All right. It being 601, we will call this meeting of the RMLD board of commissioners to order. >> Yeah, we call the cabin meeting to order. >> Thank you. The meeting is being audio recorded, held remotely on Zoom, and
live streamed on RCTV. Uh, the RMLD Board of Commissioners recognizes the importance of hearing public comment at the discretion of the chair on items on the official agenda. Once recognized by the chair, all persons addressing the board shall state their name and address prior to speaking. It's the role of the chair to
maintain order in all public comment or ensuing discussion. Do we have uh we have no remote participants? Uh, do we have any public comment? Like I Okay. Hi, Rebecca. Um, can you hear us? You can go ahead.
Becca, you should be allowed to talk now. >> Uh hello. Can you hear me? >> Yes, we can. Thank you. >> Okay, great. Thank you. Uh I just wanted to make a comment on um the issue of retiring certificates uh that uh related
to that chart in attachment two. I see that um we haven't increased our uh percentage of renewable power retired more certificates since 2024 when we went to 55% uh power from uh non-fossil fuel
sources. Uh, I was wondering if we could uh if we could uh make a push to increase it uh because uh I saw that to get to 60% would only cost 20% uh 20
cents uh per month on the average customer bill if I'm reading that correct correctly. Uh and so why couldn't we go up to add a dollar? I mean, our um national grid doesn't seem to have a problem uh raising our
delivery charges. So, it just seems like to position ourselves to be less reliant on fossil fuels, which you know with when a hurricane knocks out a refinery or uh it it just is going to insulate us against uh
against uh supply chain issues and it's also the right thing to do. uh we have very high per capita emissions in reading and I really wish we would see more more aggressive action to uh to
reduce our use of fossil fuels in and in that same vein I wondered if you could um provide some kind of incentive for people to join the time of use program and to shred the peak. >> Thank you.
>> Thank you for the comments. Um, as you noted, some of those topics on the agenda tonight, so we'll be talking about them more. Any other public comment? [clears throat] Okay, great. Um, one quick note, um, we are trying to trying
something new and trying to be as efficient as we can with the time uh, in the session, especially given we have so many topics and so many presenters who are not always here for the full meeting. Um, so I'm going to do my best to keep us on time schedule today. If we
need additional time, that's fine. We can decide to extend time um for an important purpose, but letting folks know. I'm going to be just keeping an eye on the clock for our discussions. See how it goes. >> We do have a hand raised. Um,
>> thank you. Uh, please go ahead. >> Joseph White. >> Yes, Joseph White. I'm in Reading at on Prescott Street. Um wondering if you can tell me what this what the main resources are for renewable energy that
RMLD is using and what the state mandates are. >> You want to just provide a very brief >> Yeah. Um just high level um hydro, wind, solar and nuclear. >> Are you using nuclear? Yes, that's the
the biggest portion of our portfolio is nuclear at the moment and that's considered non-carbon. So there's it's it meets the state mandate. Uh the state mandate is 50% by 2030. Um is it 75% by
2040 and 100% by 2050. >> Thank you. >> Thank you. Right. I'm going to pass over to the back. >> Okay. though Jason congratulations on your role as GM but on behalf of the cab
[clears throat] like to thank you for your service of eight years great service to the cab. >> Yeah. >> Okay. [laughter] Thank you. Um okay liaison to
commissioners and cab. Any town liaison? Nobody. I don't see the board of select board here. Do you have any updates on any um >> relevant meetings? >> I don't I don't have any specific updates uh on the the town charters
past. Um no, no new action going to be there and I won't comment on it further unless there's something specific, but I think that's on a 10-year hiatus at this point unless something specific comes up. Um and I haven't heard anything new on the schools uh for reading. Uh both I
think are in engineering design. Um and so they're drawing drawings and printing plans and as soon as those get approved then they'll start doing construction and maybe go back and look at energy again. Um I'll Megan probably has had more contact
with them or if not maybe that's the status that they're they're doing their engineering. >> Great. All right. So, we'll move to the marketing update. >> Thank you, Pam. Um, in the interest of time, and I know you've all seen the
slides prior to tonight, um, I'll just go through at a high level what the year looked like and what our plans are. Um, the plans are very loose at this point, just to give Jason a little bit of time to get settled in and to form some solid goals and then we can build some marketing around those goals as well. But a lot of the stuff doesn't change
from what we've been trying to do over the last year and keep things going, keep engaged with the community. So, um, just very quickly, it was a really great year. It was very busy. Um the team of me grew to a team of we. Um we added a marketing coordinator um who has been
fantastic. She's hit the ground running. She's a Reading resident. It's really nice to have someone in the community as well. Um we extended um the brand. We finished the logo and website projects finally. Um we um grew some engagement across channels nice and slow and
steady, which is what I want to see. I want to see that slow roll throughout our socials. We still have some really nice um feedback from folks in person [clears throat] at events out in the community. We were able to increase the amount of events we were at. We were
able to um push forward with events that had been dropped the year prior like the EV show. Um we were able to partner with local businesses like the writing co-ops. There was a lot of really nice organic connections within the community. Um, we are really excited
about um the results of the customer survey. We got positive trust and positive satisfaction results at 98%. We got a lot of good information in there that we're kind of still pulling through and picking through as far as how to address with programs or resources for customers within the community. Um, and
our biggest push has been that engagement piece, getting out into the community, hosting events here, having web webinars and um, resources for all different segments of our audience. >> Just on that, >> yes, >> when you talk community, you give
examples of reading exa reading examples. Are there other towns that you're also engaging with? So, >> yes, absolutely. So, we I'll give some key just community engagement pieces. I'll start with Reading, but we um did a safety program with the Reading Fire Department where we had all of their
ships in house and hosted them internally. Um we partnered with um Wilmington Cubout groups to do a kind of um workshop with them. We brought in our metering teams, the IRD team as well as the line team to come in and do demonstrations. They got to see all of
those facets of our business. Um that went over really well. Both of those serve as pilots. So now we can extend those out. We're reaching out to Northreading for the um for the EMS services and we're reaching out to other Cub Scout and Girl Scout troops in our territory. Um we connected with the
North Reading sustainability um uh committee in last spring and were able to go to one of their events and connect with other events in North Reading including Riverfest which we had never attended before. Um I mentioned the EV show which was hosted in Wilmington. It involved a lot of collaboration with
Wilmington and then unbeknownst to us ended up involving collaboration with their field hockey team because we were double booked and we just partnered with them to make it work. So that was really fun and actually was a nice connection. Um we the writing co-op I mentioned we have um started reach out to reaching
out to senior centers within our territories to do some educational resour um um educational workshops. So we are finally nailing down the Lynfield Senior Center to be our first pilot. So, we're trying to spread it around to all of the communities, pilot these programs, and then organically push them
out to the other communities as well. >> Um, as I think, great question. >> Um, this gives kind of an overview of what I would consider pieces that I'm feeling really good about completing in 2025. Again, being a small team, being a
very busy year with a lots going on in our territory and internally, uh, we were able to finish that logo project. We were able to bring the brand to the website and the digital properties. We were able to partner with Reading Co-op and promote the loan um program um
successfully. We were able to host a large-scale event at the River Park ribbon cutting including um many state representatives and lots of good press from that. We were able to reach to the community organizations that I just mentioned. We grew the team with adding
another person which we know takes time and energy. Um, internally we've done a lot of housekeeping. Um, updating our internal events calendar. Um, launching the portal with the IRD team and promoting that out to customers and slowly onboarding them onto that and then finishing the segmentation and
satisfaction surveys. And then in progress ongoing um but still fairly you know strong in the completion category is um that website update and implementing the analytics which took longer than we planned but we've got it in place now and so we can start
tracking and start looking at how folks are using the website um finalizing all of that brand roll out. We're pretty much in that end stage, which is where we're looking at things that, you know, that kind of being cautious of the costs and when they need to be be um replaced, things like signage and the trucks and
all of those. So, you'll start to see those things start to turn over in the next year. Um the community organization piece we talked about um the AMI roll out the beginning promotion of that began at the end of the year and we're continuing Megan and I are working together on that as far as how to inform
the community keep the website updated so people understand when it's happening and where. Um the energy programs are always a continued promotion pushing connected homes and shred the peak and all of those pieces as well as our rebate and incentive programs. And then we have just started working on customer
testimonials. the Ird team um has got a wonderful testimonial from a solar um commercial customer who leveraged our rebate as well as other incentives and we just put that up on our website today. So we'll start to promote that and use it as a model to build other testimonials.
And then looking at the future, really growing all of that, the program promotion, the education, um, workshops, still focusing on that slow and steady positive social growth. Um, continuing our internal housekeeping, looking through our operational procedures, making sure that we're operating
efficiently. Again, being only two people with a lot to do, we need to make sure we're working harder, not I'm working smarter, not harder. Um, and then really looking into customer resources development. We want to see a focus on new customers. We are able to
um give them some internal or quick touches like our welcome email when they're loaded into our system, but maybe we could do more. Can we welcome them through realtors or other partners when they're buying a home in one of our territories? Or can we have special resources for them as you're new to the territory? What does that mean for you? If they're not, if they've been an
Eversource customer, they're not thinking of us in the way that they could be. were so much more of a resource than that. So, kind of targeting them as well. Um, and some of the the reactions that we saw in the survey was around how people wanted to be communicated and look for the information that we provide. And a lot
of it was mail and email um the web sorry, email and website as we thought in general web searches, but there was enough of a push for traditional mail communications and we have an older customer base. So maybe looking at some segmented um communications to make sure
that our message is getting out. We did a postcard for the AMI rollout. Great response. A lot of people signing up for our newsletter from that as well as for updates from that too. So and then continuing the events. The events are big being out in the community. People like to see us out
there. Um and I know there's a lot of other information in the deck. So, I don't know if there's anything anyone wants to ask questions about or me to just jump to to go through. >> Just a few questions. >> Yeah, of course. >> So, I spent some time on your website.
