance area. A consultant has begun work on the potential re-route of the railroad around Sheridan. HRO Mills reported the Foreman position in Gillette has been filled

by Wayne Pollat. Phone interviews have been conducted with three candidates for the VP of Operations. CIO Wilson reported on the discussions with Union Wireless. VP Schloredt reported on the status of past-due accounts. COO Penning reported the closeout is complete and the last payment made on the Hubbel suspension clamp failure. General Information Steve Eliason reported on the final aspects of the Smart Grid installation. The work is essentially complete; however, he will continue to provide reporting of required documents to follow the requirements of the grant award. Approved Items •

Board Highlights

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The Board awarded pole testing contracts to Osmose and Interpole (non-destructive). The Board approved the purchase of mobile personal computers for field crews. The Board authorized commencement of Sundance Voltage Conversion Phase II, Windy Ridge URD Replacement, and the Skull Creek Tie Line projects. The board assigned line relocation for Gillette Northern Drive to a contractor.

Guests to the Meeting:

Photo by Tim Velder/PRECorp

From left, PRECorp Journeyman Lineman Levi Gossard, District Foreman Mike Bingham, and Journeyman Lineman Matt Lawson assist as Apprentice Lineman Kyle Broderson uses a digger truck to lift and set a pole on a line extension project northeast of Buffalo.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

Guests to the meeting were PRECorp employees Darla Mouat, Deb Hougham, Tracy Jones, Mark Allison, Marci Borzenski, Jeremiah Bucholz, Ray Follum, Levi Dunn, Peter Rossi, Steve Eliason, Gary Kipp, Curtis Mock, and Elizabeth Nisley. SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights JU N E

The Regular Meeting of the board of Directors of the Powder River Energy Corporation was called to order at 9:34 a.m., Tuesday, June 19, 2012, by President Tom Davis. All directors were present. Financials YTD system sales through April 2012 were down 2.2% compared to YTD April 2011. Safety The safety minutes for the May 2012 safety meetings were approved.

Board Highlights

CEO Report CEO Easley shared the second of the Scenario Building Teams developed as a part of the Strategic Planning process. The Board viewed the Low Certainty/High Impact presentation. PRECorp has been invited to a July 11 Federal Reserve meeting in Gillette. CEO Easley met with Beartooth officials to continue to look for areas of mutual opportunity. The strategic planning retreat is planned for August.

CIO Wilson updated site projects. Sr. VP Schloredt reported on PRECorp sponsorships and events and PRECorp Foundation fundraisers. COO Penning reported on subcontractor safety; a lightningcaused fire and an arrestor replacement initiative. Transformers at the Dillinger Substation were taken off-line to inspect for methane gas buildup. The mobile unit is installed as a backup until rebuilt transformer is installed. Resin insulators are degrading and causing faults on the system. Up to 35 have been replaced so far. General Information Joy Voiles and Kathleen Holcroft discussed a recent disconnect of a large number of accounts for a single company. This affected members by shutting off their wa-

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ter pumps to their stock wells that were powered through the one member-company’s meters. Members should give heightened awareness toward side deals for stock well pumping with companies who might have power interruptions. Approved Items • Board members selected 12 students and 6 alternates for the PRECorp Scholarships • Relocation study for the Teckla and Porcupine substations • Upton Voltage upgrade Phase 1, Part 2 Guests to the Meeting: Guests to the meeting were PRECorp employees Curtis Mock, Libby Nisley, and Gary Kipp; and members Kathleen Holcroft and Joy Voiles; and Beartooth Electric Cooperative Director Dick Nolan.

Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp. Executive Staff Reports CFAO Kanode reported HD Supply suffered a theft of $50,000 in copper wire in a June 4 incident. The matter remains under investigation. Sr. VP Davis reported talks continue for Sundance interconnect, Rare Earth Elements, ONEOK projects, and MITZ Mobile Integrated Substation.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

Photo by Tim Velder/PRECorp Marketing Communications

PRECorp line crews from Moorcroft install a mobile substation in June as a backup at the Dillinger Substation until a rebuilt transformer is installed.

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights J U LY

The Regular Meeting of the board of Directors of the Powder River Energy Corporation was called to order at 9:35 a.m., Tuesday, July 17, 2012, in Sundance, by Vice-President Walt Christensen. All directors were present, except for President Tom Davis. Financials YTD system sales through May 2012 were down 3.3% compared to YTD May 2011. Safety The safety minutes for the June 2012 safety meetings were approved. CEO Report CEO Easley shared the third of the Scenario Building Teams developed as a part of the Strategic Planning process. The Board viewed the High Certainty/High Impact presentation.

