chris roy in the birth of his baby girl cali we wish him and his wife and new family all the best and here's why craig's here tonight just in case anyone was wonder what happened to chris so obviously some things are more important oth advisory committee member appointments is tonight and that's one of the reasons why mr clancy is here with us we have the we have a vacancy on the light board with sarah jackson is resigning because she is moving out of town and we thank our st service we're sorry to see her go she was an excellent addition to the committee in addition to that the terms around jones and steve ski are up they both submitted f reappointment there are three applicants for the for the positions as well so you save three vacancies ralph jones is vacancy for which he wants to be appointed steeply on skis for if he wants to be appointed and surgeon oxen's which is just vacant was david beavers who are knowledgeable about the energy area and i've had most experience well well i've had it some experience with all three of them with jonathan add they worked a little bit on the wellington solar project and he's come to some meetings of back also dave bieber's had more experience with him again with the wellington project he's reached out to me a couple  voice supporter for just one person or two people i think we're lucky to have the uplands that we have dave because just because i've had more experience working with them i i think would be good in the position company and it was in that to that capacity that he was helping us out on some of the solar issues in town so again i think we're lucky in belmont to have a wealth of people who are familiar with energy matters klaus jonathan and dave all have strengths you know i mean i was saying that to steve that we do have two other utility committees because we can't obviously appoint everybody so we have two other utility committees one is the water visor reboard and the other is the cable t v advisory board for which we are lacking enough applicants or any applicants the case is the case maybe and if that's if these people who are utility minded obviously we can put the model on l band who they are interested in advise us on another utility like cable t v or the water department we would love for them to let us know and serve on those capacities because we definitely have a need  good way to get a foot in the door and do some committee work it's important work as well obviously that the climate action plan the green has to do with as well with the watershed as much as with anything else water department is not a small thing and cable t v obviously dissemination of information and occluding watching us tonight and such and the journalism that happens there is crucially important as well so i think we could i don't know if a either of you have any issue the easy ones to me obviously be rea the one thing i can i get consumers trying to wait it too heavily one way or the other i want to make sure that you know for instance we have someone you know sustainable belmont personally travis frank on here that i don't want to duplicate effort i think we would like to bring in a broad set one member mark mcveigh who was really great professional experience in terms of what we need but he is extremely busy and his company merged with another company not so long ago and so i think it's possible that he might feel that he's not contributing and the side that he wants to resign i believe his term is up next year ok so i just don't now i've  little trouble actually reaching mark we've had some e mail correspondence and he indicated he want to continue but again he's going to have to value a white what he can do in terms of his job demands joint meeting with the white board if we still keep it on that one question that there's some issue about doing this and since september st because sarah was around through the through the summer i don't know if she can make the now we're back to the twenty seven but again that's later in our agenda items for tonight but i i mean i think i think that from what she's told me she cannot make the th she would have been able to make the twenty  forward and i think it's really important for someone who's just coming on to be part of that discussion not that it's not important for sarah to come i hope she can come and dave can come and be the member and sarah can come and participate without voting but this really is a more of a look forward ok meeting that you know not having to go there i think would be a loss ok so i have a saying has she resigned i mean do we have a formal resignation letter we can except he i know she could she told me she was calling the select today on our purchase and we'd like to be typically between eight thousand and eighty five percent through energy new england there are devising us right now in the markets a good opportunity to bump our heads up a little higher and to what we're here looking tonight is to increase the hedge for two thousand and nineteen by approximately twenty two percent in two thousand and twenty by twelve percent that would get us to sixty percent hedged for two million one thousand and fifty percent for two thousand and twenty and by the hedging you mean just for the for the general public i mean the aging has to do with making sure that we have reliable regular power coming in to keep the lights on should anything be a price surety on our formerly expensive can be very expensive yes we've had that happen before we have yes so this is a way of locking in your rate through the duration of a contract so you know what your price point is going forward and you can because these items up here on the top of the chart fall off and we need to replace this is showing what happens that don't replace them so and i guess the recommendation from chris was to do this and not to exceed the price of forty eight dollars per  months of the year but overall you'd be like that i should just i should just say had that we had had we've had meetings with the any were gone over this and of course you never quite know what the right hedge number is eighty five some communities are a little bit higher little bit lower but they tend to be around that eighty to eighty five percent the other muni's that arc like belmont wellesley concord and so forth and so that's sort of the expert judgment as to where we should be and minimize our risk and there's still some spot purchases from the eighty five percent above that but it locks in price certainty as craig was saying for most of our all at one time like you would with stocks you don't want to buy and i have to understand your buying another to which is also in line with our policy target the twenty percent ok let's ask about the policy so i'm looking at the belmont light power supply policy from the march two thousand eight hundred dollars in section two portfolio supply if i'm reading this right it says the light will hedge to a maximum of approximately fifty percent of its capacity needs in any year when doing so will provide significantly more cost certainty than would otherwise be expected from the  in new england signs of capacity to the town of beaumont that the around thirty four dollars michael watts and so when we talk about purchasing power we're talking about the energy portion of th that's where this can get i guess a little gray and a little confusing this plays into the the auction before to pass the auction which is it's going to come up again and some future or sections here but we're not typically dictating how much of that we can purchase on the market so i think this is maybe really unclear and probably should be addressed in this year's update to it you'd be talking to one hundred percent of the seventeen percent i think this would be a good candidate for clarification in the future your wife and our supply of all see is that not only that you've got there tom i mean this is a target of no more than significantly more cost certainty than would otherwise be expected