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CMEEC reported April member power costs of $86 per megawatt-hour, 20% below the $107 budget projection and 53% below the regional benchmark. The Board also unanimously approved a restated governmental 457(b) retirement savings plan and voted to enter executive session on litigation strategy related to an FERC opinion; no formal action followed that session.
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The reported April results indicate lower-than-budgeted electricity costs for CMEEC members, although the savings were partly driven by a one-time payment tied to the Subase Fuel Cell project. CMEEC said annual costs are projected to be 20% below the regional benchmark. The Board approved changes to its employee retirement savings plan, while its discussion of the FERC matter remained confidential and produced no formal action.
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