Mobile Radio Upgrade: Manager of System Operations Support Services Steve Eliason reported the project is 47% complete. Manager of Financial Planning Curtis Mock presented tentative times for the rescheduled CFC training Mark Hefner with the Palladium Group was present to discuss the summary of interviews with Board Directors and Executive Staff. Goals, vision, challenges/concerns, strategic themes/initiatives, objectives, and perspectives were discussed. A Strategic Retreat will be held on August 6-7.

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Approved Items • Project commencement for Mader Rebuild Phase II • New telecommunications sites at Clareton and Mt. Pisgah • North Antelope Rochelle Mine 230 kV Line Relocation • APP Retrofit Contracts • Ulrich Hawken Sub lease Guests to the Meeting: Guests to the meeting were Mark Hefner/Palladium Group, and PRECorp employees Deanna Steele, Darla Mouat, Marci Borzenski, Mark Allison, Gary Kipp, Peter Rossi, Tim Velder, Curtis Mock, and Karri Blasi.

Board Highlights

Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp. Executive Staff Reports HRO Mills gave an update on personnel. CIO Wilson provided a Quarterly Update to the Balanced Scorecard. Sr. VP Schloredt reported on PRECorp scholarships and county fair schedules. CEO Easley, and board members Tom Davis and Paul Baker will comprise a committee to continue discussions with Beartooth Electric. General Information Laura Ladd with Hewitt Ladd, Inc. was present to discuss the Renewable Energy Credit Allocation Strategy.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

PRECorp line crews cool off a pole during a fire west of Sundance.

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights AU GU ST

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The Regular Meeting of the Board of Directors of the Powder River Energy Corporation was called to order at 9:34 a.m., Tuesday, August 21, 2012, in Gillette, by President Tom Davis. All directors and executive staff were present.

CEO Report CEO Easley and Director Don Hamm reported on the meeting with the Campbell County Public Land Board in regards to service to the Cam-Plex. CEO Easley updated the board on cooperative outreach efforts.

ogy update and information on department staffing. Sr. VP Schloredt reported on current account matters. VP System Operations Mike Pommarane reported on broken perch guards on power poles.

Financials YTD system sales through June 2012 were down 3.7% compared to YTD June 2011.

Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp.

General Information Manager of Line Operations Gary Kipp reported on inspections of transformers and insulators on the PRECorp system. Four employees will attend a leadership summit. A Strategic Retreat was held on August 6-7. The board approved final documents related to the retreat. The 2013 budget schedule was presented. Ray Miner reviewed the 2012 Physical Inventory Report.

Safety The safety minutes for the July 2012 safety meetings were approved.

Executive Staff Reports HRO Mills gave an update on personnel and the Employee Opinion Survey. CIO Wilson provided a technol-

Board Highlights

Approved Items • APP Retrofit WO 120518 Contract • Acme Substation Line Retirement Contract Approval • Clear Creek Change Order Request was denied pending further reivew • Annual margin allocations calculation will be based on revenues as determined by Generally Accepted Accounting Principles

Photo by Tim Velder/PRECorp Communications

A raptor flies above PRECorp power lines near Devils Tower National Monument.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

Guests to the Meeting: Guests to the meeting were PRECorp employees Peter Rossi, Steve Eliason, Gary Kipp, Ray Miner, Curtis Mock, and Elizabeth Nisley.

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights SE P TE MBE R

The regular meeting of the Board of Directors of Powder River Energy Corporation was called to order at 9:35 a.m. Tuesday, September 18, 2012, at the Sheridan Inn, by President Walt Christensen. All directors were present.

NOTE: During the annual reorganizational meeting of the board, Walt Christensen was elected president, Paul Baker vice-president and Philip Habeck secretary-treasurer.

Board Highlights

Financials YTD system sales through June 2012 were down 2.6% compared to YTD July 2011.

Safety The safety minutes for the August 2012 safety meetings were approved. CEO Report CEO Easley updated the board on cooperative outreach efforts. He reviewed talks with other electric cooperatives from southern Montana. Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp. Attorney Hughes reviewed the changes that were suggested by the Bylaw Committee regarding Class C membership.

