MOUNTAIN PARKS ELECTRIC, INC.
Regular Meeting of the Board of Directors
Granby, Colorado
February 19, 2026
8:00 A.M.
Attendance
Present: Liz McIntyre, Cray Healy, Mark Volt, Ty Wattenberg, Mike Sjobaken, Justin Fosha, Virginia Harman, Jodi King, Joe Palmer, Wade Pynes, Adam Paulson, Aaron Street, Sue Henderson, Eric Jones, and Attorney Bryson Fredregill, attended in person. Ryan Zorn attended virtually and Angie Wallace was not present.
Call to Order
President Liz McIntyre called the meeting to order at 7:59 a.m.
Determination of Quorum
A quorum was declared.
Public Comment
There were no member comments.
CONSENT AGENDA
The Consent Agenda contained the following items:
Minutes of January 8, 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.
Operations Report
Adam Paulson presented the Operations Report. Paulson reported that MPE has received the pole order for Walden. He discussed the process developed for replacing poles identified by the drone inspection, with installation scheduled to begin in March. Paulson provided an update on Conexon’s fiber build-out plan. Paulson further reported Operations continues to work on fire settings for fire season and training the operations team for different situations.
Engineering Report
Sue Henderson presented the Engineering Report. Henderson reported the Master Plan permits from the USFS should be completed by November 2026, and the Long Range Work Plan is moving forward. Henderson discussed system statistics with a focus on system peak. She also discussed trends with respect to heating degree days and demand.
Finance Report
Information Technology (IT) Report
Joe Palmer presented the Information Technology report. Palmer reported that MPE will be exploring a new cyber security infrastructure evaluation model through the Department of Energy this year.
Human Resources, Safety, and Administration Report
Virginia Harman referred to the Human Resources, Safety, and Administration report prepared by Angie Wallace and offered to answer questions.
Member Relations and Communications Report
Aaron Street presented the Member Relations and Communications Report. Street provided an update on New ERA and DHSEM grants, including an encouraging notice of progress with respect to the New ERA grant. He also reported on communications with members on MPE’s ETS rate. Additionally, Street reviewed the ACSI survey results.
New Business
Action Items
Budget Amendment
Adam Paulson presented the budget amendment in the amount of $1,000,000.00 for poles identified for replacement in North Park. Discussion took place.
MOTION: It was properly moved, seconded, and carried to approve the budget amendment as presented.
Authorize Audit Committee
President Liz McIntyre led the discussion regarding the 2026 audit committee. Discussion took place.
MOTION: It was properly moved, seconded, and carried to appoint the Board of Directors as the audit committee.
Tariff Changes
Aaron Street presented a revision to tariff section 202.11 and discussed the changes to the tariff. Discussion took place.
MOTION: It was properly moved, seconded, and carried to approve Tariff 202.11 as presented.
Approve CARE Program Investment for 2026
Aaron Street presented the proposed CARE program investment for 2026 and discussed that it is part of the New ERA community benefit plans. The program improves energy-efficiency for 12 income-qualified homes within the territory. Discussion took place.
MOTION: It was properly moved, seconded, and carried to approve $40,000.00 in funding from the Unclaimed Capital Credits fund for the Energy Outreach Colorado’s CARE Program to provide up to 12 area households with energy-efficiency improvements.
Appoint 2026 Election Supervisory Committee
Aaron Street presented the proposed 2026 Election Supervisory Committee. Discussion took place and included the addition of another alternate.
MOTION: It was properly moved, seconded, and carried to appoint the 2026 Election Supervisory Committee as revised.
Authorize Use of Mail-in Ballots
Aaron Street presented the use of mail-in ballots for the 2026 Annual Meeting. Discussion took place.
MOTION: It was properly moved, seconded, and carried to authorize the use of mail-in ballots for the 2026 Annual Meeting.
Establish a Record Date for Determination of Members Eligible to Vote at Annual Meeting, Including Election of Directors
Aaron Street recommended establishing February 23, 2026, as the record date for determination of members eligible to vote at the 2026 Annual Meeting, including election of directors.
MOTION: It was properly moved, seconded, and carried to establish February 23, 2026, as the date of record for determining members entitled to vote at the Annual Meeting of members on May 2, 2026
President McIntyre recessed the meeting at 9:26 a.m. and reconvened the meeting at 9:41 a.m.
Board Open Forum, Committee Reports, Association Reports
There were no committee meetings.
Ryan Zorn reported the CREA Annual Meeting was well attended, and the transition with the new director is going well. Zorn noted there are a lot of legislative issues currently happening and that he attended a day at the Capital for a panel discussion.
Mark Volt attended the Western United meeting on January 22, 2026. He reported that Western United’s membership has expanded to Kansas and Idaho. Volt asked the Board and staff if there are any concerns related to service due to this expansion, and staff expressed none.
President Liz McIntyre attended the Director’s Conference offered by NRECA. She discussed the value in attending periodically to connect with directors from across the country. She reported on topics discussed, including nuclear development, wildfire, and AI policies.
Upcoming Events
The Executive Committee has a meeting scheduled for Monday, February 23, 2026.
The Finance Committee has a meeting scheduled for Monday, March 2, 2026.
The Member Relations Committee has a meeting scheduled for Tuesday, March 3, 2026.
The NRECA Annual Member meeting is March 10, 2026, in Tennessee. No Directors are planning to attend.
The Board discussed the Kremmling and Walden meeting and scheduled the Kremmling meeting for August and the Walden meeting for September.
Old Business
Ratify Delay of ETS Sunsetting
At the January board meeting held on January 8, 2026, the Board discussed and approved extending the availability of the ETS rate from March 1, 2026, to May 1, 2026.
MOTION: It was properly moved, seconded, and carried to ratify the action taken at the January 8, 2026, Board of Directors meeting to delay the sunsetting of the ETS rate from March 1, 2026, to May 1, 2026.
Attorney Report
Attorney Bryson Fredregill referred to his written report and had nothing to add.
CEO’s Report
CEO Harman referred to her report. She reported that the KRTAs are now available on CTO.
Executive Session
MOTION: It was properly moved, seconded, and carried to enter into executive session at 10:11 a.m. for confidential and privileged discussion regarding a key account update, legal matters, and employee matters with the following present: all directors present at the meeting were present for the entire executive session. Harman and Fredregill were present for all of such executive session. Henderson was present for the portion of executive session where key accounts was discussed. Jones and Pynes were present for the portion of executive session where key accounts and legal matters were discussed.
MOTION: It was properly moved, seconded, and carried to exit executive session at 12:12 p.m.
MOTION: It was properly moved, seconded, and carried to approve the engagement of outside special counsel for power supply matters as discussed in executive session.
MOTION: It was properly moved, seconded, and carried to approve the CEO’s sabbatical plan as discussed in executive session.
MOTION: It was properly moved, seconded, and carried to reaffirm the board of directors’ directive to apply the proceeds from the sale of the Vasquez property to employee housing solutions, including the purchase of MPE-owned housing, the funding of down payment assistance programs for employees, and other options as appropriate.
President McIntyre recessed the meeting at 12:18 p.m. and reconvened at 12:30 p.m.
New Business
Discussion Items
Strategic Planning Prep
Virginia Harman discussed Strategic Planning and a survey that Director’s need to fill out. The Board and staff watched the movie “The Thinking Game” in preparation for Strategic Planning in April. Board and staff discussed the movie.
The meeting adjourned at 2:12 p.m.