Looked at some of the links. So, what you may want to do is check what the links point to. For example, there was something on utilities that points to an EPA website, but it's actually a water website, the
EPA water utilities website. It's not electricity. So you know th those kind of things you may just want to they may have changed some things or so please you know absolutely because there there was a because I went as a customer you know I was looking for
information you know I tried to mimic what a regular customer would want to do and try to look through those links and so so I I came to that links and you know it was a water utility link so that uh it talked about AMI infrastructure
but it didn't you know go in the right link for electricity. >> Yep. Absolutely. We'll check that. Um, >> and the [clears throat] other thing also is just from a communication point of view,
I I I looked [clears throat] at what we have for rates, the rate information, and it's the information that we've used and we've approved, you know, recommended by the CAB and approved by the BOC,
but when you try to map it to your own bill, >> it, you know, there's it just doesn't app. Okay. So, so I I think people know what the bill looks like. If you could just make it easy and say, you know, what each line item is and what the
rates are for the different structures because I know my system and it was not easy for me to figure it out and if it's someone's new to the system, it's going to be much more complicated. >> I 100% agree. We we did last year look at the bill kind of explainer pages on
our site and we did make those a little bit more visual, try to simplify some of it. Um and that was in the process of updating the logo which we're looking at the templates and how the bills are presented. Um the other side of it is that rate section is more of what like you said legally what
>> it's more like it's it's a legal document you know so so it's it's not easy for someone to understand their bill that way. I mean I I it's easier for me to look at my bill and say okay this is these are the different elements of it but then you can't make a comparison of different plans. So if you
could have one like table which clearly showed what the options were that I think that's something that could be useful for people to decide whether I want this plan or that plan. Mhm. >> We did develop a detail bill kind of
like a page or that was nonpro we actually >> I went to I I went to the rate I went to the rate information. So it's like when you go and click on your rate information you get like a 20page
document. >> So yeah >> I think knows what I'm talking about. I do and what we've been trying to do when we transitioned the website there was that kind of um triage effective the part that we had to clean up and move
over old outdated things that we tried not to >> I I I think you know I'm just treat you know work in progress and this just please take a look at everything on the website and just look at it from the perspective of a end user and say what makes it easy for me to you guys can do
it I I know so it's just worth checking those things because rate information is something people will go to look for. >> Agreed. No, I think that's something we can put on the table for sure. Thank you. >> Oh, go ahead.
>> There you can see me. Um, I got a communication from the Reading North Reading Chamber of Commerce and uh saw that you were sponsoring a workshop for commercial and uh uh as commercial
industrial clients. Awesome. I love that. Love seeing that. Love seeing the the partnering with the chamber. Um the outreach to the commercial and industrial community, the partnership with other vendors in terms of, you know, it's not always us. Here's some resources. Maybe didn't know about them.
Let's talk about them. Um so, so love that. Um was tempted to sign up run away right away, but I didn't want to be one of the first 20 to sign up. So, I'll wait until until you until you uh get some more
people on. I'll be number 25 or 26. Um but yeah, I I I would love to attend that and and uh I think that it's what I like about it is it it's a customer base which is busy doing their own stuff and
here's an outreach program that's part of you know a number of things that they may be plugged into already. So you're getting them from not just from us, you're getting it through the chamber and then you're partnering with other resources that they can take advantage of. um and and having them show their
technology and whatever. And then of course for us the benefit is they're more efficient and lower demand and and we can get some other things out of that. So I thought that was fantastic and um I' I've already put the time slot
in my calendar. So uh um and a good good program. I'm I'm looking forward to it. We've been really lucky to connect with the Reading and North Reading Chamber as well as the Wilmington Tukbury Chamber and we've been able to get in some of their newsletters as well. Um, and we have were able to more recently connect
with the Reading Town Manager so we get um monthly updates in their minute that goes out to residents as well. So, we're working on finding like um platforms in the other towns too. >> Yeah. Yeah. Yeah. I thought that was so awesome. Great.
>> Any other discussion or questions? Okay, thank you for the update. Thank you. [clears throat] Look at us moving right along. Um, so efficiency and electrification update
and certificate retirement update. >> Megan, I'm going to put up your one slide deck so you can skip through it. Sure. >> Happy new year. there. >> Um yeah, so there's just one slight um update.
Uh so there will be two updates. The first one is on the efficiency and uh electrification uh program. The other piece is on demand response. That one we are waiting for the final confirmation of the annual capacity peak. Then we'll
do the calculation of savings and all that will be included in the annual report. So when we kind of report on the on the annual report then maybe we can discuss that piece. So this one is really focusing on the rebate programs. Last year we launched the new expanded
heat pump and weatherization program. It's been really successful. It it's now the biggest program uh at RMOD we have about you know including both ray based and the other DR program. We have about 20 programs now. Uh last year we added
three one for residential, two for commercial customers. We also kind of improved to existing programs to be to kind of have a better way of calculating the energy savings and provide the incentives based on the
estimated savings. Uh we're planning to add at least two new programs this year. These two are in in the works. So that's what I know um as of January uh that we want to add to um to the program. Um I
also wanted to kind of uh I wouldn't say maybe not not to highlight but I I know the board asked this question before about you know what we collected and what we spent. So I would say we continue to have very
robust residential participation. so robust that it's in deficit for a few years in a row. We still don't have a whole lot of engagement with commercial indust and and industrial customers, you know, for various reasons. You know, our rates are low, energy budget is a small
portion of their overall budget. So, it's like at the bottom of their priority list. Um, and a lot of these uh efficiency projects take a long time. it may disrupt their operation and it may need many layers of decision. Uh so so I
think that led to very very you know compared to the residential pretty you know inactive participation we get four to five each year and that actually um um to um uh raise point like you know you really like the idea that we are organizing the commercial and industrial
workshop is really we want to start to reach out to them more more aggressively and really try to find different ways to to engage them more. I would still say they won't be you know if we have hundreds of residential participation we will never get to that point for the
commercial sector but hopefully it's not five it's 20 you know that you know incrementally increasing that participation >> um yes >> your slide talks about an ending balance could just talk to the ending balance
what that so that it's easier to >> yes the ending balance is calculated based on for each year how much we collected and how much we spent. So like for example we collect $3 million for both uh residential and commercial and
we spend one million and then with ending balance it's $2 million >> because from a budget point of view I think there was a number of what was the number was it three million there about three million for the for the >> yes it is it is >> so that that's a spend is that is that
the idea is that we going to spend three million to drive this I'm just trying to put that in the context >> yes Um we that is a dedicated fund so we cannot use it for any other purpose. So it's always in its own accounting um
track. Um it's used for rebates. It used for vendors who help us to uh um administer the rebate programs. Um and that's that's >> so we say we have 3 million >> and if I see a red line so red line
means we spent more than 3 million. >> Yeah. For the residential customers, we spent more than we collected. >> Okay. >> Yeah, we spent I can't see. >> We spent >> kind of following along this Yeah. >> same same vein. It looks like you have a
net 2.5 million in the commercial account and then a negative three million in the residential side. Looking at the chart. So that if we are doing $3 million investment into the fund per year, does
that mean we're positive 500,000 or does that so that's that's where we're at? >> Well, the positive 5 thou 5 million includes the 2.5 million that was moved from the operating budget to the EC fund. That was maybe five years ago, 2021.
>> So there's a there's a $5 million net value in this account for both residential and commercial. >> Yes. that includes the the the fund that was moved over there. So that so for the ending balance I do not have that. >> Okay. And and per year we run a $3
million last couple years you can >> collect about 3 million. >> We collect about 3 million >> accumulate >> and it accumulate. So we're running a $2 million positive roughly. >> Yes. >> Okay. And and then that 2 million do you feel at this point is that should we
adjust that investment per year lower >> or should we keep it because 2 million is a significant yes dollar amount. >> Yeah. >> So we can do different ways. One we could
um just it's just an idea. It's not a proposal right right now. For example, the federal solar credit is disappear. It's is gone finished. We could enhance in that program. The incent incentive
level we could do that. Uh we are continuing to add new programs. So I don't know you know what the participation might be. uh one small piece I I I I'm not sure you know how much participation there might be but we
are developing a small CNI customer heat pump program there's increasing at least there's inquiries about it and I feel the heat pump kind of a um adoption is is probably the easiest one for a
commercial customer to do especially the small CNI because they they usually just is like a small space or even a house as their business and then it's a similar process as a residential heat pump program. So that could grow. I'm not saying all these could fill that $2
million um um uh surplus. Um but I'm not sure. I think maybe it's it's it's the board's decision if you want to lower the the fee that we're collecting. I think the last time we increased the fee was 202
increased from 00 three I think to 005. >> Yeah. >> You know just that it it begs the rate sensitivity right any any incremental adjustment that that can be that can we can do
>> can be helpful for people. you know, we all know what rates are going and anything that we could do to >> my opinion. But >> yeah, thank you. >> So maybe the the formal question is, you know, what's your and you can do some analysis and come back with a more formal proposal, but what is your
recommendation on how to >> I I I'm I was more thinking about like what's the implication of this change like is to change the rate back if if >> I don't think we're talking about rate changes yet. I think you're hearing some ideas. You threw out some ideas. I think
what we're saying is there's a surplus. >> So, there are probably a few different things that could happen with that surplus. You could increase your programs. You could adjust rates. Maybe you do a combination of both. I think maybe what you're hearing is a request
to look at that and make a proposal on what, you know, if we're not just going to continue with the status quo, what's the recommendation? >> Understood. But I think maybe my kind of question is more if we make this a
annual evaluation and then make changes to the rates. Um we I think we could do that because even if I did an analysis of you know increased programs, you know, new programs, it's still an estimate. This is entirely a voluntary
program. So my estimate could be off. then we may still end up not spending that much or maybe you know this the the the request is overwhelming us. I I I just don't know. So I think maybe the end goal of this exercise I think I'm I'm trying to you know understand more
like if we want this to be an annual review and then be clear to the customers that at the beginning of each year we're going to look at last year's spending. If we have this much of a surplus we're going to lower the rate for for this this year this next year.