so from the forward capacity auction which is the spot market isin process why we have to vote so maybe it's maybe i'm wrong maybe this is actually the same thing and then the question becomes  and he's a guy we don't have to do when he says approximately fifty i mean you can do whatever you want to do so much like stability here i would imagine but if the target is closer to sixty or seventy or eighty conflict with calm you need then we should take a look at well i was talking to chris about this before and he and i asked him does this comply with the policy and he said yes and if you look at it it's the motion here is to authorize the general manager to execute new power supply contracts forty two million one hundred and two thousand and twenty up to a hedge total percentage of sixty percent and fifty percent respectively not to exceed a price of forty policy last last year it was a point to get the board more involved than are really pushing it out but i mean it would seem to me that would leave it up to the general manager to determine you know best way to sort of hedge against by spikes well but i so i think that that's what birth the st purchase power we've done under the new power supply policy so we'll get better and better and the next agenda item is a review of capacity cost recovery from footprint power i discussed this also with chris this has to do with bulma life participation in litigation to recover excess capacity payments to footprint power that a lot of other news of joined in on chris as it contacted me because it's happy had to make a decision between our meetings and honestly legally he could make this decision without even coming to us and but he at least i want to give him credit for looping me in and asking what i thought about it also being little being a lawyer is kind of more up my alley anyway and  agree he did join in bring belmont light into this it's not a class action suit but it's a suit of all these different muni's against this one company and then there was a an attorney handling it in the attorney's memo which is confidential i'm not would have provided us a you know obviously a proposal and how that would break down of the the grouping of missiles that would be part of this this litigation we don't have insurance that it would not  about something else and just have a connection if he was aware of this just to get another lawyers in put him that he pretty much agreed and i said chris is already gone in on this but he and it's totally within his right to do so but i give him kudos for reaching out to me is the curious about whether you have in the industry discussion of i so market committee voting you want to explain to us so it looks more like it's again not a not a a motion that's required but this is something more chris filling us in right kirsten had voted in favor auction which is the same with that footprint power issue we're just talking about how that ended up where it ended up with this does it actually walks in a price does not allow a market participants such as foot about wants clean action climate action plan yeah you know the energy storage and the clean energy standards putting them in the g i s i think are both really positive steps i got to confess that dynamic delist bid rationing is a little more complicated to understand  but i mean again chris has the authority to do these he did and he's bringing us looping us into them which and these are recommendations from the iso anyway so it's coming from higher up and it seems like this is something all three of them sound like things beaumont like should be involved our meeting dates we are scheduled to meet august th as we talked about earlier and that was a joint meeting with l back to discuss their ongoing to future role and to clarify their role views of us in the energy committee and make sure we're not duplicating effort in this  of comes out of meetings i had maybe about a year ago with stephen with roger coleman of the energy committee to try to make sure that the energy committee and the like board advisor can mean the light board are all moving in the same direction and not duplicating effort so september th is a special meeting which is going to be the cost of service study presentation this is that cost the service at the seven dollars yeah yeah seven yep yep here in this room that's going to be a big meeting that's the one we're going to be we had and looked at our costs to supply electricity to our customers and what they should be or cost of our service exactly right so it's just really about like it's getting back to what colors are cost and i think with dell box systems the thought was that once we had that settled or ironed out then we would expand the conversation to look at possibly rates in the future and how we compare and what we would do to you to fall  line or or to you know change as needed ok i said some point that i know one point we had talked and we said it would be useful for us to look at the cost structure relative to other unis to see where we have differences and where there may be opportunities or we would leave that for more a future congress or time to dive into our rates and there's a lot of different discussions we've been having with the type of rates whether we stay with the rate structure we have today do we do more dynamic rate structures of that nature working the cost of service study which looks at your costs anywhere where they might where they have where they should be applied to certain industrial a commercial or residential rates and then the nd big part is the rate design which is really what we research to talk about now how do you decide how to collect that money that you need to collect to keep the business running do you do time of use rates to do d study part which will start to lead us on to the how how the rate design might be developed this is a big part yes it's the big stuff this american public power thing relates to the new to the new school that we all hope will go through and it relates to the solar policy when we developed and implemented our solar policy which was put into place december of fifteen and was based upon a recommendation from the temporary net metering working group which i really abstain and check to coby were voting members at that time the big issue really was  rate but there were other elements to it as well and one of the elements that we put into place well we didn't put into place we recommended that the light board put into place which they did was a limit on the any so we've recently received requests from the people that are dealing with the high school solar to review that two hundred and fifty dollar group route but you but chris royal was authorized to get some people together to talk about a few issues that might be of particular concern and this was one of those this is one of those issues that came out of that ad hoc group and was presented to me as something that was time sensitive and i convened a meeting of l back at the end of june to discuss it so  if we if the high school i should say new school solar goes through it's going to be much larger than two hundred and fifty k w might be one megawatt or one thousand k w and so the question was why effect that and again roy and i were voting members that we were just getting our toes into solar at that point there was no facility that looked like it was going to exceed two hundred and fifty k w with the time we were quite sure about what to go to but two hundred and fifty seemed like a reasonable number to jump in at as an initial matter but as the discussion of the l back meeting  unfolded and i think craig was there but chris was there and there was there appeared to be no reason no particular reason for that two hundred and fifty to fifty k w that we could go higher and chris agreed that from k w number so this would change the definition of the mission fee renewable energy facility that's in section one plano one of the lights policy from two hundred and fifty or less