MOUNTAIN PARKS ELECTRIC, INC.
Regular Meeting of the Board of Directors
Kremmling Area Chamber of Commerce
203 Park Ave, Kremmling, Colorado
August 13, 2026
8:00 A.M.
Attendance
Present: Liz McIntyre, Justin Fosha, Cray Healy, Mark Volt, Ty Wattenberg, Ryan Zorn, Mike Sjobakken, Virginia Harman, Wade Pynes, Jodi King, Adam Paulson, Aaron Street, Joe Palmer, Eric Jones, Angie Wallace, Abbey Brower, Williamson Lowery Fredregill, and Bryson Fredregill attended in person. Sue Henderson attended virtually. Joe Palmer was not present.
Call to Order
President Liz McIntyre called the meeting to order at 8:00 a.m.
Determination of Quorum
A quorum was declared.
Public Comment
The following members entered the meeting in person: Cindy and Hoppe Southway, Dennis Carpenter, John Taylor, Noble Underbrink, Rick Rosene, Jeremy Krones, and Brad White with Grand County Wildfire Council (GCWC).
The following entered the meeting remotely: Brooklynn Weber an NPHS graduate, Jessica Rahn with GCWC, and Emma Trailor and Melissa Merrit with Blue Forest.
Jessica Rahn and Brad White spoke to the Board about various GCWC programs and then spoke specifically about the GCWC Community Wildfire Defense Grant – West Granby Fuels Corridor. The GCWC previously submitted an unclaimed capital credit fund request to MPEI for this project. Emma Trailor and Melissa Merrit provided additional information highlighting the goals and benefits of the project and how the proposed treatment will affect wildfire behavior.
Aaron Street introduced Brooklynn Weber as a scholarship recipient. Weber spoke with the Board about her future plans and career goals.
Jeremy Krone, Grand Lake resident, introduced himself and explained that he is running for Grand County District 3 Commissioner.
Dennis Carpenter addressed the Board regarding office hours, the Walden solar farm, overhead versus underground lines, and line extensions.
CONSENT AGENDA
The Consent Agenda contained the following items:
Minutes of July 9, 2026, Meeting of the Board of Directors
Bills for Payment
MOTION: It was properly moved, seconded, and carried to approve the consent agenda as presented.
All members of the public left the meeting.
New Business
Action Items
Power Supply RFP
MOTION: It was properly moved, seconded, and carried to enter executive session at 8:53 a.m. for confidential and privileged discussion regarding power supply. All directors present at the meeting, Virginia Harman, Wade Pynes, Adam Paulson, Eric Jones, Attorney Fredregill and Attorney Brower were present for the entire executive session.
President McIntyre recessed the meeting at 10:09 a.m. and then reconvened the meeting at 10:26 a.m.
MOTION: It was properly moved, seconded, and carried to exit executive session at 11:59 a.m.
MOTION: It was properly moved, seconded, and carried to reject the July 2026 proposal from Guzman as not being in the best interest of MPEI members.
MOTION: It was properly moved, seconded, and carried that Virginia Harman, CEO, be authorized to negotiate and execute “option #2” for capacity under the terms discussed in executive session.
MOTION: It was properly moved, seconded, and carried that Virginia Harman, CEO, be authorized to engage special counsel under the terms discussed in executive session.
President McIntyre recessed the meeting at 12:02 p.m. and reconvened the meeting at 12:43 p.m.
Taylor Ward and Tony Bogolub with CREA entered the meeting at 12:43 p.m.
New Business
Discussion Items
CARE Initiatives Program
Taylor Ward the Director of Government Relations at CREA presented on the CARE program and briefly discussed the wildfire liability legislation that will be proposed for the next legislative session. Ward also introduced Tony Bogolub the new Government Relations Coordinator at CREA.
Department Reports
Operations Report
Adam Paulson presented the Operations Report. Paulson reported on outages and explained that SAIDI numbers are improved compared to last year. Paulson reported that lightning hit a transformer at the McKenzie substation, causing an outage. The lineman responding to the outage prioritized safety and deenergized the relevant infrastructure before making repairs. Paulson reported that the high sensitivity fire settings have been working well. Paulson reported that crews are busy and that he is three lineman short on the Granby Line Crew.
Engineering Report
Viriginia Harman referred to the Engineering Report prepared by Sue Henderson and offered to answer questions. Harman briefly reported on SPP energy emergency alerts and associated MPEI strategy. Harman briefly reported on road cuts and explained that costs have increased significantly for line extensions and service installations when a road cut is needed.
Finance Report
Information Technology (IT) Report
Virginia Harman referred to the Information Technology report prepared by Joe Palmer and offered to answer questions.
Human Resources, Safety, and Administration Report
Angie Wallace presented the Human Resources, Safety, and Administration Report. Wallace answered questions about the new Enterprise Software Administrator position. President McIntyre thanked Wallace for her efforts on the Emergency Action Plan.
