Presentation on theme: "1 South Dakota Energy Infrastructure Authority (SDEIA) Presented at the South Dakota Legislative Energy Briefing Wednesday, January 18, 2006."— Presentation transcript:
1 South Dakota Energy Infrastructure Authority (SDEIA) Presented at the South Dakota Legislative Energy Briefing Wednesday, January 18, 2006
2 SDEIA Created by the South Dakota Legislature in the 2005 session Codified at South Dakota Codified Laws Chapter 1-16I
3 SDEIA Presentation Overview Brief summary of the legislative intent Authority actions required by the legislation Administration
4 SDEIA Legislative Intent Created to diversify and expand the state’s economy by developing in South Dakota the energy production facilities and the energy transmission facilities necessary to produce and transport energy to markets within the state and outside of the state
5 SDEIA Legislative Intent The authority may provide for the financing, construction, development, maintenance, and operation of new or upgraded energy transmission facilities
6 SDEIA Legislative Intent If the authority becomes the owner or partial owner of any transmission facility, the authority shall divest itself of ownership as soon as economically practical
7 SDEIA Legislative Intent In order to finance energy transmission facilities authorized pursuant to the Act, the authority may issue and have outstanding bonds to finance such facilities in an amount not to exceed one billion dollars. However, no bonds may be issued until the issuance of the bonds is specifically approved by an act of the Legislature.
8 SDEIA Required Authority Actions Meet with any interested owner of transmission lines in South Dakota, and any interested generator and distributor of electricity to consumers in South Dakota by August first each year
9 SDEIA Required Authority Actions Report its findings and make recommendations to the Governor, the Legislature, and the South Dakota delegation by December first of each year
10 SDEIA Required Authority Actions Evaluate state and federal laws affecting electric generation and transmission Identify and communicate opportunities for cooperation between owners of transmission lines in South Dakota and generators and distributors of electricity
11 SDEIA Required Authority Actions Assist any entity that wants to build new or upgrade existing electric transmission facilities to, from, and within South Dakota Assist other state transmission authorities and any federal or regional entity wanting to build new or upgrade existing transmission facilities to deliver electricity to, from, and within South Dakota
12 SDEIA Administration The authority is governed by a five member board of directors. Board members are appointed by the Governor and serve staggered six year terms. Members may be reappointed.
13 SDEIA Administration Current board members are: –Mike Trykoski, Rushmore Professional Services, Rapid City (Chairman) –Kyle White, Black Hills Corporation, Rapid City (Vice Chairman) –Audry Ricketts, South Dakota Rural Electric Association, Pierre –Mike Held, South Dakota Farm Bureau, Huron –Dr. Mike Ropp, SDSU, Brookings
14 SDEIA Administration The board has the appointed Bill Even interim Executive Director. Bill is currently the South Dakota Energy Development Director and is on loan to the authority for three months, courtesy of Secretary of Tourism and State Development, Jim Hagen.
15 SDEIA The first meetings of the board have consisted of two telephone conference calls in December. A formal meeting is being scheduled for sometime in February.
16 SDEIA Administration Initial tasks before the board are to develop by-laws, a mission statement and a set of goals and objectives
17 SDEIA Administration At this time, no funding has been authorized for the authority. Your support in this regard is needed if the authority is to begin to carry out the objectives set forth in the legislation.