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Executive Staff Reports HRO Mills gave an update on personnel. General Information Peter Barron Stark reviewed the 2012 Employee Opinion Study results with the Board. Overall the results were up 2.9% from 2011. The 2013 PRECorp Annual Meeting will be held Saturday, August 24, in Hulett. CEO Easley reminded the Board of the CFC Training that will be held on October 15 in Gillette. Steve Eliason reviewed the progress of the 42 initiatives that are scheduled for completion in 2012. Manager of Financial Planning Curtis Mock reviewed the updated timeline for the 2013 Budget. The Budget Committee Meeting is set for October 29, 2012. Approved Items • Hawken ONEOK Project • Keyhole Conversion Project Initiation • Reappointed Julie Swanda to another term on the Foundation Board of Directors • Line retirement and line rebuild contracts • Canceled the Clear Creek Circuit 3 project • Avian retrofit contracts

Photo by Tim Velder/PRECorp Communications

PRECorp Apprentice Lineman Jace Romrell attaches a coiled marker to a transmission line north of Gillette to alert migrating geese of power lines in the flight path.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

Guests to the Meeting: Guests to the meeting were PRECorp employees Steve Eliason, Gary Kipp, Curtis Mock, John Tieman, Kristin Kelly and Tim Velder. Also attending portions of the meeting were Peter Barron Stark and representatives of Fergus Electric Cooperative, Bob Evans, Scott Sweeney, David Dover, Terry Frost, and Paul Descheemaeker.

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights OC TOBE R

Call to Order: The Regular Meeting for the Board of Directors of Powder River Energy Corporation was called to order at 9:32 a.m. Tuesday, October 16, 2012, in Sundance by President Walt Christensen. All directors were present, except for Dave Hoyt. Financials YTD system sales for August 2012 were down 4.0% compared to YTD August 2011. Safety The safety minutes for the September 2012 safety meetings were approved.

Board Highlights

CEO Report CEO Easley reported on the Region 7 NRECA Managers meeting, the Blanchard Summit. The NRECA meeting topics were focused on member engagement, benefits, accounting procedures, and other initiatives. CEO Easley introduced employees who attended the Blanchard Summit. The employees commented on their experiences at the event.

Photo by Rick Gill/PRECorp Operations

PRECorp Journeyman Lineman Lyle Durfee repairs an outage near Sundance at sunset.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp. Attorney Hughes reviewed the changes that were suggested by the Bylaw Committee regarding Class C membership. The board will consider formal adoption of these changes at its December 18 meeting in Sheridan. Discussion and vetting of cooperative outreach opportunities with southern Montana cooperatives is ongoing. Proposals are progressing, but slowly. Options were reviewed regarding

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

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electrical service to the Cam-Plex facility. The Board’s Policy Committee meeting will be held on Monday, November 19. Executive Staff Reports HRO Mills gave an update on personnel. General Information The Balanced Scorecard review showed 15 of 28 initiatives being met. Some of the metrics are close to being met or hitting target numbers. Cost savings through October is at $233,737. Larry Lane of Schmidt and Company delivered the audit letter to the directors. The letter stated there were no changes or difficulties encountered during the annual audit. He said the financial reports are a fair representation of the financial position of PRECorp. Approved Items • Approved retirement of 40% of 2011 Capital Credits and 60% from 1983. • Combined Avian Retrofit Project #2 • Combined Avian Retrofit Project #3 Guests to the Meeting: Guests to the meeting were PRECorp employees Curtis Mock, Libby Opstedahl, Peter Rossi, Gary Kipp, Hoby Hughes, Karri Blasi, Tim Velder, Hazel Smith, and Sandi Wagaman; and Blanchard Summit attendees Marci Borzenski, Travis Roti, Missy Biegler, and Rick Gill; PRECorp auditor Larry Lane.

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights N OVE MBE R Call to Order: The Regular Meeting for the Board of Directors of Powder River Energy Corporation was called to order at 9:31 a.m. Tuesday, November 20, 2012, in Gillette by President Walt Christensen. All directors were present, except for Mike Lohse. CEO Report CEO Easley discussed the Wyoming Business Council Renewable Energy Credit Initiative and Basin’s mid-year allocation of renewable energy credits. CEO Easley has been working on a member engagement strategy and how we most effectively interact with the membership.

