The Muscatine Power and Water (MPW) Board of Trustees held its monthly meeting on January 28, where Utility leadership presented the 2024 year-end Strategic Plan projects update and financial performance overview. The updates included progress reports on the Powering the Future initiative, various reliability projects, and a status update on the communications service expansion. Overall, the Utility ended 2024 strong, positioning itself for continued progress in 2025.
Plans for MPW’s annual Power Breakfast, scheduled for March, were also shared at the meeting. This event provides an opportunity for senior leadership to update the community on significant projects and initiatives impacting nearly every resident, business, and industry. The Power Breakfast presentation will be made available via Public Access Channel 9, in the Local On-Demand folders on MPW TV, and on MPW’s YouTube channel.
Alongside preparations for the Power Breakfast, the Utility is also working on the 2024 Annual Report, which will serve as a written complement to the event. This report will be presented to the Trustees during the March board meeting and will be accessible to the public on the Utility’s website.
General Manager Gage Huston expressed his satisfaction with the progress made on 2024 initiatives and praised the MPW staff for their dedication. “I am incredibly impressed with the hard work and commitment of our team. Their efforts have positioned us well for the future, and we remain focused on continuing to work for the betterment of our community,” said Huston.
During the meeting, the Trustees approved a project summary form for the 2024-2025 Power Supply Study, with a total cost of $222,200. Leidos Engineering, retained by MPW counsel, will evaluate future power supply scenarios and determine the optimum power supply plan needed to meet forecasted capacity and energy requirements. The study will consider Muscatine’s power needs, current and planned generation, and the incorporation of additional renewable energy resources, such as solar. Furthermore, the study will account for the increase in electrification and the possible addition of battery storage.
The Board reviewed December and calendar-year 2024 financial results and key performance indicators. For the month, MPW had net income of $0.8 million, which was $1.0 million better than the budgeted loss. Net income included recognition of $0.7 million of anticipated grant reimbursements for MPW’s work on two extensions of communications services to areas just outside of Muscatine. For the year. MPW had net income of $2.0 million on an unaudited basis. That result was $8.9 million better than budget but $1.9 million below 2023 net income. Mark Roberts, director of finance and administrative services, noted, “For the year, electric net capacity benefits comparing sales to expenses were weaker, and non-labor operations and maintenance and labor costs were higher than 2023. Partially offsetting those financial effects were lower non-labor administrative and general costs and higher retail revenues. Despite the lower net income, MPW had a strong year against budget.”
In other business, the Board:
- Approved payment for the December 2024 expenditures and transactions for a total of $10,497,063.24
- Approved project summary form for the 2024-2025 power supply study for a total cost of $222,200
- Approved the Communications, Electrics and Water Utility Reimbursement Resolutions
- Approved a change in date of the December 2025 Board of Trustees meeting to Thursday, December 18, 2025