USDA Announces $204 Million Loan Guarantee for PrairieWinds SD 1 Project
Posted on Feb 16, 2011 in Financing, Renewable Energy | Comments Off on USDA Announces $204 Million Loan Guarantee for PrairieWinds SD 1 Project
Basin Electric Power Cooperative is to receive a guarantee of 60% of its $340 million dollar PrairieWinds SD 1 project from the USDA’s Rural Utilities Service. For details see the US Department of Energy’s EERE News.
Arkansas Supreme Court Dismissed Capital Credit Suit for Lack of Jurisdiction
Posted on Feb 15, 2011 in Corporate Governance, Derivative Suits, Litigation | Comments Off on Arkansas Supreme Court Dismissed Capital Credit Suit for Lack of Jurisdiction
The court ruled that the Public Service Commissions has exclusive jurisdiction over coops’ capital credit practices. This ruling benefits cooperatives because it is usually harder for plaintiffs’ lawyers to recover large fees before a state’s utility commission. See Electric Co-op Today for more on this story.
Documentary to Investigate Carroll Electric Cooperative Corporation’s Use of Herbicides Near Transmission Lines
Posted on Feb 15, 2011 in Corporate Governance, Environmental | Comments Off on Documentary to Investigate Carroll Electric Cooperative Corporation’s Use of Herbicides Near Transmission Lines
According to the Arkansas Times, local filmmakers are taking aim at Carroll Electric’s use of herbicides, which critics claim poses a threat to local crops and water supplies. The film also highlights the corporate governance issues involved in how the coop makes decisions about its herbicide use.
National Action Plan Coalition Case Study Showcases the PowerCentsDC Smart Grid Program
Posted on Feb 14, 2011 in Energy Savings Programs, Grid & Infrastructure, Innovation/Efficiency, Technology | Comments Off on National Action Plan Coalition Case Study Showcases the PowerCentsDC Smart Grid Program
The National Action Plan Coalition was formed to implement DOE and FERC’s National Action Plan on Demand Response and Smart Grid. PRNewswire has the story on how this broad-based coalition of stakeholders worked together to successfully implement a smart grid program in the District of Columbia.
Lawsuit Filed Against Coop Based On Its Treatment of Capital Credits
Posted on Feb 11, 2011 in Corporate Governance, Derivative Suits, Litigation | Comments Off on Lawsuit Filed Against Coop Based On Its Treatment of Capital Credits
According to the Fay Observer, a class action lawsuit has been filed against North Carolina’s South River Electric Membership Corporation relating to the coop’s treatment of credits owed to deceased customers. The claim involves the coop’s practice of reducing the amount of these credits based on the time value of money.
Controversy Over Plans to Build Wind Turbines in Massachusetts
Posted on Feb 10, 2011 in Land Use, Project Development, Renewable Energy | Comments Off on Controversy Over Plans to Build Wind Turbines in Massachusetts
The Cape and Vineyard Electric Cooperative plans to install two turbines in Brewster, but many residents object based on their concerns related to noise and property values. According to coop sources, only one person lives within 1,800 feet of the project site. For more on this story, see the Cape Cod Times article.
Coos-Curry Electric Cooperative Completes Transmission Project 20 Years in the Making
Posted on Feb 8, 2011 in Grid & Infrastructure, Reliability | Comments Off on Coos-Curry Electric Cooperative Completes Transmission Project 20 Years in the Making
The Oregon cooperative completed its three-phase, 52-mile project, and it expects that the project will greatly improve the reliability of its system. The project was completed for $8 million, which is $4 million below budget. Electric Co-op Today has the full story.
General Manager of Pedernales Electric Cooperative Sentenced to 300 Days in Jail, Probation, Community Service, and Restitution
Posted on Feb 7, 2011 in Corporate Governance, Litigation | Comments Off on General Manager of Pedernales Electric Cooperative Sentenced to 300 Days in Jail, Probation, Community Service, and Restitution
The Statesman reports that Bennie Fuelberg’s sentence includes, among other things, restitution payments of $126,000. This amount is far less than the $8.8 million that Pedernales sought to recover. The court ordered that the money is to be paid to Pedernales’ insurance company and former law firm rather than to the cooperative itself.
Iowa Nuclear Plant That Provides Power for Cooperatives Has License Extended for 20 More Years
Posted on Feb 4, 2011 in Permitting, Regulation & Policy | Comments Off on Iowa Nuclear Plant That Provides Power for Cooperatives Has License Extended for 20 More Years
The nuclear plant provided 34 percent of Central Iowa Electric Cooperative’s baseload power in 2009, and now it can continue to do so through 2034. The application for the extension was over 2000 pages and contained information on the inspections, testing, and retrofitting that will become necessary as the plant ages. Full story reported by Electric Co-op Today.
Basin Electric Power Cooperative’s 162 MW Wind Farm is the Largest in South Dakota
Posted on Feb 2, 2011 in Environmental, Project Development, Renewable Energy | Comments Off on Basin Electric Power Cooperative’s 162 MW Wind Farm is the Largest in South Dakota
The Daily Republic reports that once all 100 turbines are operational, Basin Electric will exceed its goal of generating at least 10 percent of its power from renewable sources. Construction of the $363 million dollar PraireWinds SD 1 project began last year and all turbines should be online by the middle of February.
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