If that's the thinking behind it then yeah I think that >> so would there been a steady to a million dollar surplus >> there was if you look at the chart in 2021 it was even right
>> then slowly increased slowly increase in 2024 the rate was increased right it jumped by zero two up >> with the thinking that we would have more >> robust I don't know why.
>> I think that's probably the the idea. The thinking was more robust programs, more interest, yeah, more uptake. So, we needed more funding to support that. >> Um, so I guess so I I think I don't hear anybody saying we want to go one direction or another. I think we're or
that we want to do an annual review. I think the question is just how like what's the recommendation on how we should think about this? Should we >> My recommendation now is >> not now. of asking for like for you guys to go back and think about it and come back with if you want to increase the programs, here's here's what we could
do. You threw out one idea around federal solar rebate. If we want to change rate, here's what that could do. Would we do that just as a one-time or would we do that annually? Like let's be thoughtful about >> I think one of the things we could look at is, >> you know, is there a target like funding of that account that we want to just
kind of maintain a balance around? >> Yeah. >> And try to work off that. So, as Megan said, we could add more programs. We could add more to the incentives. Um, it's best guess as to what people are going to do. And then if they don't do what we think they're going to do and we end up with too much of a surplus, then
maybe the correction might be a rate that year. But then then if more programs get adopted, then maybe when we look at it, if we're below our target, then we go back. >> Just kind of >> Yeah. We Yeah, we just got to do it in during the budget cycle, right? Yeah. So yeah. >> Yeah, but it maybe a recommendation that
we're doing it in January. >> Next time maybe October, revisit in October maybe a good time. >> I saw Rich's hand first and then I'll go to Dave. >> Yeah, I I guess I'm more interested first in understanding what the programs are,
where Yeah, I guess what the programs are first. All the baseline of what we're spending the money on. Is it all just because it's not all just heat pumps, right? Yeah, the table shows the >> So, this is only heat pumps. >> Oh, the table shows all types of
>> Oh. Oh, I see. Okay. So, these are the these are >> the first one is heat pump and weather and >> solar EV chargers, appliances, commercial include quite a few. Um the >> these are and in these five categories
there are you said 20 programs programs or >> Yeah. So you if you uh so for example for appliances there are multiple. So when I say 20 there they're there are like five or six just under but for this purpose I'm grouping them up. >> So is there a place I can go and find
all the programs? >> Yes, we have a page >> on the website. It's on the website. >> Yeah. >> Excellent. >> I checked it out. >> That'll be helpful. >> Um yeah. So the the piece on this that I I think I'd like to know and I suspect
my colleagues would is which which of these is having the most impact on our peak and also which customers are most most uh driving our peak >> as I understand so that we know where to focus the programs not just okay how
much money should we spend but know why we're doing each program. So one the just to follow up real quick is as I understand it you already have AMI on all the CNI customers right there's already >> data a type of AMI >> okay but you know like if you could pull
reports and say on my peak days here's the the people that did the most >> that that were really consuming a lot of power during the peak you you would be able to find that out as on an absolute level and also relative to their normal demand like who is actually increasing their demand
during the peak like where are the 50 customers that you really would like to see doing things and start there. go after those 50 or those hundred and say look we really would you know we really work on those 50 or 100 so that we're actually having impact on the peak which
is the point of all this right that's the major point of all this >> actually like I said at the very beginning this is the one part of the puzzle okay >> the peak demand reduction is the other part is not here so actually here is electrification and efficiency right so electrification actually increases
>> increases because the heat pump is driving but it used to be but right but it used to be the EE charge and now it's the E and electrification. I get that. Yeah. But this the the biggest point is where are the people that want to target and and prioritizing who those people
are and going to them and seeing what will work for them and making sure we're going back and having one-on-one meetings rather than oh we're having a workshop which is great but are those people showing up? >> We so we've we've tried different things. Yeah. We've visited customers.
We even did like the the whole like site visit to look the to kind of propose what potentially can be done. Like I said, it's it's a huge internal decision for their business that we have very little influence on.
>> But where we do have influence ultimately is with rates. Once we have AMI and we can start thinking about rates that fluctuate and and we're actually charging during a peak during at least or start thinking in that direction so that people feel it and now they're more motivated to come to the
meeting and look at the program because it's costing them if it's costing us 5x on the wholesale level it's costing them 2x something where they're not the people that on their side those decision makers are noticing this and have a reason to go to the meeting. Yeah, we definitely that definitely makes sense
because we actually internally we keep a top 100 list for commercial customers. We try to keep keep reaching out to them to very little result. So now we're trying the other way like we want to have more inerson interaction like workshop and talk about
>> by overall demand or top 100 at the peak >> uh kilowatt hours >> but usually they would have the demand as well. Okay. Megawatt all the when I we have a list we keep a list of all the peak demand top peak peak demand customers.
>> They are they all look familiar. They are in the top 100. [laughter] >> Thank you. >> Yeah. >> Hiding behind you don't always get um so yes I understand uh heat pumps and
EVs are going to um drive demand. So it's not really a a peak mitigating process. Um the peak mitigating process in that scenario is you convert to heat pumps and you get your EV car. Then the next thing you
want is solar because now you've got your own personal peak demand and solar would be a way to mitigate that uh and therefore um mitigate our need to support that. Um, so
lately, so I would want us to do whatever adjustments we need to in the the the mitigation, the the rebate
program to make sure that when someone's ready to say, okay, I've done my heat pump, I've got my car, I want to do solar, have that [clears throat] be a calculation which is at least neutral in that decision. I mean, I real
fund the whole thing, but but at least not come out of the calculation, but by the time the life of my solar panel comes around, I still am negative in terms of my payback. We should at least get to neutral there. um whatever support whether it's offsetting supplementing the the federal grant that
used to be uh so federal rebate that used to be there or or whatever that takes let's at least get to neutral in that calculation and and I see that specifically in the kilum school and the recal
um response that I know we're they're trying to look years ahead and what's the program going to years ahead. So I realize there's there's a little bit there. But whatever when someone reaches out like that, I would want our interest, I would want
our program, I would want our response to be in the life of the panel, we'll get you to even at the very least so that so that you're we're back from that calculation by
saying I've got an electric building and I can't afford solar. I understand the logic of it, but when a customer goes out to bid for a solar developer, when they know RMLD is going to make them whole no matter what, >> that's going to we don't want to be in
that business. I'm I'm sorry that because now you're becoming a commercial >> enterprise. We we want to sell electricity. We want to support our programs, but we do not want to be the location where we just made it. we made
it incentivizing somebody else to make money off of our our rateayers. So, you have to be very careful of that. >> Well, I I think I hear that. Maybe maybe it's a conversation for >> well and the other side of that calculation is that if if we don't incentivize
a large source like a school or a senior center to have solar panels, then the rateayer pays for that entire bill by needing to provide power at peak periods for that power if if there support it. I mean, there's a million factors
involved. I'm just I I'm just I realize we can't write a check by saying we'll get you to zero because for for the very thing you say that they'll then there's no incentive to shop uh a cost-effective price. But um
we shouldn't they should be able to say okay I can get to I'm not disincentive for doing heat pumps because the the rebates don't don't get us there. So I don't know where the magic number is.
>> So I think you know you you started the response to that question with you know some specific areas within solar like the federal rebate program went away. That's obviously going to disincentivize folks to to move forward. Is that something we want to explore? What's the estimate of
how many people might do that? What would that look like in terms of the budget? I think ultimately you're hearing a lot of ideas and a lot of interest. Let's go back and take a look and come back with, hey, if we were going to do this annual review, here's what we would think. I don't think we would necessarily want to get to zero.
We probably want to have a buffer just in case we have a little bit of extra tape. All sorts of things you can consider, but let's let's look at what this Let's not let the surplus sit. >> Yeah. >> Yeah. >> Yeah. Thanks. Uh I think that's a good summary. Uh, I I agree with Ry on maybe
like looking at some of the big users like a school or a senior center and is there a way to make a grant or something like that of this money to make to make the solar work. I'm not sure we're going to be able to replace what the federal government took away
because I think it was a big chunk of money that's not easily replaced. And then just on the efficiency, energy efficiency, I think looking at whatever we can do to cut natural gas. So if we have areas that people are using natural
gas or we can cut natural gas usage by providing heat pumps, I think that's a good focus to be on because that reduces local emissions. Uh, and the price of gas is going skyhigh this winter and I think people are going to start to
reconsider whether or not they want to be on natural gas and maybe you know pushing the heat pumps again would be a be a good idea. Just a just a thought. >> So I'm going to wrap us up on this topic. So we're about at time. Anything
else that you wanted to mention? Okay. >> Can I just clarify? Um so the action item of the looking at the scenario is that for next meeting would you like an update on that or is this something that we look at when we do the cross service study because this is a rate right and
that's >> just wait maybe I'll I'll let Jason maybe meet with the team and determine when is the right time to come back. I think you hear interest um in kind of moving a relatively quickly on it, but let's let's make sure we have a thoughtful response too.