Member Relations and Communications Report
Aaron Street presented the Member Relations and Communications Report. Street reported that the member relations team is being responsive to member concerns about wildfire season, high sensitivity fire settings, and outages. Street reported that the member relations team has reached out to all members who have submitted complaints. Street highlighted a story from the August newsletter comparing the 2025 and 2026 fire seasons. He also reported that there will be stories on SPP and RTOs as well as protecting home appliances from outages in the September newsletter.
President McIntyre recessed the meeting at 1:43 p.m. and reconvened the meeting at 1:47 p.m.
New Business
Action Items
Accounting Treatment of 2025 Discount of TSGT Capital Credits
Eric Jones presented on the options for treatment of the amount by which MPEI’s TSGT capital credits were discounted due to the early retirement of such capital credits arising from MPEI’s exit from TSGT. Jones presented a detailed memorandum to the Board, which provided three options for the accounting treatment of the discount amount. Option One, “Retire at Discount,” involves retiring each member’s outstanding G&T capital credits at a discount proportional to that incurred by MPEI, which is consistent with how MPE discounts other early retirements to members. Option Two, “Regulatory Asset,” involves treating the discount amount as a cost of the TSGT exit and defer it into the existing TSGT regulatory asset amortizing over the next 20 years. Option Three, “Leave in Operating Margins – Prior Years,” to take no action and leave in operating margins – prior years. Staff and the Finance Committee recommended option one “Retire at Discount.” Discussion took place.
MOTION: It was properly moved, seconded, and carried to adopt the staff and Finance Committee recommended Option One, “Retire at Discount.”
Accounting Treatment of 2025 Loss
Eric Jones presented on the options for treatment of the 2025 loss. Jones presented a detailed memorandum to the Board, which provided two options for such accounting treatment. Option One, “Leave in Operating Margins – Prior Years,” involves leaving $3.5 million at the collective (unallocated) level, to be absorbed against margins over the next couple of years. Option Two, “Negative Allocation,” involves performing a negative allocation of $3.5 million applied specifically to 2025. Staff, the Finance Committee, and the auditor recommended Option One, “Leave in Operating Margins – Prior Years,” which maintains the status quo from the accounting perspective.
MOTION: It was properly moved, seconded, and carried to adopt the staff, the Finance Committee, and the auditor recommendation Option One, “Leave in Operating Margins – Prior Years.”
Policies C4 – Scholarship Program and D4 – Directors’ Attendance at Meetings and Compensation
President McIntyre presented Policy C4 – Scholarship Program and Policy D4 – Directors’ Attendance at Meetings and Compensation.
MOTION: It was properly moved, seconded, and carried to adopt policy C4 and policy D4 as presented.
Board Open Forum, Committee Reports, Association Reports
The executive committee met in July to discuss policy D4.
The finance committee met in July to review the accounting treatment recommendations.
The member relations committee did not meet.
Ryan Zorn reported on the most recent CREA virtual meeting. Zorn explained that the CREA Board is exploring parametric insurance as an additional resource for wildfire liability.
Mark Volt reported that the next Western United meeting is on August 27, 2026. Volt referred to the financial report and explained that sales are down 6.3%.
Upcoming Events
The NRECA Regional meeting is October 5 – 7, 2026, in Salt Lake City, UT.
The CREA Innovations Summit is October 31 – November 3, 2026, in Denver, CO.
Winter School for Directors is December11 – 15, 2026, in Nashville, TN.
Old Business
Unclaimed Capital Credit Requests
President McIntyre presented the unclaimed capital credit request from GCWC and referred to the presentation during public comment. The Board discussed that the GCWC is strategically prioritizing specific areas that will slow the spread of a wildfire in the area.
MOTION: It was properly moved, seconded, and carried to approve the GCWC’s request for $20,000.00.
Liability Insurance
Cray Healy sought an update from staff on purchasing additional insurance for MPE and for directors. Jones reported his research thus far on supplemental coverage for cybersecurity wildfire. Discussion took place. Jones will report his full research and specific amounts of coverage and costs thereof during the September board meeting.
Attorney Report
Attorney Bryson Fredregill referred to his written report.
CEO’s Report
CEO Harman referred to her written report.
Executive Session
MOTION: It was properly moved, seconded, and carried to enter into executive session at 2:25 p.m. for confidential discussion regarding the strategic plan, legal matters, employee matters, and information technology matters, with the following present: all directors present at the meeting, Virginia Harman, Wade Pynes, Adam Paulson, Bryson Fredregill, and Abbey Brower. Ty Wattenberg was not present during the confidential discussion regarding information technology matters.
MOTION: It was properly moved, seconded, and carried to exit executive session at 3:30 p.m.
MOTION: It was properly moved, seconded, and carried to approve the strategic plan for 2026 to 2029 as presented during executive session.
The meeting adjourned at 3:30 p.m.