New Legislation in Congress Could Save Coops Billions
Posted on Jul 6, 2020 in Financing, Legislative & Politics | Comments Off on New Legislation in Congress Could Save Coops Billions
Members of Congress introduced a bipartisan bill Thursday in both the House and Senate that could save electric cooperatives more than $10 billion by allowing them to reprice loans from the Rural Utilities Service at current low interest rates.
Aid for Coops Included in Coronavirus Federal Relief Bill
Posted on Apr 3, 2020 in COVID-19, Economic Downturn, Financing, Legislative & Politics | Comments Off on Aid for Coops Included in Coronavirus Federal Relief Bill
The National Rural Electric Cooperative Association (NRECA) urged Congress to include aid for electric cooperatives and their consumer-members as part of the federal relief efforts aimed at helping the struggling economy during the COVID-19 pandemic. The $2 trillion federal coronavirus relief bill passed by Congress offers millions in aid to consumers struggling to pay their utility...
USDA Announces $900 Million Investment in Rural Infrastructure
Posted on Mar 6, 2020 in Financing, Project Development, Regulation & Policy | Comments Off on USDA Announces $900 Million Investment in Rural Infrastructure
The United States Department of Agriculture (USDA) announced a $900 million investment to build and improve rural electric infrastructure across 16 states through its Electric Loan Program. The investment will result in new or improved electric line of over 2,700 miles. One of the largest recipients, East Kentucky Power Cooperative, will receive $347 million to improve power generation...
USDA Accepting Second Round ReConnect Applications
The U.S. Department of Agriculture (USDA) will begin accepting applications for the second round of the USDA ReConnect Program beginning on Friday, January 31. This round, which will total $550 million, will continue toward the goal of partnering with the private sector to improve broadband to rural...Coop Leaders Meet with FCC to Discuss Broadband
The Federal Communications Commission (FCC) released draft ground rules for obtaining funding from the Rural Development Opportunity Fund, an auction that will allocate a total of $20.4 billion to support the development of broadband networks in rural America. Coop leaders, including BARC CEO Mike Keyser and National Rural Electric Cooperative Association (NRECA) CEO Jim Matheson, took...Alabama Cooperatives Receive USDA Funding to Improve Rural Broadband
Posted on Dec 9, 2019 in Broadband, Financing, Grid & Infrastructure | Comments Off on Alabama Cooperatives Receive USDA Funding to Improve Rural Broadband
Four companies will use $62.3 million from the U.S. Department of Agriculture (USDA) to expand rural broadband infrastructure to parts of Alabama. Specifically, Tombigbee Electric Cooperative, Millry Telephone Co., Farmers Telecommunication Cooperative and National Telephone of Alabama are using grants from the USDA to improve e-connectivity. More than 8,000 rural households, 57 farms,...
Florida Coop to Receive $24.1 Million for Hurricane Michael Expenses
Posted on May 1, 2019 in Financing | Comments Off on Florida Coop to Receive $24.1 Million for Hurricane Michael Expenses
West Florida Electric Cooperative Association will receive $24.1 million from the Federal Emergency Management Agency (FEMA) for reimbursement of Hurricane Michael expenses. FEMA’s Public Assistance Program is an essential source of funding for communities recovering from federally-declared disasters or...
USDA Accepting Applications for Funding Through ReConnect
Posted on Apr 30, 2019 in Financing, Technology | Comments Off on USDA Accepting Applications for Funding Through ReConnect
The United States Department of Agriculture (USDA) recently established a loan and grant-based program to strengthen broadband in rural America. The program, known as the ReConnect Rural Broadband Pilot Program (ReConnect), will make at least $600 million available in rural broadband projects through the first round of...
Bipartisan Bill Could Boost Financing for Cooperatives
Posted on Mar 7, 2019 in Financing, Legislative & Politics | Comments Off on Bipartisan Bill Could Boost Financing for Cooperatives
The National Rural Electric Cooperative Association is working with a bipartisan group of lawmakers in Congress to pass legislation that would give electric cooperatives access to more money to modernize their plants and reduce costs for consumer-members. The proposed Improving Rural Access to Power Act would allow the Federal Home Loan Bank to voluntarily buy securities issued by a...
Report Shows Electric Cooperatives Fuel Economy
Posted on Mar 7, 2019 in Financing | Comments Off on Report Shows Electric Cooperatives Fuel Economy
Electric cooperatives have a broad financial impact on the United States, directly or indirectly supporting nearly 612,000 jobs each year and contributing hundreds of billions of dollars to the economy over a five-year period, according to a new analysis. “This report quantifies what many rural American families and businesses know well—electric cooperatives are powerful engines of...
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