>> Yeah. And I would also say like, you know, to change a particular program doesn't need to be tied to, you know, resolving this ending balance issue. So like if we want to propose to change the solar program, for example, when whenever we're ready, I guess we can
come in and do it. I think you're probably hearing interest in making sure that it's also we can fund it in a way that isn't going to have an impact to the budget given where we are in the process. So >> your last point, we had 128 tenative new
heat pumps, 128 um in 2025 and we had 20 solar. So, I have a hard time believing we're having an adverse impact on rates because 20 people switch to solar, but
we have a big increase in demand because 128 is drawing power from the grid that we need a supply. So, I'm not saying we need to have a program where all 128 get solar, but I think there's a disincentive in this solar line that
needs some support and and I don't see going 20 to 50 having a negative impact on on rates or other rate payers and it offsets what we'd have to supply from the grid. So, we can look at that more
holistically, but I >> Okay. Um, why don't we move to the next >> topic? Thanks. >> I don't see >> uh the typical retirement. Um I know somehow the tradition is to look at this
at the beginning of every year. Actually it's not the good time to do it. We can discuss this but I want to explain try to explain the lag of the certificate actually the minting of certificate there's six month lag. So as of now we
only got the quarter three of last year's generation of certificate. We should even don't have quarter four. So that's for last year and then beginning of last year we decided on how you know the percentage of the retirement
certificates. So you made a decision pretty much 15 12 12 to 15 months ahead [laughter] of time on how much you want to retire and I I want to kind of explain the risk of doing that. So the cost of additional certificate
retirement will depend on first the generation of certificate. So that's depending on all the you know non-carbon power resources that we have. So it depends on the weather. A lot of these um resources that generate certificates largely you know depend on weather
whether it's a drought now that's hydro you know all the others solar also depend when also depend everything depends on some uncertainty that is out of um everyone's control. Um so and also
you know as time goes on our contracts on these resources may change. We may drop off some I I think I mentioned here yes we are actually dropping four hydro uh contracts that got too pricey over the years. Um so this will affect our
generation of certificates. So that's one and the other piece is the demand itself for energy. So the retirement percentage B depends on the electricity sale the retail sale. So if the demand in our territory goes up and that 55%
whatever percentage that is the absolute megawatt hour or the absolute number of certificates will increase do we so we always have to consider do we have enough certificates to actually retire even though the percentage stays the same. So where whenever you think about should we increase the percentage you
need to think at least these two big big um uh factors. And then the other piece is when we consider as of now um or for the at least for the next few years uh when we talk about increasing certificate retirement the cost is not
really to add some dollars to customers bill per se but rather the certificate sale revenue is being reduced. So we're talking about hypothetical or you know um you know sort of uh opportunity cost
of additional certificate retirement. So I'd like I like the board to take all that into consideration when you think about should we increase percentage or not and then for the so our we did our analysis just for 2026 as I said it's
premature. We did the best estimate we could. It's still I would I I hate to say this in a public meeting, but it is still very like I I don't know. I don't know. I did the best estimate I can, but still we we we haven't even close 2025. So, it's really
difficult to know how how many we're going to have in 2026. Um so this this slide is just showing at least last year the generation of certi certificates has declined mostly because of the decline in hydro production
because of weather like last fall we had a we had dropped uh for this year our estimate is you know the the drop is not that much it still remains low so 2024 was a super year because of high hydro production so I want to show this
charges to to you. So I would say this is not the meeting to actually have a recommendation. I would still say like I I I think there's risk in increasing the percentage right now at least for 2006 2026 and also maybe
maybe January is not the best time to make the decision for this year because of the lag. Um, and then the other piece I want to promote, I will keep promoting is the renewable choice program. That's for really engaged and interested
customers. If they want to increase the retirement of certificates, they can participate in this program. We will make it happen. So, so that that is that is that has zero impact on the rateayers. It's basically these interested customers they can
participate and we'll retire more certificates. So I want to say that and I know the last slide is really a request from the board uh to have a scenario analysis. Um, it's pretty uh self-explanator. >> Next slide.
>> Oh, I do. I forgot. [laughter] >> Okay. Yeah. So, you can see, okay, at 60%, yes, maybe it's $2 per year if you use 800 kilowatt hours a month. But I want to give you
like I want to point you to the sentence below the table. uh in 2023 somehow I don't know it was maybe the weather as well there weren't enough certificates to retire 60%. >> Were there in 24 >> yes 24 was a super hydro production year
>> were there in 25 >> 24 as of now? Yes. >> Yeah. >> Yeah. >> And those certificates get more expensive as production curta as production declines right in the renewable space.
Yeah, I think there are different pulling forces. For one is, you know, with all the federal incentives going away, projects are pulling out. So, that's tight, making it tight. But then, you know, regionally, Connecticut just kind of uh backtracked their renewable
energy goal, so there's less demand. >> Okay. Different moving pieces, but in general, >> in general, it's getting tight. >> If there's fewer resources, then the price goes up. >> Yeah. But there is a uh invisible cap to the press, but the highest is the
Massachusetts or Connecticut class one. There's a cap because of the alternative payment uh uh dollar amount is $40. So, it's like an invisible cap to the price. >> And and just a question going back to the renewable choice program, do they do
those customers actually pay for the retirements? >> Yes, >> they cover the cost. recover the cost of retirement. >> Okay, >> I have a question on that. So, so I'm looking at that line for 100%.
>> And it says additional cost in dollars per kilowatt hour, right? >> And this is like 1.175 cents, right? >> Per Yeah. >> Yeah. Yeah. >> And you're charging 1.8 today.
I looked at my bill. >> So, >> oh that's definitely >> choice >> this this cost calculation. So the renewable choice program we retire only mass class one which is $40. >> Okay.
>> $40. >> And this is this is this is averaging over all the others. >> Yeah. that that that that average cost you see is adding like all every item every category of certificate has a different price. But for the renewable choice program we
only retire mass [clears throat] class one certificate which is $40 around 40. Like for our program we cannot change the rate all the time. So even though the current market price is $39 I think but we keep
at $40 per megawatt hour. So that translates to the one um 18. >> So in a year where we're having a no snow, we don't know how the spring is going to be. We don't know how the So I
understanding your point >> and legislatively there's a lot of things going on in Massachusetts as well where we're coming to an election year and energy prices have been so high. Even right now the state is talking about delaying implementation of certain
goals. So there's a lot there's a lot of factors going on that I agree with Megan. I I I would like to see us stay status quo. I know Rebecca is very excited about increasing that amount but
at the same time we don't want to go into a a deficit of certificates to retire. >> Well I was asking the question on that. So let's I mean 20 cents to go to 60% right? So let's just assume >> just for this year
>> well it's an estimate too my next question. So >> so the first thing is if we were to say 60% or even stay at 55% and we were in a situation where we did not have enough certificates to meet that goal. Wouldn't
you need to come back to the board for approval to purchase additional certificates to meet the goal or give us a chance to weigh in on whether we want to do that or not? >> Well, before 2030, you can do whatever you want, >> right? I'm asking for right now. If we were to say 55 or 60% and we were in a
situation like like 2023, >> you wouldn't just go and buy certificates. >> Well, if you already signed a order saying we have to retire this much, then we have to retire this much. I guess >> so you're asking for you're saying you don't even have enough certificates to
retire that much. So therefore you need to buy additional certificates. What I'm saying is you wouldn't just go and do that. You would come back to the board and say we only have 50%. No. Unless in your policy 30 I guess you say that if the price if if RMLD does not have
enough certificates to to retire this needs to be revisited. If if you didn't say that in there, >> then we we will have to just, you know, comply with whatever was in there. >> Okay. So, sounds like something we should look at in the policy review
because I don't think that would be the intent, right, of us for incre like even further incremental cost without having that conversation. >> Yeah. Just quick math. If you had to purchase $25,000 at $40, that's 2 million, >> right? >> Yeah. >> So, that's a $2 million adder where you're trying to
>> Right. we want the opportunity to make an adjustment say listen we built >> the certificates to do that. So >> I think that's important to note that our intent is not to go and buy additional certificates just to meet that objective especially if it's not a statemandated goal at the same time
>> but at the same time it's not just Rebecca there are many people who are interested in pushing um the envelope on especially if it's a low cost on what our percentage of non-carbon energy is and what we could claim. So I also think
it's reasonable for us to look at the lowcost impact like moving from 55 to 60. What I would love to understand though is we had an assumption when we went to 55 of what the average increase
would be or what the per kilowatt hour increase would be. At what point would we be able to actually look at that and say, "Okay, we thought it was going to be 69 cents. It was actually whatever the number
was." When would we have that data? >> I would say maybe the second quarter of next year. We we we will have the full 2026 done. >> Well, we made this decision back in 2024. So we would want to look I would I'm asking
for like what's the like one year of 55% what was the impact and how did that compared to our assumption. So I think that get it there are things we can't control. We can only ever make assumptions based on the best information we have. But let's look at
how different it was be before we go and make another decision based on estimates. That's clear. >> Yes. So just to clarify, you want us to look at the fir or a year of 55% retirement because >> the first year that we were able to >> first year, what was the impact?
