Utilities, governor hail PSB approval of Hydro-Québec agreement

first_imgVermont Governor Peter Shumlin and utility leaders today hailed the Public Service Board’s approval of a 26-year contract with Hydro-Québec, a key element of Vermont’s energy future.‘I am glad that the Public Service Board approved this agreement for clean, reliable, and favorably priced power for Vermonters,’ Gov. Shumlin said.  ‘Hydro-Québec has been an important partner in Vermont for many years, and will continue to be a key player in Vermont’s energy future.’ The PSB order, issued late Friday, is the culmination of a more than a year-long process that began with the signing of a memorandum of understanding between Central Vermont Public Service (NYSE-CV), Green Mountain Power and Hydro-Québec in March 2010.  The MOU led to a contract last August, now approved by the PSB, which will benefit not only CVPS and GMP customers, but people across Vermont. ‘We are very pleased that the Public Service Board has validated our belief that this will be a very favorable contract for Vermont,’ CVPS President Larry Reilly and GMP President Mary Powell said in a joint statement.  ‘This approval ensures a large, clean, renewable baseload energy source in our portfolios that will be competitively priced and reliable.’ The PSB concurred.  ‘The proposed HQ (agreement) would provide a number of benefits to the Vermont utilities and their ratepayers,’ the board said.  ‘First, over the term of the contract the price of power is expected to be competitive with or favorable to market prices, and is less expensive than currently available sources of power with similar characteristics. Second, the price for this power is expected to be more stable than purely market-based purchases due to the formula for determining its future price. ‘This formula is based not only on market prices for power but also on inflation, and includes a buffering feature that limits year-to-year price fluctuations,’ the board said. ‘Third, the Vermont utilities will receive environmental attributes associated with the energy delivered by HQUS into the New England market in an amount matching the Vermont utilities’ purchases under the HQ PPA and reflecting at least 90 percent hydroelectricity, which Vermont law recognizes as renewable.’ Under the agreement, Vermont will purchase up to 225 megawatts of energy starting in November 2012 and ending in 2038. Hydro-Québec’s generating fleet is 98 percent hydroelectric. The agreement includes a price-smoothing mechanism that will shield customers from volatile market prices. The price will start at approximately 5.8 cents per kilowatt-hour.  Vermont has purchased energy from Quebec for decades. In the early 1980s, the first longer-term power deals were established.  The current Vermont-Hydro-Québec contract, which was signed on Dec. 4, 1987, phases out largely in 2016. The current contract has proven to be a sound agreement for Vermont, helping GMP and CVPS maintain clean portfolios and rates that are among the lowest in New England. The new energy contract was negotiated between CVPS, GMP and H.Q. Energy Services (U.S.) Inc., an indirect wholly owned subsidiary of Hydro-Québec. Other Vermont utilities that have confirmed their intent to purchase energy under this agreement are Vermont Public Power Supply Authority, Vermont Electric Cooperative Inc., Vermont Marble Power Division of Omya Industries Inc., the Town of Stowe Electric Department and the Burlington Electric Department.Soruce: CVPS, GMP. 4.18.2011last_img read more

Is your credit union spending its IT resources wisely?