Board Highlights

Executive Staff Reports HRO Mills gave an update on policy changes.

Financials YTD system sales for September 2012 were down 4.5% compared to YTD September 2011. Safety The safety minutes for the October 2012 safety meetings were approved. Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp. General Information The Southern Montana reorganization process continues. City of Gillette representatives were in attendance to discuss an interim agreement for service to the Cam-Plex and surrounding area. Four viable options were discussed and the City will have a draft of the

Photo by PRECorp Communications

A new distribution line is nearing completion south of Sundance connecting the new Ulrich-Hawken Substation with the ONEOK pipeline facility.

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

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interim agreement from their Council by December 3 for consideration at the December PRECorp board meeting. Financial Analyst Libby Nisley reviewed the 2013 budget revisions to the Revenue, Depreciation, Member Service Expense Accounts, and the Engineering Capital Budget. A Hulett Town Hall meeting was held on October 27 to discuss the events involved with the September 25 conversion. A complete rehabilitation of a protection system is underway and process changes are under review. The Newcastle pole replacement project is projected to be complete by year’s end. Approved Items • Approved the bid for the Force Road Pole Replacement Project • Approved changes to the Residential Heat Rate Credit and Small Power Production Rate • Approved the 2013 budget • The January 2013 PRECorp board meeting will be held in Sundance on Tuesday, January 22. • Approved the filing of PRECorp’s 2013 Cost of Power Adjustment application with the Wyoming Public Service Commission (at a Nov. 6 special meeting.) Guests to the Meeting: Guests to the meeting were PRECorp employees Gary Kipp, Curtis Mock, Libby Nisley, and Tim Velder. City of Gillette representatives Mayor Tom Murphy, City Administrator Carter Napier, City Utilities Director Kendall Glover, and City Attorney Charlie Anderson were in attendance for a portion of the meeting.

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax


Board Highlights D E C E MBE R

The Regular Meeting for the Board of Directors of Powder River Energy Corporation was called to order at 9:31 a.m. Tuesday, December 18, 2012, in Sheridan by Vicepresident Paul Baker. All directors were present, except for President Walt Christensen.

to allow the city to serve facilities in the PRECorp service territory, while a long-term arrangement is negotiated. PRECorp Manager of System Operations Support Services Steve Eliason reported on the status of the 2012 Strategic Initiatives.

CEO Report The Southern Montana Electric Cooperative bankruptcy reorganization process continues. The bankruptcy trustee is evaluating a restructuring strategy. Development of a Member Engagement Strategy continues.

Approved Items • Approved the Donkey Creek wheeling agreement • Approved Bylaw changes that include additional language regarding the addition of a Class C membership

• •

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Approved Hulett underground cable replacement projects The January 2013 PRECorp board meeting will be held at 9:30 a.m. in Sundance on Tuesday, January 22.

Guests to the Meeting: Guests to the meeting were PRECorp employees Kristin Kelly, Josh Gray, John Tieman, Steve Eliason, and Tim Velder. Forward Sheridan officials Jay Stender and Anthony Spiegelberg made a presentation during the meeting.

Board Highlights

Executive Staff Reports CIO Doug Wilson reported the mobile radio upgrade went live on December 17. Sr. VP Dolly Schloredt gave an update on the American Customer Satisfaction Index (ACSI) Survey that is conducted annually. Capital Credit retirement checks were mailed December 14. Financials YTD system sales for October 2012 were down 4.8% compared to YTD October 2011. Safety The safety minutes for the November 2012 safety meetings were approved. Legal Report Attorney Mark Hughes reported on legal issues relevant to PRECorp. General Information City of Gillette ratified a temporary agreement to address electrical service to the Cam-Plex. Board members approved the agreement

SUNDANCE – CORPORATE HEADQUARTERS 221 Main Street • P.O. Box 930 • Sundance, WY 82729 (800) 442-3630 Phone • (307) 283-3527 Fax

Photo by PRECorp Communications

The decorated PRECorp bucket truck took first place in the Sundance Parade of Lights held in December.

GILLETTE 200 Garner Lake Road • P.O. Box 937 • Gillette, WY 82718 (800) 442-3630 Phone • (307) 682-0733 Fax

www.precorp.coop

SHERIDAN 1095 Brundage Lane • P.O. Box 5087 • Sheridan, WY 82801 (800) 442-3630 Phone • (307) 674-9018 Fax

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