Cory Poncelet joins SMMPA as Chief Financial Officer

Cory Poncelet has joined Southern Minnesota Municipal Power Agency (SMMPA) as Director of Finance and Accounting and Chief Financial Officer. Poncelet began his new role on September 21, succeeding Beth Fondell as she prepares to retire after six years of dedicated service to the Agency.

Poncelet brings more than 25 years of financial leadership experience to SMMPA. He is a former chief financial officer and has expertise in financial strategy, capital management, enterprise risk management and governance. For the past 12 years, he provided strategic advisory services as a financial consultant, helping organizations manage interest rate risk and improve financial performance. Before that, he spent 13 years in the banking industry, including seven years as a chief financial officer overseeing finance, accounting, technology, insurance and facilities.

 

A longtime local resident, Poncelet holds a Master of Business Administration from the University of Minnesota-Duluth and a Bachelor of Science in Accounting from Winona State University.

 

“We are pleased to welcome Cory to SMMPA,” said SMMPA Chief Executive Officer Dave Geschwind. “His extensive financial leadership experience and collaborative approach will serve the Agency and our member utilities well. Cory’s background in financial planning, capital management, and risk management makes him an excellent fit for this important role.”

 

Geschwind also thanked Fondell for her service to SMMPA. “Beth has been a trusted colleague, an outstanding leader and an important part of SMMPA’s success since joining the Agency in 2020. Her leadership has strengthened the Agency’s financial position and helped guide several important financial initiatives. We are grateful for her dedicated service and for the thoughtful transition she is providing.”

SMMPA releases 2026 carbon report

In 2023, Minnesota enacted legislation requiring a transition to 100% carbon-free electricity by 2040. Long before the law passed, SMMPA and our 17 member utilities were already advancing sustainability efforts. In 2020, the Agency launched the SMMPA 2.0 plan, which set a course for significantly reducing the Agency’s carbon emissions.

That commitment includes retiring our coal plant, expanding wind and solar resources, supporting electric vehicle adoption, and continuing to invest in a strong transmission system. SMMPA and our members also continue to promote award-winning energy efficiency programs that support a more sustainable future.

Although the state law sets carbon-free energy benchmarks for 2030, 2035, and 2040, SMMPA is already taking meaningful steps now. The Agency remains focused on reducing our carbon footprint while providing member utilities with reliable, affordable wholesale power. The following sections highlight ongoing efforts to address climate change and reduce emissions.


Click here to download our brochure, which highlights some of the activities that are part of SMMPA’s overall commitment to reducing carbon.

Check out our latest newsletter

Our newest issue of “The Current” features a 2025 legislative session review, it provides a bond review update from ratings agencies Standard & Poor’s, Moody’s and Fitch Ratings, details the Agency’s prioritization of safety and more. This edition of the Current is available here and in the Financial/Investors section of the website.

 

If you would like to be put on the mailing list to receive Current directly (either by mail or electronically via email) please click here and provide your name and mailing or email address.

SMMPA Honored with Two Awards for Outstanding Workplace Safety

The Southern Minnesota Municipal Power Agency (SMMPA) has been recognized for its commitment to ensuring the safety and well-being of its team members by receiving two safety awards for its outstanding performance in 2024.

 

For the seventh consecutive year, SMMPA has been honored with the Minnesota Governor’s Workplace Safety Award, managed by the Minnesota Safety Council. This award acknowledges employers who demonstrate exceptional workplace safety standards by comparing their incident rates with state and national averages. SMMPA's dedication to maintaining a safe work environment has secured its position among the top employers in Minnesota.

 

Additionally, for the fourth consecutive year, SMMPA has received the American Public Power Association’s Safety Award of Excellence. This national recognition underscores SMMPA's commitment to safety practices, highlighting its performance in incident prevention and overall safety program management.

 

Dave Geschwind, Executive Director and CEO of SMMPA, proudly highlighted the organization's safety record while reflecting on these awards. "These awards are a reflection of the dedication and commitment of the entire SMMPA team to maintaining our high safety standards," Geschwind remarked. "We take great pride in our safety record and strive to improve it every day."

Get in on the action!

Providing rebates when you buy energy-efficient products for your home or business is just one way SMMPA and our member utilities are saving you money!  

 

In 2024, our member utilities paid their customers over $3 million in rebates to help them purchase energy-efficient products.  Altogether, those products will reduce their electricity costs by over $4.6 million each and every year over the life of the equipment. 

 

Energy efficiency has also proven to be member communities’ best defense against climate change.  Since 2005, the estimated lifetime impacts of SMMPA’s growing collection of rebates on energy saving products has reduced carbon-dioxide emissions over 9.1 million tons – the equivalent of removing over 1.9 million passenger vehicles from the road for one year!

 

How can your SMMPA member utility help you save in 2025?