Consolidation of Two Indiana Coops on the Horizon
Posted on Aug 11, 2011 in Mergers/Acquisitions | Comments Off on Consolidation of Two Indiana Coops on the Horizon
The Carroll County Rural Electric Membership Corporation (REMC) and the White County REMC are positioned to merge into a single electric coop by the end of 2011. The creation of Carroll White REMC would cut costs and save members at least $5.2 million over the first nine years, according to an outside accounting firm. White County members have already voted in support of the...
Homer Electric Association Positioned to Buy Power Plant
Posted on Jul 28, 2011 in Financing, Mergers/Acquisitions | Comments Off on Homer Electric Association Positioned to Buy Power Plant
Through its subsidiary Alaska Electric and Energy Cooperative, the Homer Electric Association (HEA) plans to purchase the Bernice Lake Power Plant with a generation capacity of roughly 69.9 MW for $11.8 million. The deal is conditioned on obtaining Regulatory Commission of Alaska approval to amortize the purchase price over several years. The plant is currently owned by the Chugach...
New Electric Coop Forming in Alaska
Posted on Jan 3, 2011 in Corporate Governance, Mergers/Acquisitions | Comments Off on New Electric Coop Forming in Alaska
The new electric coop will be called the Alaska Railbelt Cooperative Transmission and Energy Company. It is a combination of five utilities: Chugach, Matanuska, Homer, Seward, and Golden Valley electric associations. Additional details are here.
Former Louisiana Coop Members to Receive Capital Credit Checks
Posted on Dec 16, 2010 in Mergers/Acquisitions, Patronage Capital | Comments Off on Former Louisiana Coop Members to Receive Capital Credit Checks
Following the merger between Southwestern Electric Power Company and Valley Electric Membership Coop (VEMCO), nearly 5,000 former VEMCO members will receive capital credit checks, ranging from hundreds to thousands of dollars. The Shreveport Times has the details.
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