>> What did it actually cost us on the bills and then what was our estimate at the time and how close was it? >> Yes. We know the estimate was 69 cents per month, right? Whatever that >> wherever that map was. We've got the the >> numbers in the previous board packets, right? >> Yes.
>> So how close was that? The other piece of this is if you're making decision for this one one year then next year are you saying oh okay based on our new analysis for the for the for the new year then
you you may potentially lower the percentage if there's not enough or if it's too costly. Is that the intent? >> No I I don't think that's the intent. My question is just we made an assumption. How close to the assumption were we? Because when you change the percentage
when you set the percentages for us, we have to think of for the next 15 20 years, can we actually meet that? >> I'm not just only thinking about one year, but I can only give you the best estimate of one year. But then I really cannot guarantee going forward whether
we can meet >> just setting it up for a decision criteria around the $2. So, you know, it's like, well, we thought we were spending 606 69 and we ended up spending $180, then then we would know that there's this great deal of variability in
anticipation of what the cost, you know, at least was back there and and maybe help us in our decision- making for whether or not we would want to embrace a $2 charge moving forward. >> So, it's just looking at the variability
between Oh actuals and estimated >> careers and then and then perhaps that gives us a little bit of insight >> what would be your threshold >> I I don't think we can make that terminated yet >> what we asked for was scenarios right
>> yeah which we can look at I think what just Megan's getting at where you mentioned if saying at 55% created a need for us to go buy wrecks right and this year you'd want us to if the policy allows to come back and revisit that decision and maybe not do 55% if you had
to go buy Rex. Now, if you raise the 60% say everything lines and you're good with all the scenarios and we go to 60%. >> Next year, if we do our analysis, we're and we predict that we're already at a deficit and have to buy rents. Would you is >> I think the board would have to
>> Yeah, that's No, I think that's just what the question was. So, >> yeah, >> I just think it's it's a different that's a different question than what I'm asking, which Thank you, Rich, for reing. >> Yes. So $2 seems to be I don't know what's a good word for it.
You you are okay with it, right? Is $10 too much? I'm trying to gauge what >> like the board has not well decided to take a vote on it. So I don't think >> the range is between $2 and you know $60 and $110. So the range is already there
for a second. >> Yeah. >> The specific ask is let's look at what we assumed before. what we assumed before was around a $7. Well, if I'm doing it was around.7 cents per month average impact, so $8 or something a
year, right? So, the board voted for that. So, that's precedent, right? But what I'm asking is what was the actual impact? We made it a second. >> Yeah, we can definitely do that. >> Do that and then we bring it back. Like you guys put together these three scenarios. That's great. That's super
helpful. Let's understand that and what the kind of risk or range could be. And then I think we have a discussion as the board on what other scenarios we want to if we want to look at other scenarios or if we just want to talk about the lowest cost
scenario. >> I just [clears throat] I just want to say I think you did a good job on your uh presentation here. It's a nice summary of all the different racks and all the costs. You know, this metric, it's kind of a tough metric to determine
whether or not you're supporting renewable energy, which RMLD is supporting in a huge way. And that's a problem with intermittent resources. So, you can buy all the wind and solar and
hydro, but if it's not rainy, if it's cloudy, it's not windy, you're not going to be able to retire, but you but your goal is to retire. So I I just like that that's a tough one >> and I think that speaks to the need to probably change our policy that if we
are setting an expectation that's based on a certain set of assumptions if all of a sudden those assumptions aren't coming true and we have other risk then we need to understand that before we >> and on on the idea of risk it not only whether it exists or not but when it
falls because if it falls in the spring and that's when we have low demand then we bought a lot of power >> you don't need >> but we're Not we're not using it. >> Exactly. Um >> No. >> And we've had months where we've had a negative we purchased more power than we could sell to our customers because it
was spring and you didn't need the heat. You didn't need the cooling. Um and that's that's just the nature of the the uncertainty of a variable source and variable demand. >> Okay, we're at time on this topic. Anybody else have anything urgent
important to clarify? Are we supposed to come up with come back next month or another time? >> Uh I mean we have on our operating cadence that we will vote on this next month. So if we can have an update that next month on that specific question um
that would be great. >> Do you want to look at policy authority while doing this with the whole group in tandem or do you want to keep that? >> Um let's talk about that when we get to the if we're going to form a committee. I think that's probably one of the first
one the committee would be looking >> is something was looking back at what actually happened near >> that definitely can be done but are you expecting us to make a proposal in the February meeting >> I think it's present of >> I think it's the variations and what you presented here are the scenarios yeah
>> so we don't need to make make a recommendation >> I think we present yeah the different scenarios that we have here with >> present the analysis >> with the analysis of the one year of actual data >> compared to the estimate and then they're going to make a recommendation based on the data.
>> That makes sense. >> Great. Union negotiation dissolved. >> Okay. So um the I think this is might be the last piece of unit negotiation. So IBW was the first to settle and they did a a
threeyear going back the one year and then the other two unit settled after that with a one year uh plus a threeyear. So a portion of this uh MOA is to make that contract fall in line with the others. So readjust it so it's a one year then a threeyear. So that's
one piece. Um and then the other piece is around uh sick buyback language and FMLA language. So on the sick buyback, it uh eliminates um some stuff the need to for doctor's notes and stuff like that and it sets it if you take less
than 40 hours certain time of the year, you can do the buyback at the end of the year as opposed to doing some administrative work with some notes and some stuff. So that cleaned that language up um significantly. And then on the FMLA portion, it's it's allowing employees to take their time when
they're on an FMLA that they have to take their time, their sick, their vacation, and their personal where I think before they they didn't need to take they couldn't take their sick. So it just makes that a little bit more of the employee. So that's that's the summary of the basically the MOA. Um the
union has voted to ratify it. Um Paul signed it before he left. The last pieces you guys take a look at it. We have a motion here for you. Um, does anybody want to read the motions? >> Greg move that the armd board of
commissions vote to approve the executed supplemental memor memorandum of agreement between IBW local 103 and reading municipal department. >> Second, any further discussion on this?
>> Just one question. Um are the terms and uh of this contract pretty much identical for the other unions also in terms of the pay raises across? >> Uh pretty much um one of the other unions they they broke it up differently
within the group but basically same percentage overall. further questions. >> I I just want to add um appreciate the unions uh engaging us. Um it was uh took a while to kind of get to a place
where we could we could come to an understanding on rates, but um between uh settling on a rate, which I think gives uh the union members the value that they wanted and some of the the con conditions that they've wanted in the in the contract. um very pleased with the
settlement that we arrived at and and their willingness to work with us to get there. So um we want our people to be happy here and rewarded for the work that they do and I think we got there. So appreciate that for all the unions
that uh negotiated this this fall cycle. >> Ready to vote? All those in favor? Okay. Motion carries 5 Z request. [clears throat] >> So this current request um the team went
out to bid for um to get bids back for an hourly rate for underground contract work. So um within the bid they they used a certain number of hours to kind of to be able to determine who was the lowest bidder. Um there was three bids out of 16 um that's in the packet. Um
this is the lowest responsive bidder which is power line and it's really just to establish the hourly rate for as needed work. So there's nothing scheduled to go to them but if we do need them for something whether or not we don't have the the equipment to do it or the need or something comes up that
they're there and available and we can bring them in for this rate that's been negotiated or part of the bid I should say. Um the contracts for three years. Um, that's pretty much the summary of the contract. >> So, how does it work in terms of, you
know, we're we're approving this contract, there's an estimate of what the three-year value would be here. Is it that it as long as it stays within the estimate is fine or could it be any other? could be it could be any you in
order to just determine who was the lowest bidder they had to just bid on the same set of hour hours. So they gave them all the same hours to bid on to determine something to compare. But it's really just the hourly rates and as needed and and as the work dictates obviously um if it's capital projects
it's in the capital budget >> you know so it' be but it's within the budget there um it' be that type of work but it was an emergency it would be different but um it's really just >> as needed >> as needed just to walk in the rates. Uh, someone like to read the motion.
