Coop Helps Jump Start Job Growth in South Carolina
Posted on Apr 10, 2012 in Economic Downturn, Innovation/Efficiency, Land Use | Comments Off on Coop Helps Jump Start Job Growth in South Carolina
South Carolina company Pee Dee Electricom, a subsidiary of Pee Dee Electric Cooperative, and Marion County have announced a partnership to build a 50,000-square-foot building in the Marion County Industrial Park. This building will be used to attract industry and jobs to Marion County. Construction is expected to be completed by September. Click here for more.
Montana PSC’s Request to Intervene in Coop Bankruptcy Proceedings Is Denied
Posted on Mar 9, 2012 in Economic Downturn, Regulation & Policy | Comments Off on Montana PSC’s Request to Intervene in Coop Bankruptcy Proceedings Is Denied
A U.S. Bankruptcy judge denied the Montana Public Service Commission’s (PSC) request to intervene in the bankruptcy proceedings of Southern Montana Electric Generation and Transmission Cooperative, Inc. despite the PSC’s argument that intervention would be in the public interest. Counsel for the coop argued against intervention because the PSC does not regulate coops and is not a...
Montana Coops Negotiating New Payment Plans with Oil Companies
Posted on Mar 5, 2012 in Economic Downturn, Financing, Grid & Infrastructure | Comments Off on Montana Coops Negotiating New Payment Plans with Oil Companies
Some Montana coops are changing the way they structure payment plans with oil companies that need their oil well sites to be electrified. Lower Yellowstone Rural Electric Association (LYREA) is requiring payment up front from the oil companies rather than allowing payment through the monthly electricity rate. The cost of making payments all at once can add up; costs can reach about...
Kentucky Rural Investment Bill Making Progress
Posted on Mar 1, 2012 in Economic Downturn, Financing, Legislative & Politics, Project Development | Comments Off on Kentucky Rural Investment Bill Making Progress
A proposed bill to allow the use of private investment by coops is moving through the Kentucky legislature. Similar to laws passed in Tennessee and several other states, supporters of the proposed bill say it will promote new forms of investment and invigorate the state’s growing biofuels industry. Click here for more information.
Budget Reform Bill Could Impact RUS Lending
Posted on Feb 14, 2012 in Economic Downturn, Financing, Legislative & Politics | Comments Off on Budget Reform Bill Could Impact RUS Lending
A budget reform bill passed by the U.S. House of Representatives may place unnecessary limits on Rural Utilities Service (RUS) lending to electric coops, according to the National Rural Electric Cooperative Association (NRECA). The bill, H.R. 3581, is intended to incorporate market risk into the cost of government credit programs, such as Freddie Mac and Fannie Mae, but would also...
South Carolina Energy Providers Promote Economic Development
Posted on Feb 2, 2012 in Economic Downturn, Rates, Regulation & Policy | Comments Off on South Carolina Energy Providers Promote Economic Development
A coalition of South Carolina energy providers, including the state-owned utility Santee Cooper and 20 coops, are implementing a new rate-cutting strategy to increase job growth in the state. The plan will reduce rates during “peak” periods for new and expanding industries that create a certain number of jobs or make a comparable monetary investment. Interested industrial customers...
New Mexico Coop Teams up for Space Travel
Posted on Nov 3, 2011 in Economic Downturn, Project Development | Comments Off on New Mexico Coop Teams up for Space Travel
Sierra Electric Cooperative will serve Spaceport America, a $209 million economic development project that will allow tourists to take suborbital excursions into space. Sierra Electric energized a dedicated line to the commercial space port and anticipates additional infrastructure investment as area development continues. Supporters of the project hope the influx of space tourists...
White House Rural Economic Forum Draws Electric Coop Participants
Posted on Aug 18, 2011 in Economic Downturn, Regulation & Policy | Comments Off on White House Rural Economic Forum Draws Electric Coop Participants
Several coop representatives and CEO of the National Rural Electric Cooperative Association (NRECA) Glenn English participated in the White House Rural Economic Forum held in Peosta, Iowa. The forum included President Obama, members of his cabinet, and a group of small business owners, farmers, rural organizations, all of whom discussed the twin goals of economic development and job...
Oklahoma Governor Seeks to Replenish Emergency Fund – Pay Back Coops
Posted on Aug 16, 2011 in Economic Downturn, Legislative & Politics | Comments Off on Oklahoma Governor Seeks to Replenish Emergency Fund – Pay Back Coops
After responding to various extreme weather events, cities, towns, and counties as well as certain electric coops are due reimbursement from the Oklahoma Emergency Fund. However, a lack of funding has left reimbursements unpaid since January 1, 2007. Electric coops are due approximately $20 million, and Governor Mary Fallin said she hopes state lawmakers will start replenishing the...
Tennessee Valley Authority Reports Losses for 2011 Third Quarter
Posted on Aug 15, 2011 in Economic Downturn, Rates | Comments Off on Tennessee Valley Authority Reports Losses for 2011 Third Quarter
In a filing with the Securities and Exchange Commission, the Tennessee Valley Authority (TVA), which provides power to 155 coops and municipal systems in the Southeast, recently reported that it lost $240 million on $2.7 billion in revenues for the quarter ending June 30. The TVA cited several reasons for the downturn, including adverse weather, refueling outages at its nuclear plants...
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