Regular Meeting of the Board of Directors
of
Vermont Electric Cooperative, Inc.
To be Held September 28, 2010 at 12:00 Noon in the RPN Boardroom
At VEC offices in Johnson, Vermont

1. Call to Order
12:00 p.m.    

2.  Regular 8-31-2010 BOD Minutes - Board Action Requested: Approve Minutes
12:00 p.m. – 12:15 p.m. 

3. CEO Summary – Discussion Only:
12:15 p.m. – 12:30 p.m.  
1.  Highlights of the agenda – timing - importance 

4. Manager’s Update – Discussion Only, unless otherwise noted below:
12:30 p.m. – 1:30 p.m.                                   

1. Financial update
   1. Summary of financials
   2. Post-retirement health care issues
   3. 2011 rate case and budget preview
2. Operation’s update
   1. Capital spending overview
   2. Ten-year capital planning update
   3. 2011 capital budget preview
   4. VELCO Jay Tap project update
   5. Richford land sale (resolution at October VEC B.O.D. meeting)
3. Government relations and smart grid
   1. Consumer Behavior Study Plan overview
   2. VEIC contract for shared services (DOE Smart Grid) – Board Action Requested: Approve contract
   3. Overview of Vtel agreement for shared fiber
4. Corporate Services
   1. Member survey results 

5. Break (1:30 p.m. – 1:45 p.m.)

6. Kingdom Community Wind
1:45 p.m. – 2:45 p.m. 

1. Purchase Power Agreement (PPA) – Board Action Required: Approve PPA
2. Joint Ownership Agreement (JOA) - Board Action Required: Approve JOA

Note: Vicki Brown will be available via telephone for this discussion

7. Committee Reports
2:45 – 3:00 p.m.  

1. Governance committee – presentation of final harassment policy and bylaw changes – Board Action Required: Approve policy and bylaw change recommendation 

8. Strategic Planning – Discussion Only:
3:00 p.m. – 4:00 p.m.    

1.  Board Discussion  - we may extend this meeting to a date certain to complete the work – depending on how things progress             

9. Other business           

10. Parking lot issues 

11. Adjourn (or recess)