Iowa Electric Co-ops Plan January 1 Merger
Posted on Dec 9, 2016 in Mergers/Acquisitions | Comments Off on Iowa Electric Co-ops Plan January 1 Merger
Tri-County Electric Cooperative, based in Rushford, Iowa, and Hawkeye REC will merge to become MiEnergy Cooperative on January 1, 2017. The two electric cooperatives had already been pooling resources for more than a decade to help save on costs and shared the same CEO, Brian Krambeer, for the past seven years. Krambeer stressed the announcement makes the cooperatives stronger and...
Electric Cooperatives Terminate Merger Discussions
Posted on Nov 4, 2016 in Mergers/Acquisitions | Comments Off on Electric Cooperatives Terminate Merger Discussions
Wyoming-based Lower Valley Electric and Idaho-based Fall River Rural Electric Cooperative have ended negotiations regarding a potential merger. The opportunity to streamline the two organizations could potentially save almost $3 million per year for 10 years, but the cooperatives could not agree on issues such as governance and member representation.
Coop Sells Assets to Native American Tribe
Posted on Nov 4, 2016 in Mergers/Acquisitions | Comments Off on Coop Sells Assets to Native American Tribe
Washington’s Benton Rural Electric Association (Benton REA) has announced the sale of $24 million worth of transmission facilities to the Yakama Nation Reservation. As a result of the sale, the Yakama Reservation electric utility will take over operations of 574 miles of power lines and service to 2,000 accounts located within the reservation. Benton REA will continue serving...
D.C. Circuit Hears Challenge to Clean Power Plan
Posted on Sep 28, 2016 in Climate Change, Corporate Governance, Derivative Suits, Economic Downturn, Energy Savings Programs, Environmental, Financing, Grid & Infrastructure, Innovation/Efficiency, Land Use, Legislative & Politics, Litigation, Mergers/Acquisitions, Patronage Capital, Permitting, Project Development, Rates, Regulation & Policy, Reliability, Renewable Energy, Tax, Technology | Comments Off on D.C. Circuit Hears Challenge to Clean Power Plan
Ten D.C. Circuit judges heard argument regarding the EPA’s authority to enact the Clean Power Plan and the rule’s constitutionality. All active judges on the D.C. Circuit, with the exception of Merrick Garland, heard arguments from state government, power industry groups, the federal government and environmental groups.
GridLiance to Purchase Transmission System from Valley Electric Association
Posted on Sep 27, 2016 in Grid & Infrastructure, Mergers/Acquisitions | Comments Off on GridLiance to Purchase Transmission System from Valley Electric Association
The Board of Directors of Valley Electric Association has approved the sale of its 230 kV High Voltage Transmission System to GridLiance Holdco, L.P. (GridLiance). The acquisition consists of approximately 160 miles of transmission lines and related substation equipment.
Hawaii Consumer Groups Push for Coop Utility after Failed Merger
Posted on Jul 20, 2016 in Mergers/Acquisitions | Comments Off on Hawaii Consumer Groups Push for Coop Utility after Failed Merger
Since a merger between NextEra Energy and Hawaiian Electric failed, consumer groups in Hawaii are considering next steps for the state’s largest utility and creating the state’s second electric coop. The island of Kauai currently has an electric coop that was formed in 2002 when it bought the local utility for $215 million.
Middle Tennessee Cooperative Withdraws Offer to Purchase Electric Utility
Posted on May 20, 2016 in Corporate Governance, Mergers/Acquisitions | Comments Off on Middle Tennessee Cooperative Withdraws Offer to Purchase Electric Utility
Middle Tennessee Electric Membership Corp. informed the Mayor of Murfreesboro that it has withdrawn its offer to purchase Murfreesboro Electric Department which was recently valued between $175.5 million and $247.3 million. The City Council is discussing whether to take away the utility’s authority to make decisions as a governing body and convert the members into an advisory board to...
Wabash Valley Power Association Purchases Participation Interest in Illinois Power Plant
Posted on May 20, 2016 in Economic Downturn, Mergers/Acquisitions | Comments Off on Wabash Valley Power Association Purchases Participation Interest in Illinois Power Plant
Wabash Valley Power Association purchased a 5 percent participation interest in a 1,600-MW coal-powered electric plant in the Prairie State Energy Campus for $57 million. The Campus, operational since 2012, is comprised of a power plant and an adjacent coal mine. The deal was completed a day after Peabody Energy received final approval on a financing package that puts it on a path...
Kansas Electric Cooperatives to Merge
Posted on Apr 20, 2016 in Mergers/Acquisitions | Comments Off on Kansas Electric Cooperatives to Merge
Leavenworth-Jefferson Electric Cooperative and Kaw Valley Electric Cooperative have approved a formal plan to merge and become FreeState Electric Cooperative, Inc. (FreeState), effective January 1, 2017. With 14,691 member-owners, FreeState will be the largest rural electric cooperative in eastern Kansas.
GridLiance Holdco Acquires Transmission Assets of Tri-County
Posted on Apr 8, 2016 in Mergers/Acquisitions, Reliability | Comments Off on GridLiance Holdco Acquires Transmission Assets of Tri-County
Tri-County Electric Cooperative (Tri-County) sold its transmission substations in Oklahoma’s panhandle and turned over the operation and maintenance of 410 miles of power lines to GridLiance Holdco (GridLiance) on April 1. The acquisition fits into GridLiance’s partnership model with respect to assisting electric cooperatives solve transmission issues and paves the way for future...
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