>> I just one one but Jason I I I know on here like it it says splice van. I don't know if that's uh so they're here for placing cable. You're you're we're supplying the material. They're going to place it um or they going to is there
material pass through here if you have them out out in here. It just it's a splicing van splicing journeyman like it's it's a splicer van. So, you know, there's no mention of like a cable pulling truck. Are those adders or anything they like trailers or adders? And
>> um >> um they may be adders. I I I don't have the specific of the actual wording of the bid. Um I there could be um things in the bid that they weren't used to calculate the lowest responsive bidder. So, these are the things. So, I I would assume not that I can assume, but yeah,
there'd be things in there for other pieces of equipment. But they're going to pull wire and they'd have to have to bring the trailer. >> Okay. >> Employment rate for that. >> Okay. So, this is just basically the hourly for for the employees. >> Yes. >> Okay. >> And then they had to and a way to try to
compare apples to apples. They just gave uh the same scenario to to the biders and then they bid on that and there are maybe other rates, but this is probably the most common rates that this would be used for. So that's probably what they with an estimated number of hours >> and their rates are the lowest across
board. >> Yes. At least for what they use for the for the analysis. >> Do do you have an estimate like you know you moving forward for how many hours or or what type of projects you have in
mind for these guys to engage with? Um, I haven't gotten there yet, but I mean it could be any cable installation tends, you know, cable replacements or new cable, um, any splices, any routine maintenance,
um, and stuff like that. Um, I don't think there's necessarily anything slated just yet. Um I do know looking at the capital budget um there could be a couple of large underground um projects specifically there on the Wington substation where maybe the the
capability better suits them than the equipment that we have in house. So that might be something that's targeted in the future but I I don't think that's there yet. >> So how would this correspond to any work that was done in the past year? Would had we used some other crew that did
something like this? So >> would that give you an estimate to >> Yeah. So Power Line had the contract the last three years, same company. Um in 2025, they only worked on the property for a couple months. So it's not probably indicative of of overall spend,
but um the two years prior to that it was around $500,000. >> But you think going forward it may actually be higher? >> I would say it falls somewhere between those two. >> Okay. still getting my hands around all the
work that's going on for this year. But >> been here two weeks. Come on. [laughter] >> But but just from experience and looking at what what's been done in the past, it's going to fall somewhere in between that. Most likely. >> No, but I'm just saying looking at the projects you have because you have some big projects coming. Yeah, I'm still
Yeah, like I said, the women substation might be something, but they might that I don't know what that's slated for. I'm still getting my hands around that project or when that's even going to be needed. It might not even be this year. It might be next year. It's definitely going to be within this three-year contract. I can tell you that [laughter]
hope >> a question about where it was advertised. What's combis? It's like the state site that all um bids all mass bids for chapter 339M have to go be posted on the state requirement. >> Okay, great. Because this it's a little
antiquated to say that we're publishing our notice in the Middle Sex East edition of the Daily Times Chronicle. Like is there [clears throat] even does that even exist anymore? You know, I maybe it does, but I don't think a lot of people are looking for underground
contracting work in the daily group like >> um those requirements I think are all come from the the mass bid laws. >> Sure. But the newspaper is some antiquated thing from 1952 at RMLD. One of the things we can fix in the policies maybe.
>> Oh, I don't know if that's a policy thing or if that's a state law. >> Sure. But I mean the local newspaper thing is a little Yeah. >> antiquated at this point. Yeah. >> And we had issues with that a bunch of years ago when it used to be that we only posted something in like the local paper for liquidating usable but surplus
trucks. Anyway, >> uh does anybody want to read the motion? >> Sure. I'll read it since >> Thanks. the uh to jump ahead of all the other people that would want to be uh move that IFB 2025-31
hourly rates for professional manpower vehicles, trade tools and equipment for underground electrical distribution construction and maintenance be awarded to Powerline Contractors Inc. pursuant to Mass General Laws chapter 30 section 39M
as the lowest responsible eligible bidder on the recommendation of the general manager. The contract uh is for a three-year term. >> Okay. Thanks. Any further discussion?
>> All those in favor? >> Thank you. >> Okay. Um yeah, next topic is uh our 2026 operating cadence. So this is attachment six in your packet. Um given we're at the beginning of the year, uh wanted to make sure everybody had visibility to
the various topics that we're covering. I know we've got some new um members as well. Um so this list here shows all of the different topics we expect to be on the board agendas month over month. Um
certainly other things may come up and we will add them to the agenda. Um but this is kind of the typical annual cadence. Um you can see in some cases when these are kind of our big big ticket items, things like the budget approval, the certificate retirement,
the annual goals, those are going to be two meeting topics. So we'll have one meeting to review and discuss and then the next meeting for any follow-up discussion and the vote. Um, I will say based on Megan's feedback on the timing of the certificate retirement rate, you
know, we've got review this month, vote next month. If in the future we want to change that, I'm sure the board will be open to that. So, it's a better point in time. Um, so just wanted to make sure folks were
aware of this um, schedule and we will stick to it as much as we can. And um as you as we talked about at the beginning, we're going to try to um have some additional structure to the meetings in terms of time limits um to make sure we
get through everything and um as well as frontloading uh any of Jason's staff who's going to be coming in so they don't have to sit through uh lengthy procurement discussions and things like that um until they go uh and and have their topic. Um, the one additional
thing I would say is sometimes we do have quite a few things on the agenda. Um, and we are getting this document out to folks at least a few days in advance. Usually, if it's a Tuesday meeting, it's going to get out on uh Thursday at the end of the day or Friday morning, which
should give everybody a chance to review it over the weekend hopefully. So, if I could just ask for, you know, I know stuff comes up, but if everybody could just take some time to pre-eread the materials, that will allow Jason's team, especially when they're presenting, to really just focus on the big items and
not necessarily have to read every slide. Um, and then we can just ask targeted questions where we want to have discussion, but not necessarily go through every single point. Um, so that those are some of the things that we've discussed about trying to
make our meetings a little uh more efficient and effective as well as uh planful for Jason's team. >> Did you say planful? >> I said planful. >> Right. >> Yeah. [clears throat] >> Good consultant word right there. >> Planful.
Um any questions or concerns either about the operating cadence or some of the kind of meeting structure elements? >> Policy review on there. >> So that is one of our next topics. Um policy review >> come up. Thought
>> we had policies. Yes. So we have a quarterly policy. It's underneath the BC the first section here. >> Okay. >> So we do have kind of like a quarterly vote. Um, and there is a proposed schedule of policy review, but we're going to talk about policy review
committee shortly, potentially adjust that schedule. Any other questions or comments on that? >> Okay, >> thank you, Pam. This is great. This is a good tool. >> Great. Um, okay. We're going to go next to
meeting minutes here. A minute ahead of schedule. Love it. [laughter] >> We're in full of view. >> Um, you want to start with the cab option? >> Can I get someone? >> Moved that the RMLD citizens advisory
board approved the following 2025 open session meeting minutes as presented on the recommendation of general manager and the board secretary December 17th. Any second? >> Second. >> Any discussion? >> No.
>> Okay. All in favor? >> I got to volunteer to read the motion. >> Oh, right. >> You go ahead. I >> y >> move that the RMLD board of commissions. There you go.
approve the following 2025 open session meeting minutes as presented on the recommendation of the general manager and the board secretary December 17th. >> Second. >> Yeah. Any discussion on this? >> Only that I I think Erin should get combat pay for her work. I think I got
eight or 10 sets of minutes over the last couple weeks. So I thought there'd be a bunch on here. I guess it'll be for next month. But anyway, that's all. to thank you Erin for wherever she may be. >> She's working on meeting minutes.
>> Yeah. So anyway, no that's it. >> Uh all those in favor. >> All right. Thank you. >> Carries. Okay. Uh the next topic is establishment and appointment of committees. Um so there are two
potential committees here. Um, I've had individual uh from both the the cab and the the board of commissioners just suggest that um the upcoming GM goals um potentially have a
subcommittee that gets together perhaps one or two members of the cab, two members of the board and talk through some of the key items we want to see on the GM goals for 2026. Um, if we are going to do that uh per the operating cadence, it would have to
happen pretty quickly because we would need a first draft of the goals by February by the February meeting. So that's um a pretty quick initial review and then in March is when we would do the um final review. And this would also be a committee that would partner with
Jason to talk through those goals to get his input as well and uh come to kind of an aligned recommendation to the board um on those goals. So the first request um is just to have discussion of or whether folks believe that that is
something that they would be interested in participating in or having that. If we didn't schedule or didn't set up a subcommittee, then it would really just be up to Jason to bring his recommended goals um to the board in February and then for us to review, provide feedback,
and then vote in March. So open for discussion if there's interest in a subcommittee on GM goals. I think it's a good idea to have one at least because can't do everything you know with all 10 of us here all the time
and you know it could take some thought. So >> okay >> so I think it's a good idea to have it and then Jason hopefully we don't disagree but yeah I mean if it's okay with you >> yes and you'd be there presumably to
help the discussion. >> I'm jammed out. >> Are you? >> Yeah. I'm sorry. I didn't hear that. >> I'm GM out. >> Okay. >> Not a taker. Not not a felt nominator. >> I'm not I'm not honestly I I I' I'd be I'd like to be on the other one, but uh
this one because I might want if if I was if you were to uh put me on the other one. I don't think I would want to be on both. >> Uhu. Okay. >> That's my thought. >> Are there others with interest on >> committ? I would be on the call for
committee. >> Would one of you be interested >> on the calls? I'll try. I'll do it. >> Okay. >> How about from the body who would have interest in it?
>> Nominate Pam. >> You're very nonquive here. >> Yeah. >> So, next meeting is on the 17th. So, that gives you one, two, three. Okay, that's about like a month, but really it'll have to be before the month to get the first draft done. Um,
>> probably could do in one meeting, one committee meeting, I would guess. >> If you have the goals from last year, >> yeah, you have the goals from last year, tweak them and yeah, >> it's just another Yeah, >> mean the alternative is if we don't have enough interest for a subcommittee is Jason leverages the goals from last year
as a starting point, do the review in February and vote in March without the subcommittee. That's not a bad idea. >> The starting point >> even if he wanted to do that this time and then part of the next >> for next year
>> because he's new it's >> y >> the stepping stone in the right direction towards how we're going to guide it all into there. >> Okay. So maybe I'm hearing we don't have a lot of interest in doing the
subcommittee for goals. Um but instead we would stick with the schedule of you'd bring your proposal in February. We discuss let's allow enough time on the agenda to have a media discussion about that. Yes, Rich. Yeah, I was just going to say I or just observe that I
think part of the unwillingness to dive into the goals thing is that it needs to be done so fast and the next three weeks just people may have I know my calendar's booked and I'm traveling a lot and so I I I wouldn't want to put the idea to bed
uh entirely. So yeah, I guess just sort of stating that that the next opportunity that comes around, >> I think so from an organizational structure point of view, it's good to have I think maybe subcommittees. >> Uh let's go ahead with the subcommittee for the policies
>> and come back to the a subcommittee for reviews. Yeah. >> So, so let's create the subcommittees and skip the meeting for the first time >> but use a subcommittee for reviews >> without named participants.
