Knowledge a focus during 2024 Strategic Issues Forum

Quantum computers, artificial intelligence, social media, cryptocurrency – all discussed during Hoosier Energy’s 2024 Strategic Issues Board Forum.

 

But amid the head-spinning, mind-bending discussion of the present and future of information-sharing, there was a presentation anchored in more familiar territory. This one might be best described by the old NBC moniker, “The More You Know.”

 

The actual theme for NRECA Senior Director of Governance Education Pat Mangan was “The Value of the Generation, Transmission and Distribution Relationship.”

 

Mangan condensed what is normally a full course into a one-hour promo for cooperatives to educate their directors.

 

This was not new territory for those assembled but rather a reminder of the importance of discussing the what and why of generation and transmission power cooperatives, as well as their role in providing reliable, responsible and economical electric energy to member systems.

 

Other course objectives included recognizing the scale and complexity of financials, regulatory issues, legal issues, costs and other challenges faced by G&Ts, the value of the G&T and distribution cooperative relationship, and the fiduciary duty of the director to the distribution cooperative and/or the G&T.

 

“I don’t know how you can stay engaged as a director without coming to the classroom,” Mangan said.

 

To reach those objectives, Mangan started at the beginning – The Origins of the G&T.

 

Things progressed from there by defining the federated system, explaining the benefits offered by the federated system, reviewing the history of power supply in electric cooperative programs, discussing the inception of G&Ts and their role in electric cooperative programs and recognizing why G&Ts exist.

 

In the grand scheme of things, the purpose is to orient all directors to what is involved from the generation and transmission level to the distribution level to the member-consumer level.

 

“I would argue that everyone, that all directors need to understand this stuff to a much greater depth closer to that of a G&T director,” Mangan said. “This is a two-way street. The G&T needs to understand risks and challenges at the distribution level, and the distribution cooperative needs to understand the risks and challenges of the G&T.

 

“We’re all pulling toward the same goals – reliable, affordable, safe electricity.”

 

In the end, the educational component of Mangan’s course and the goal of the director boiled down to two things. First, reliability, and second, what is going to be good for the member?

 

With that mindset as the guiding light for directors at all levels, tackling the more complex and evolving aspects of emerging information technologies will be a little bit easier to do.

 

“We’re all in this together, pulling in the same direction of that North Star,” Mangan said. “Everyone benefits by understanding that.”