South Carolina Attorney General Seeks Investigation of Phone Scam
Posted on Oct 16, 2013 in Legislative & Politics | Comments Off on South Carolina Attorney General Seeks Investigation of Phone Scam
South Carolina’s Attorney General has requested that the South Carolina Law Enforcement Division investigate a state-wide phone scam targeting utility customers. Utility consumers around the state have been receiving calls from phone scammers who pose as electric cooperative employees and threaten disconnection of service if the customers do not make immediate payments. The scammers...
Oglethorpe Announces New CEO
Posted on Oct 16, 2013 in Corporate Governance | Comments Off on Oglethorpe Announces New CEO
Oglethorpe Power Corporation has announced that Michael L. Smith has been appointed as its new President and Chief Executive Officer. Mr. Smith previously served in the same position for Georgia Transmission Corporation. To read more, click here.
BPA Penalties May Trickle Down to Customers
Posted on Oct 15, 2013 in Litigation, Regulation & Policy | Comments Off on BPA Penalties May Trickle Down to Customers
The electric coops, municipal systems and public utility districts that are customers of the Bonneville Power Administration (BPA) in the Pacific Northwest may be stuck paying for an investigation of the agency’s flawed hiring practices, according to an October 8 report of the Department of Energy’s inspector general. Because the BPA is a self-funded, non-profit federal agency, its...
Industrial Standards Group Rejects Limits on Water Heaters
Posted on Oct 14, 2013 in Environmental, Innovation/Efficiency, Regulation & Policy, Technology | Comments Off on Industrial Standards Group Rejects Limits on Water Heaters
In a victory for the National Rural Electric Cooperative Association and electric coops, an industrial standards organization has rejected water heater restrictions that could have cost coop members millions of dollars. The International Code Council voted down water heater limits recommended by the Natural Resources Defense Council at its code hearing in early October. As a result,...
Man Arrested in Connection with Arkansas Grid Attacks
Posted on Oct 14, 2013 in Grid & Infrastructure | Comments Off on Man Arrested in Connection with Arkansas Grid Attacks
The FBI and the United States Attorney for the Eastern District of Arkansas have announced that Jason Woodring, 37, of Jacksonville, Arkansas, was arrested on a criminal complaint charging him with destruction of an energy facility. The affidavit filed with the complaint charges that Woodring is responsible for multiple acts of sabotage to the power grid in Central Arkansas, including...
Alaska Coop Seeks Purchase of For-Profit Utility
Posted on Oct 14, 2013 in Corporate Governance, Mergers/Acquisitions, Rates, Regulation & Policy | Comments Off on Alaska Coop Seeks Purchase of For-Profit Utility
Alaska Village Electric Cooperative (AVEC), which serves Western Alaska, is seeking to buy Bethel Utilities Corporation (BUC), a for-profit company. According to AVEC’s President, the buyout, on schedule to become effective this Spring, would cut electric rates for customers of both entities. BUC’s rates could drop by 8 to 10 percent immediately. The two entities jointly sought...
Southeastern Coops Amend and Extend Lines of Credit
Posted on Oct 14, 2013 in Financing | Comments Off on Southeastern Coops Amend and Extend Lines of Credit
The National Rural Utilities Cooperative Finance Corporation (CFC) recently arranged transactions for two coops that will amend and extend their lines of credit. Winchester-based East Kentucky Power Cooperative (EKPC) was able to increase its $450 million, five-year syndicated revolving credit facility to $500 million and extend the credit facility’s maturity date to 2018. The...
Georgia Coop Settles Class Action Over Patronage Capital for $98 Million
Posted on Oct 11, 2013 in Corporate Governance, Derivative Suits, Litigation, Mergers/Acquisitions, Patronage Capital, Regulation & Policy | Comments Off on Georgia Coop Settles Class Action Over Patronage Capital for $98 Million
After nearly four years of litigating a class action over patronage capital, Cobb EMC has agreed to pay a $98 million settlement to nearly one million of its current and former members. The plaintiffs are to receive their portion of patronage capital (or “capital credits”) they were allegedly owed but never paid. The Marietta Daily Journal has more.
Virginia Coop to Expand Landfill Project
Posted on Oct 10, 2013 in Financing, Land Use, Project Development | Comments Off on Virginia Coop to Expand Landfill Project
Northern Virginia Electric Cooperative plans to add approximately 5 MW to its 1.9-MW landfill-gas generation facility located at the Prince William County Landfill. The expansion should be in operation by late November and will cost approximately $11 million. Click here for more information.
South Dakota Coops Respond to Early Season Blizzards
Posted on Oct 9, 2013 in Grid & Infrastructure | Comments Off on South Dakota Coops Respond to Early Season Blizzards
Early season blizzards have hit South Dakota, causing damage to the systems of many electric cooperatives. While trying to replace thousands of broken poles and hundreds of miles of disrupted lines, the cooperatives are also facing more damage from falling limbs and muddy surfaces. Dick Johnson, general manager of West River Electric Association, stated, “This is the worst ice and...
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