Commission recap, 9/22/2026 -- Finances through September 2026 yield above-budget results

Grant PUD's financial forecast through September shows a strong current-year position, with Change in Net Position projected at $302.8 million, approximately $54.9 million favorable compared to the 2026 budget, commissioners learned Tuesday.

The favorable position is primarily driven by Net Power, which is forecasted approximately $78.9 million above budget, including approximately $49.8 million of unbudgeted Climate Commitment Act revenues now recognized within Wholesale Revenue. This favorable Net Power position is partially offset by Retail Energy Sales, which are forecasted approximately $20.0 million below budget.

Compared to the prior forecast, 2026 Change in Net Position increased approximately $10.9 million, driven primarily by July actuals and reduction in Operating Expenses. A reduction in Operating Expenses by approximately $5.6 million and an increase of Net Power revenues by $5.4 million are the main drivers for the favorable change.

Five-Year Outlook (2027–2031) The long-term outlook moderates from the strong 2026 position when compared with the 2026 adopted budget baseline of approximately $247.1M in Change in Net Position. Forecasted Change in Net Position declines to approximately $192.5M in 2027 and remains below the 2026 budget level through 2031. Lower Operations and Maintenance expenses, stronger Net Power, and updated financing assumptions provide meaningful support to the out-year outlook.

Bottom line: The September forecast reflects a particularly strong 2026 result, with long-term results moderating from that level while remaining supported by favorable Operations and Maintenance expenses, Net Power, and financing assumptions.

See the full financial update on pages 1-35 of the commission presentation materials.

Commissioners also:

-- Passed Resolution 9132, amending Resolution 9129, for the commissioners' desire to delegate authority to the general manager/CEO to approve the following administrative policies in alignment with state law: Customer Service Policy (excluding the customer fee schedule), Customer Deposit Schedule, Requests for the Public Records Policy and fee schedule, Telecom Customer Service Policy (excluding the fee schedule) and the Whistleblower Policy. For complete information see pages 9-16 of the commission packet.

--Passed Resolution 9133, authorizing and Electricity Prepayment Transaction, including purchase of electricity, from Energy Southeast and approving the execution and delivery of one or more power-supply contracts, limited assignment agreements and other documents related to the purchase of electricity. "This tax-exempt power financing" arrangement is expected to save Grant PUD approximately $4 million annually on its purchases of electricity from the Royal Slope Solar project, expected to be generating in early 2028. For more details, see the Sept. 8 commission workshop recap here and pages18-28 of the Sept. 22, 2026 commission packet.

--Passed Motion 3566, authorizing the general manager/CEO to execute Change Order No. 3 to Contract 430-12924 with ROI Insight Group, increasing the not-to-exceed contract amount by $1.75 million for a new contract total of $5.23 million. The change will ensure Grant PUD's Enterprise Technology Department has the necessary, contracted technical resources to continue to support the utility's computer system software upgrade, known as the Enterprise Resource Plan (ERP+). ERP+ modernizes Grant PUD's core software systems and business processes to create a more reliable, efficient, and integrated operating environment that better serves customers, employees, and the community. For complete information see pages 27-31 of the commission packet.

--Passed Motion 3567, authorizing the general manager/CEO on behalf of Grant PUD to sign, at the appropriate time, a settlement agreement in a lawsuit brought by Grant County PUD, Chelan County PUD and Douglas County PUD against the Bonneville Power Administration and federal officials in a matter related to the Columbia River Treaty.