Cooperatives and Other Groups Urge the Department of Energy to Alleviate Supply Chain Challenges
Posted on Dec 8, 2022 in Economic Downturn, Grid & Infrastructure | Comments Off on Cooperatives and Other Groups Urge the Department of Energy to Alleviate Supply Chain Challenges
The American Public Power Association, the Edison Electric Institute and the National Rural Electric Cooperative Association submitted joint comments to the Department of Energy (DOE) at the end of November, urging the DOE to use the Defense Production Act to prioritize transformers and critical grid components. The groups noted that electric reliability is a prerequisite to many of...
Cooperatives Face Financial Pressures According to Fitch
Posted on Dec 8, 2022 in Economic Downturn | Comments Off on Cooperatives Face Financial Pressures According to Fitch
Fitch Ratings said on Tuesday that sustained cost pressures due to inflationary pressures, higher natural gas prices and slowed growth will put pressure on electric cooperatives and public power companies. Cooperatives and public power companies also face ongoing supply and demand uncertainty from extreme temperatures and droughts.
CFC’s Trend Analysis Demonstrate Cooperatives’ Financial Strength
Posted on Jul 20, 2021 in Economic Downturn, Financing | Comments Off on CFC’s Trend Analysis Demonstrate Cooperatives’ Financial Strength
The National Rural Utilities Cooperative Finance Corporation (CFC) has analyzed preliminary data for its 2020 Key Ratio Trend Analysis report, an annual assessment of financial trends among electric distribution cooperatives nationwide. The results show the majority of electric cooperatives have maintained strong financial metrics and have successfully managed through last year’s...
House Bill Would Give Coops Tax Credits to Help Pay Retirement Costs
Posted on Sep 1, 2020 in Economic Downturn, Legislative & Politics, Tax | Comments Off on House Bill Would Give Coops Tax Credits to Help Pay Retirement Costs
NRECA is supporting a bipartisan House bill that would give electric cooperatives a temporary tax credit to help keep their retirement plans funded during the COVID-19 pandemic. The Preserving Employee Retirement Savings Act would provide a two-year tax credit for up to 20% of the retirement costs paid by coops and other small businesses experiencing hardships because of the pandemic....
Kansas Cooperatives Helped by PPP
Posted on Jul 20, 2020 in COVID-19, Economic Downturn, Financing | Comments Off on Kansas Cooperatives Helped by PPP
Six Kansas electric cooperatives recently applied for and received up to $20 million in loans as part of the federal Paycheck Protection Program (PPP), a $2 trillion economic stimulus package passed by Congress in late March to help small businesses keep their workforces employed during the coronavirus pandemic.
Oregon Trail Electric Coop Launches 360-Degree Virtual Tours
Posted on Jul 17, 2020 in COVID-19, Economic Downturn | Comments Off on Oregon Trail Electric Coop Launches 360-Degree Virtual Tours
With a lack of tourism hurting local businesses, Oregon Trail Electric Cooperative has launched a series of 360-degree video and virtual reality experiences to attract post-pandemic business investment, new residents, and tourists to eastern Oregon. The immersive experiences, which have been shown to cause the same brain activity in the viewer as if he or she were really in a new...
Leaders of Electric Cooperatives Discuss Safety Measures Taken to Protect the Safety and Health of Their Employees During COVID-19
Posted on Jun 24, 2020 in COVID-19, Economic Downturn | Comments Off on Leaders of Electric Cooperatives Discuss Safety Measures Taken to Protect the Safety and Health of Their Employees During COVID-19
Senior electric coop leaders recently spoke with the National Rural Electric Cooperative Association (NRECA) and T&D World about safety measures being implemented to protect the safety and health of their employees during the COVID-19 pandemic. Although coops have moved swiftly to protect the safety and health of their employees and the public, some of the challenges moving forward...
South Carolina Electric Cooperatives See Delinquencies Rise
Posted on Jun 3, 2020 in COVID-19, Economic Downturn | Comments Off on South Carolina Electric Cooperatives See Delinquencies Rise
South Carolina’s electric cooperatives are reporting large spikes in the number of customers falling behind on their electric bills, signaling potential financial problems for households and businesses in the most rural parts of the state. The dramatic uptick in delinquencies is being driven by the coronavirus pandemic and the economic downturn caused by the public health...
State Cooperatives See Surging Delinquencies in Light of Coronavirus
Posted on May 18, 2020 in COVID-19, Economic Downturn | Comments Off on State Cooperatives See Surging Delinquencies in Light of Coronavirus
Electric cooperatives are facing a number of challenges due to the coronavirus, including a growing number of customers who are unable to pay their bills. In Oklahoma, cooperatives voluntarily agreed to implement a moratorium on non-payment disconnections, and have waived disconnection, reconnection and other service fees for now.
Coops Stare Down Virus Costs
Posted on Apr 27, 2020 in COVID-19, Economic Downturn, Trends | Comments Off on Coops Stare Down Virus Costs
Electric cooperatives could lose up to $10 billion from the effects of the coronavirus according to the National Rural Electric Cooperative Association (NRECA). A drop in electricity sales, combined with potential revenue lost from unpaid bills, could cost cooperatives. The NRECA has asked Congress for relief.
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