first_imgAs a CUSO, Ongoing Operations has a number of former credit union IT managers and CTOs on staff. Collectively, we have built and run dozens of data centers for credit unions, managed core conversions and seen firsthand the growing complexity of the regulatory environment, security management and day-to-day operations. We understand credit union technology, having limited resources to achieve member goals and the fact that the official IT budget isn’t always a complete picture.Through our work with credit unions across the country, we have found that the average annual spend for all IT (people, core related items, and non-core related items) is equal to approximately 11% of a credit union’s total revenue. That’s a big chunk of your total expenses and making sure that it is deployed as effectively and efficiently as possible to help your credit union achieve member goals is critical.Our credit unions prefer to focus more of their IT spend on member facing technology. While infrastructure, compliance, security and DR are also very important, being able to see where the money is going and aligning it with the things that members care about is key. One way to assess current IT spending and begin transitioning resources to achieve member goals is to conduct a TCO or Total Cost of Ownership assessment. The TCO assessment helps credit unions pinpoint efficiency opportunities by analyzing where their technology budget goes and benchmarking how it compares to the overall industry.A TCO assessment should include total credit union IT spend along with key benchmark data around:Disaster Recovery (BIA, BCP, table top, DR Test)Core System and ApplicationsInfrastructure (server and storage)Telecom (branches and phones)Cyber SecurityDirect LaborIn OGO’s experience, once you have conducted a TCO and understand where the money is being spent, credit union leadership can point IT resources in a different direction – focused on making more of a member impact. In addition, credit unions can often reduce Operational IT Expenses from 11, 12 or sometimes even 16% down to below 10% of revenue. Conducting a TCO assessment can help credit unions align their IT spending with their strategic plans and focus on the critical business facing activities that improve ROA, member retention, and loyalty.As a CUSO, OGO is pleased to offer a TCO assessment to credit unions at no charge. If you are interested in seeing how you compare to your peers and learning more about how you can refocus your technology to achieve your member goals – please contact us today for your complimentary assessment. 29SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Kirk Drake Kirk Drake is founder and CEO of Ongoing Operations, LLC, a rapidly growing CUSO that provides complete business continuity and technology solutions. With its recent acquisition of Cloudworks, Ongoing Operations … Web: www.ongoingoperations.com Detailslast_img read more

The Latest: Perez says he may have gotten virus in Mexico

first_img___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports July 31, 2020 The Latest: Perez says he may have gotten virus in Mexico Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Formula One driver Sergio Perez says he might have contracted the coronavirus during a trip to Mexico between races in Hungary and Britain.center_img The Racing Point driver tested positive for COVID-19 on Thursday and will miss Sunday’s race at Silverstone and another the following week at the same track while in isolation.Perez says he was visiting his mother in Mexico after she was hospitalized following a “big accident.”Perez says it is “one of the saddest days in my career” missing races “but it just shows how vulnerable we all to this virus.”The Mexican used a private jet to fly home and says he has no symptoms.The pandemic delayed the start of the season by more than three months. Associated Press last_img read more

32Red Sports appoints Nico de Boinville as Racing Ambassador

first_img Wayne Rooney speaks from experience to support 32Red’s ‘Know Your Limits’ campaign April 8, 2020 StumbleUpon Related Articles Rooney links with 32Red for ‘Stay In Control’ series January 2, 2020 Share Ahead of the start of Cheltenham Festival 2017 (14-17 March), 32Red Sports has confirmed the appointment of star jockey Nico de Boinville as its latest ‘Official Racing Ambassador’.Champion Jockey Nico de Boinville, has won four times at Cheltenham, including  Gold Cup Victory in 2015 riding Coneygree. De Boinville joins 32Red Sports stable of racing experts including Paddy Brennan, Bryan Cooper and Jamie Spencer.As Racing Ambassador, de Boinville will provide exclusive content and analysis on racing markets for 32Red Sports, as the operator looks to expand its presence within UK racing.“32Red are delighted to add Nico to our ever-increasing stable of the best jockeys in the business,” said 32Red chief commercial officer Matt Booth.“With De Boinville’s position as Nicky Henderson’s principal jockey, he’ll not only have some of the most exciting rides available for this year’s Cheltenham Festival, but will also be perfectly placed to give our customers invaluable insight to help them pick a winner or two.”De Boinville commented on joining 32Red stables “It’s great to be on board with 32Red ahead of the Cheltenham Festival. I’m delighted to be back riding winners after three and a half months out injured and I have got plenty of exciting rides to look forward to, so let’s hope I can provide some good insight in my 32Red blog. It’s now all systems go ahead of the biggest four days of the year.” Share 32Red brands reports of educational data breach as “untrue and unfounded” January 20, 2020 Submitlast_img read more