Connecticut Coop and Local Town at Odds over Terminated Contract
Posted on Dec 4, 2013 in Litigation | Comments Off on Connecticut Coop and Local Town at Odds over Terminated Contract
Connecticut Municipal Electric Energy Cooperative (CMEEC) and the town of Wallingford, Connecticut, are at odds after the town decided to terminate its agreement to purchase wholesale power from the coop. Wallingford town officials have approved a five-year contract to buy power from a competing source. The power purchase agreement between CMEEC and Wallingford had been in place...
New Jersey City Joins Coop
Posted on Dec 4, 2013 in Corporate Governance, Legislative & Politics | Comments Off on New Jersey City Joins Coop
Councilmembers of the city of Franklin, New Jersey, voted 3-2 to join the Passaic County Electric Cooperative, despite some reservations about not allowing the city’s citizens to make the decision themselves. Jersey Central Power & Light will continue to be responsible for the distribution and maintenance of its infrastructure, and the energy will be provided by a third-party...
Federal Judge Removes Montana Coop’s Bankruptcy Trustee
Posted on Dec 2, 2013 in Financing, Litigation | Comments Off on Federal Judge Removes Montana Coop’s Bankruptcy Trustee
In November, a U.S. Bankruptcy Judge ruled to remove the trustee overseeing the bankruptcy proceedings of Southern Montana Electric Generation and Transmission Cooperative (Southern Montana). The judge noted that because Southern Montana’s members are now in agreement to liquidate the cooperative’s plant and assets and the bankruptcy trustee has failed to obtain confirmation of his...
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