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Olinger and Spencer units experienced more starts (464) in FY 2022-23 than any fiscal year prior. The most prior to FY 2022-23 was in FY 2005-06 with 368 total starts. These units experienced more starts (380) during the four summer months of 2023 than total starts for any prior fiscal year. This resulted in more maintenance activities and repairs than planned for and included in the FY 2023-24 Adopted Budget. In addition, a boiler contractor recently notified GP&L that it failed to invoice GP&L for work performed in fiscal years 2021-2023, which is not anticipated in the FY 2023-24 Adopted Budget. To address these issues, GP&L is requesting an increase to the FY 2023-24 operating appropriation for the maintenance and repair of the Olinger and Spencer Power Plants.
FY 2023-24 Budget Amendment No. 3 seeks to appropriate $1,700,000 in the Electric Utility Fund to cover additional maintenance and repair costs at the Olinger and Spencer Power Plants. Funding for this request will come from excess fund balance reserves in the Electric Utility Fund following the 2022-23 fiscal year-end.
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