>> Yeah. And then just whenever you are ready to do that then at that meeting just name just >> Yeah. >> So we are willing to name people right now so far. So submit. >> Okay. I'm I'm I'm gonna hold on asking the board of commissioners to name. Um so I think that's a great idea. Let's
let's create the subcommittee understand the timing. Um perhaps what we do is the review of the goal performance starts in November. Um so maybe we ask for volunteers for the subcommittee in October.
>> So that way we know and then there's opportunity for multiple meetings before we do a setting of new goals beginning of 2027. All right. So if that's the case then the cab can start with a motion to
establish the subcommittee. >> Yeah. So read motion. >> Yeah. >> Move that citizen advisory board appoint >> to serve on the GM goals and review committee.
>> Second. Second. Okay. All >> favor. Hi. >> Hi. [clears throat] >> Question. >> Sorry. I think we have to establish the committee first and then >> Okay, >> that was my fault. >> I jumped. >> If we don't have members on our side
yet, do you have a committee? You know what I'm saying? Yeah. >> I have to ask. >> So, you can create the subcommittee. >> Okay. Go in any game later on. Okay. >> So, why don't we do this? Let's just have the board of commissioners do the first motion. >> We've already done our motion. >> You've done yours, but we'll have to do
it again. I'm not sure. Anyway, >> one other just one other quick idea before we do that is that instead of doing the subcommittee whole thing in the next two months or whatever, just you if needed, you could have you could call a quick 30 minute meeting to prep us for the February meeting like a phone
a Zoom meeting where we kind of pre-digest and then we're ready in the February meeting. I'm just saying you could you don't have to do all this now. >> Yeah. Well, I think we agreed we'll establish a subcommittee >> for the purposes of next year's process. >> For next year's process. Okay.
>> Um and then >> and also the review for this year because you'll do the review at the end of the year. So you can use subcommittee for the review. >> Oh, okay. >> Because you'll have the goals set up and then you you can do the subcommittee. So you've just set it up. So >> I'm sorry.
>> Um right. So it'll be set up for that process and then um >> my suggestion is perhaps the goals the initial goals Jason from you come out a little sooner than a couple days before
to give everybody a chance to digest them. Um okay so let's do the suggested motion just for establishing the committee please. >> I'll read it. >> Thank you. Move that the RMLD board of commissioners establish the RMLD GM
goals and review committee and appoint two board of commissioners and two citizens advisory board members. >> Second. >> All those in favor? Okay. Car zero. So we will hold on the
appointment until October. >> Do we have different movers by then? Probably not. >> Who knows? and you go on a motion. >> Okay. >> All right. >> Okay. And then the second one is the policy review committee. So, as we
looked at on our operating cadence, we're going to be doing a quarterly review of policies. Uh there is already kind of a list. You don't have the list of policies in the review schedule in this packet. Right >> uh
>> that's okay if if not, but um there is a list of policies um and the last time they were updated. uh the recommended frequency of update. Um but this would be something that would um the subcommittee could review, make modifications, spring um
recommendations. Um this is not going to be the intent is not that this is like a redlinining committee. Okay, this is these are the kind of like the key messages, key changes, things to consider that the the
subcommittee wants to pursue. the um the general manager and his support staff would do the necessary red lines to meet that recommendation. We would then review and approve that they met the recommendation. >> Okay. Yes.
>> There was a significant change from p procedures and policies over the last couple of years. A lot of lift and shift. Is there any way possible um that we can see what the lift and shift was
as a reminder that was things that were previously policies were moved into operating procedures and um just in case there's an appetite to return them back to policy.
So, in my list, if this is helpful, Bob, um, in the kind of spreadsheet I have for it, I'll list policies that were dissolved and I'll note which ones became procedures or if which portions became procedures or something like that. So, you can kind of start with that dive in. >> Yeah, because we started with 30. I
think we're down to 19ish somewhere around that. I'm not even too sure. >> 30 plus still. >> I thought we knocked off a few more, but thank you. and I can send this sheet to everyone following the meeting. >> Be great. Thank you. >> Thank you.
>> Um, so any discussion regarding establishing this subcommittee with two BOC members and two CAP members? >> We've identified. >> Okay. Yes,
>> we have volunteers. I heard some volunteers for a policy. >> I would certainly Yeah. >> Okay. Do we have more than two volunteers? I I wouldn't I I'd be interested in participating. >> Okay. [laughter] >> We can alternate, too. As long as
there's not three of us there, then >> Yeah. I mean, I I I guess the first cut and and you two can make the first cut in terms of what we think we want to highlight. And I I think maybe something that evolves over the course of the time depending on the policy and whatever but
>> and you'll u as part of the role of the subcommittee would be doing a an update at each of our BOC meetings. Um so if you can keep the group apprised of decisions or progress so that they can weigh in. I mean, I think the discuss, my
understanding is the discussion that would happen outside of regular meeting would just involve two members, but it doesn't have to do with maybe the same two members depending on what it is that's being reviewed specifically. And I think we might be able to adjust that as we go. Like here's here's our first
cut. These are the things we want to look at and you want to look at some and I want to look at something different. Maybe we can switch off and >> yeah I think I think >> the way committees work though is there there's two members you can't have three >> right that's what I mean >> the third the third fourth or fifth can be there if if you've called as a
>> covering thing full board meeting to cover the >> the contingency of of of the quorum showing up so that officially it's posted that way as as many of us could be there as want to be there. Well, >> so you could do that or we could we could structure the cadence of the
policy reviews where it's here's the group that Ray wants to look at. Let's do that Q1. Here's the group that Dave wants to look at. Let's we can do those Q2 and we can change the membership as well. >> Sure. You change the membership down the road. Sure. >> I mean, even where you can start is if
you take a peek at on that table, then at that first meeting, you can say, "Okay, here's like what the committee is going to do. bring it back to the board, get your feedback, and then bring it back to the committee to do that kind of work and drill down. So, you're still getting everyone's input, too. >> I think that's
>> Yeah, she said [laughter] >> because I know like some policies were reviewed last year and then there was a plan and some had been reviewed in the past and there was supposed to be a cadence for review of those policies. So, so, so that would be a good starting
point, right? So that's the starting point and then we can see if we need to change that order and then work from that. >> Yes. >> And just to just to I know that this came up from the uh the previous committee. I don't even remember what the name of our committee was now but
anyway it came up in that uh discussion and I think a lot of the reason for it was overlapping policies contradictory policies. So, it's I think it's probably more than just a matter of taking these five and looking to see whether or not
you want to update them. It it's sort of the whole picture. >> Look for where things are contradictory, where they're overlapping, where we can clean out some and sort of create a cleaner set. >> Okay. >> I think formally you you just name
committee members. That's how it works. As chair, you name who they the members are. >> Okay. I'm seeing we have official motion >> maybe but I think if if we read the our whatever the charter is that our board policy says that chair names committee
members >> we can ask ask for >> course yeah >> you let's do the motion to establish the policy review committee first who would like to read that >> I'll do it
>> move that the RMLD board of commissioners establish the RMLD the policy review committee and appoint two board of commissioners and two citizens advisory board members. >> Thanks. >> I'll second it. >> All those in favor?
>> Right. Zero. Um Okay. And then in terms of appointments, >> anybody have a strong certainly I've been on the board the longest. I've seen it been through a few of these revisions and a few other things. So it adds it
value. Okay. >> Um and I or Bob can >> Yeah. >> Whether we are named in this >> uh motion or or whatever >> with the understanding that we're >> we would just have two in any one
session going over whatever specific policies we >> and again if there's interest like Dave said he's right. We could just call an open >> right be I >> I think I may be wrong. I think there there has to be two members named and then >> we'll name two members.
>> Yeah. Yeah, that's all. And then you can change it later. >> We can do the motion with with Dave and Ray. >> Um >> and I don't I don't know if you can name an alternate. >> I if we can I would love if you were the alternate. >> Yeah. >> Or >> Yes. >> I would like all of us to be able to comm
[laughter] >> if we only hold the surf. Um, so Branch, since you're the only one whose name is not uh >> Yeah, I'll read it. >> Thank you. >> Move that the RMLD board of
commissioners appoint Dave and Ray >> uh to serve on the RMLD policy review committee >> with Bob as the alternate >> with Bob as the alternate. I would be curious why we had these
motions. I do think it's it's just the chair has the power to just form committees and name people to them. But >> okay, >> just as an aside, >> I like to be super inclusive, so we're >> very planny. >> Um, all right. Second. >> Second. >> All right. All those in favor.
>> Thank you. >> Citizens advisory board. Uh, move that the citizens advisory board appoint. Castle >> Bob Castle to be serve in the RMD policy re review committee.
>> You second. >> Okay. All those in favor? >> I call that green team. >> Green team be a rock and policy review board. >> Okay. Uh any board of directors appointment Jason?
>> Yes. Um I don't have a lot to say on this but um as because as because it's happened a couple times in the last six months but essentially um as writing and carving need um they have a board seat and um we need to have the the motion to appoint myself to the to that board um
phone call. >> Anyone like to read the motion? >> Sure. I'll read it. I have a chance to read any motions tonight. >> Very excited about reading motions. All right. Sue it to section 32 of the operating agreement of Energy New England. The Reading Municipal Light
Department Board of Commissioners hereby appoints Jason Small, our new general manager as a class B director of Energy New England to LLC board of directors for a term of three years. >> Second. >> Any discussion?
