June 2008

After 27 public meetings, three years of work and input from hundreds of lake area stakeholders, the comprehensive shoreline management plan (SMP) forGrand Lake is approved by the GRDA Board of Directors. The plan is then sent to the Federal Energy Regulatory Commission (FERC) in Washington, D.C. for final approval.

January 2008

GRDA goes public with an announcement that it is joining with two other Oklahoma-based utilities to purchase the natural gas fired 1,200 megawatt (MW) Redbud Plant near Luther. GRDA will be a 36 percent interest owner in the plant (which translates to approx. 400 MW) and will partner with Oklahoma Gas and Electric (51 percent interest) and the Oklahoma Municipal Power Authority (13 percent). Plans were to finalize the deal sometime in 2008.

December 2007

The year goes out the same way it came in – with an ice storm. Once again, Northeast Oklahoma is hit hard and the GRDA system suffers damage in various locations. This time, a high voltage transmission line (Feeder 13) running between Collinsvilleand Prue sees the worst of it. GRDA crews work round the clock, in the ice and cold, for several days to restore the system to full service.

October 2007

Kevin Easley, CEOFollowing on the heels of credit outlook improvements from the three major rating agencies, GRDA receives a credit rating upgrade   Standard & Poor’s (S&P) Rating Services. S&P announces it is changing GRDA’s credit rating from “BBB+” to “A”, and improving the outlook from stable to positive. It marks the first rating upgrade in GRDA’s history. “This upgrade is proof that the financial community believes GRDA is growing more financially stable,” said GRDA Chief Executive Officer Kevin Easley. “Moving the rating from “BBB+” to “A-” adds even more stability to the financial foundation this agency will rest on in the future.”

September 2007

The final draft of the shoreline management plan (SMP) is complete and presented to the public at a series of public meetings around Grand Lake.

August 2007

GRDA takes another step in its efforts to be a leader in environmental compliance efforts when the GRDA Board approves an $800,000 project to install continuous mercury emissions monitoring equipment at the Coal-Fired Complex. GRDA also commits to an aggressive timetable – installation of the equipment by July 2008 — well ahead of the Environmental Protection Agency (EPA) mandate of December 31, 2008.

January 2007 Ice Storm

One of the most devastating ice storms inNortheast Oklahoma history moves through the GRDA service area. While damage is widespread, the hardest hit portion of the GRDA system is the Highway 412 substation, east of Locust Grove and a high voltage transmission line (Feeder 105) that runs to the substation from Robert S. Kerr Dam. A total of 127 structures fall along the line, under the weight of the ice and snow.

January 2007

Marking the third credit outlook improvement in two years, Moody’s Investor Services affirms an “A2” rating on GRDA’s outstanding electric revenue bonds and announces it would change GRDA’s rating outlook from negative to stable. Moody’s lists GRDA’s history of successfully operating within a competitive environment among its strengths, as well as the Authority’s stable and strong liquidity position. The report also acknowledges that GRDA’s focus continues to be “on supplying the native load of its Oklahomacustomers.”

September 2006

GRDA receives a new 30-year license to operate the Markham Ferry Project (Robert S. Kerr Dam and Lake Hudson) from the Federal Energy Regulatory Commission. To complete the relicensing efforts, bald eagle protection, threatened and endangered species management, water quality, identification and management of historic property and a recreation management plan were some of the subjects addressed by GRDA. The new license replaced the original license, issued in 1955.

March 2006

Citing GRDA customers’ acceptance of rate increases that will improve finances and the utility’s low-cost power supply among the factors in its decision, Standard & Poor’s Rating Services (S&P) affirms GRDA’s “BBB+” credit rating and improves the rating outlook from negative to stable. The good news comes one year after a similar credit outlook improvement from Fitch.