All those in favor? >> Congratulations, Jason. >> Congratulations. >> Wrapping up the appointment. What's the difference? Class B and class A. >> I I honestly do not know. Okay. >> I think the original original A
>> I think I think the original they want more shares. >> All right. Uh training and travel approval. >> I think you have a few uh >> well we I guess we have a few. There's the MMA MLCA connect which is I think
this Friday or this coming weekend which a few people are going to. >> Yeah. So, this one we actually have Ray and Dave um registered for. >> If someone decides they want to attend and it gets approved, um let me know. I can still register you in person.
>> Do we have any >> any additional interest besides Right. Dave? >> Yeah. >> Why did you you asked me in an email which days I was going and there was a reason for that? I forget what the reason was. >> Yeah. So basically the reason was that
there was just an extra pay dinner and I didn't know if you're going to want to go that day. >> Okay. >> Um but the conference amount was the same no matter how many days or so I figured I just signed you up the whole thing. >> Oh, okay. Great. Thanks. >> I didn't know there was a higher cost to RMLD or something but there's not
>> or nothing in the case of Ray driving. >> Yeah. >> Car pooling. Okay. Um Bob, would you mind reading? >> Oh, my turn. Move that the Armend board of commissioners approve for Raymond Porter and David Talbot to attend the
MMA/MLCA Connect 351 to take place January 23rd through 25th, 2026 at the Manino Convention and Exhibition Center in Boston, Massachusetts. >> Second. >> Second.
>> All those in favor? >> Look forward to hearing the debrief our future meeting. I could go. >> Um and then we have the APA ENO conference. >> Yes. So, um yeah, just to remind everybody, I'm on
the APA RP3 uh application panel. Um RP3 stand for reliable public power provider. It's a certification that municipal utilities can get. They apply through the APA. Um they get reviewed in four areas. Um and then if they meet
certain criteria and they score well then they get designated. Currently reading is a diamond me uh certification level which is the highest level. Um so that they have a yearly uh meeting for the panel at the beginning of of the ENL
conference. So I'd like to attend that as being a member on the panel. Um it does provide a lot of good value. Um a lot of the the criteria of the applications is around best business practices and system improvement, workforce development, reliability and safety. So you get to review a lot of
these applications and you get to see what other utilities are doing and you can kind of learn from that and take stuff back as well as it's a like a 20 person panel from across the country. So you get you get good network connections from other utilities across the country not just necessarily local like network. Um so with that and then of course
there's the conference and all the topics which I think was in the packet which I'll attend that stuff and I can come back and that stuff as well but um that's primarily why um attending that conference. >> You couldn't find another place in Huntsville, Alabama.
[laughter] >> Can you vote for yourself? >> It couldn't. >> Can you vote for yourself now? You're running late. Can you vote for light? >> No. So for instance, >> um Danvers is in this last application for this 2025 that's going to get announced at this conference. Um I could
not vote on that. I could not resume that application and approve it. So and I actually abstained from any uh any [clears throat] um local municipal that was applying since I know a lot of the people in those I was and a lot of the other members did the same thing in their area. So but I actually can't even
see the application. They they set it up in the the on the online that you can't even see your own. Makes sense. >> Um, we have someone read the motion. >> Yes. Right. moved that the RMLD board of commissions approve Jason Small's travel
to and attendance at the 2026 American Public Power Association exhibition and ENO conference to take place on March uh 29th through April 1st, April Fool's Day um 2026 at the Von
Brown Center in Hudson Huntsville, Alabama. >> Second. >> Second. All those in favor? Okay. 5 Z. Excellent. Update time.
>> Um I'll be brief since I've only been here for for two weeks. Um so I don't have a lot to update on, but um first I just want to um recognize Paul for what he did. I wasn't at the December meeting when you guys did that. So I just want to formally for myself recognize all the
work that he did in his short time here. Um, I couldn't have asked for a better transition. Um, as him outgoing on me coming in. Um, he gave me all the time I needed. Um, he gave me a ton of information, made sure I was included on decisions that had lasting effect into
my tenure. So, I just want to recognize Paul for the great work he did and and really helping with my transition to get off on the right foot. So, just sort of start with that. Um, my two weeks have been busy meeting the staff. So, I've had a lot of meetings. Um, I've had a senior management meeting um with them.
First first week I held an all all hands meeting with the entire staff where they all came into the cafeteria and introduced myself and had and had some conversations with different groups as we sat at the tables. And then I've had um I'd say small like one-on-one or one
to two three people down to the like the supervisory level of each of the the varying departments just to get an understanding of everything's that everything everybody's working on and what they're seeing. And I'm starting to get my feet on the ground and starting to get around events going. But um my first two weeks have been really busy
just meeting everybody um and getting to know and get to know some people. Um, with that, I did want to give a couple of little updates that I know, uh, last month Paul gave an update on the AMI project. Uh, we currently, uh, I think it was last week installed 40 meters
test. So, there's been some progress. Um, there's still working out a couple issues between getting it into the billing system. Um, but we continue to have a couple meetings a week on that and it's very, very close. Hopefully, will be resolved soon. And
then the other thing is I know uh it was mentioned during the budget season was the cost of service study. I've had those discussions with senior management and I think within the next month we'll be reaching out to several vendors to get to discuss this the study and to
work on getting proposals from the vendors and then deciding which one we want to move forward with. But my thought would be that within the first three or three to five months, we'd probably have a draft report back from now from it would take a two to three months for them to work on it and if we
get a draft and that and have some recommendations before the board um just before we have to start internally looking at the budget. I know the budget goes October, but start working on it around the July time frame internally. So I'd like to have the results of the
study before we start looking at next year's budget. Um, so that we have something in front of you. But that's that's the plan on the cost of service study. That's pretty much what I have. >> Excellent. Thanks, Jason. Any questions or
>> Thank you, Jason. >> Yeah, thank you. >> Okay. Uh, so scheduling looks like we have meetings pretty much uh scheduled out for the remainder of the year. Um, I don't know if folks have their calendars now, but if we can just
take a look at the calendar, make sure these work. Does anybody have any major conflicts that we know of at this point? >> I think August one. Yeah, that got moved, right? Yeah. >> August there was a potential clash, right?
>> With contract. Yeah. Yeah. Yeah. >> So, that was moved up or that needs to be moved. >> I think we're just going to remove it. >> We're just going to cancel it. Okay. Um similar discussion around December.
>> Feels like December we have a lot. >> There's a lot >> that we have to do. So I think we would keep that >> 15th is okay. >> I'm out on the uh March 24th meeting. I I'm busy. I won't be there that week. >> Okay. >> So that's okay. I want to change the
cadence. >> No. No. >> Okay. I can hear that. >> Um, that will be the meeting. That will be the goals vote. >> Forgetting the budget. That's October,
right? >> Coordinate the Lynfield meeting room. You you mentioned >> Yes. And we will Erin and I will reach out to you about that. >> Okay. Okay. >> No, we're good. Great. Um,
>> schedule up um the sorry these committee meetings. Maybe what do you guys want to schedule policy committee meeting over here? >> Hello. >> I'm I'm working from home mostly so I'm
around the next couple weeks. So any you guys want to pick a day next week? >> All right. Okay. I mean whatever. Next two weeks, David, I'm sorry. I'm traveling. Next two weeks are bad for me. I'm good after that. >> Okay. >> Uh yeah, next week for me is pretty busy. So I early February gives me a lot
more choices. >> Uh February 8th onwards works for me. >> February 8th >> onwards [clears throat] >> onward 10th. >> Okay. I mean it's up to you guys. I'm >> Yeah, >> we can do these in the past. Sometimes
um board members have found doing them like early in the morning was really good. You can do these during lunch. Like we can be flex with the committee meetings. Um >> yeah, >> that I'm out of the country. >> Anytime any meeting >> if it if it's February 8th that it's February 8th? >> Yeah.
>> Yeah. I'm just I'm traveling the beginning of that week. So >> So what's 11 12 13 would be fine with me. >> Okay. >> Yeah. Ready? No, we we we've did noon um in the in the past and you know whether
you use a half an hour and just easy eat sandwich. >> February 12th is good. February >> Yeah. So that >> so let America can we choose the time on February 12th? >> February 12th. >> We'll figure out you between you and I. Let's throw fingers. Yep. >> I'm sorry.
>> Scissors. >> Yes. >> And >> thank you. >> So for noon. >> Yeah. And Pam, would you mind calling also calling just to cover the contingency of a third member call of general board
meeting in case a third shows up? >> Yes. >> So called. >> Only thing we have left to decide is what we're ordering for lunch. [laughter] >> All right. >> Sorry, we'll talk about this. Um, since you're not going to have a chair
anything picked for the first meeting, I'll just do it kind of how we've done the other one, like committee structure and then policy table. >> Yeah. And then we have to name that name that chair. >> Will you be able to attend, Jason? >> Yes. I just looked. I should be able to.
As of right now, I'm here. Walk it off. Yeah. Excellent. Nothing left to do except >> journ the RMLD citizens advisory board adjourn regular session. Roll call vote required.
>> Second. >> All in favor. Hi, >> Vivony. I >> Tim Woods, >> Charlie Castle. I >> move that the RMLD board of commissioners adjourn regular session not uh regular session note. Roll call
vote required. >> Second. Okay. >> I reporter I sw I direct. >> Thank you everyone. Did we make time? >> Eight minutes there.
>> Recording stopped. Must be yours.