Colorado Coop Positioned to Obtain More Wind Power
Posted on Apr 18, 2013
The 67-MW Colorado Highlands Wind project will provide 24 MW of additional generation output this July. Tri-State Generation and Transmission Association (Tri-State) will purchase the expanded generation output pursuant to its 20-year power purchase agreement. Tri-State already purchases the full 67-MW output from this wind facility. Click here for more information.
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Colorado Senate Passes Bill to Raise Renewable Energy Requirements
Posted on Apr 17, 2013
Colorado Senators passed a bill 18-17 this week that would dramatically raise renewable energy requirements for the state’s electric coops. The bill would require the electricity coops to get 25 percent of their energy from renewable sources by 2020, which is a 10 percent increase from present requirements. The bill also would limit consumer rate increases for these upgrades to 2 percent. The bill now heads to the House. Click here for more information.
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President’s 2014 Budget Includes Restrictions on Amounts and Use of RUS Loans
Posted on Apr 12, 2013
Under the proposed 2014 federal budget, the lending authority of the Rural Utilities Service (RUS) would be decreased from $6.5 billion to $4 billion, which RUS projects will be sufficient to meet the demand from borrowers. Of this new amount, $3 billion will be earmarked for generation with carbon sequestration and renewable energy, including peaking plants to complement intermittent renewable resources. The remaining $1 billion in lending authority will be available for pollution controls. The National Rural Electric Cooperative Association has pledged that it will work with members of...
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USDA Announces Funding for Rural Electric Cooperatives
Posted on Apr 10, 2013
Today the U.S. Department of Agriculture (USDA) announced plans to provide nearly $280 million in funding for projects designed to improve rural electric service. The funds, which will address service in rural areas across 13 states, will contribute to the construction of more than 1,900 miles of new or improved transmission and distribution lines. For a complete list of rural electric cooperatives receiving this USDA funding, click here.
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Utilities Victorious in Case Asserting Utility Poles Should be Subject to Environmental Regulation
Posted on Apr 9, 2013
A federal appeals court ruled against the Ecological Rights Foundation in finding that utility poles should not be regulated under the Clean Water Act. With fewer customers per mile of line than the industry average, coops would have felt a disproportionate impact of any regulation. The National Rural Electric Cooperative Association filed a brief in this case supporting the position that preservatives in the wood used in utility poles are not point sources of pollution as defined under the Clean Water Act. Electric Co-op Today has the full story.
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CFC Finalizes “Amend and Extend” Deal for Ohio G&T
Posted on Apr 9, 2013
The National Rural Utilities Cooperative Finance Corporation (CFC) recently closed an “amend and extend” (A&E) transaction for Columbus, Ohio-based Buckeye Power Inc. An A&E transaction allows the borrower to change the terms of an existing credit agreement, such as the maturity date and pricing, typically in exchange for a fee and, unlike refinancing, the original loan remains in place. The A&E transaction arranged for Buckeye amends a $200 million syndicated transaction that CFC arranged in 2011. Click here for more on this story.
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Wind Projects Cause Instability in Vermont Grid
Posted on Apr 9, 2013
The CEO of Vermont Electric Cooperative (VEC) has indicated that the coop will oppose any new large wind projects in northern Vermont because existing wind projects have introduced instability in the grid, prompting grid operator ISO-New England to order existing wind projects in Vermont and New Hampshire to curtail electricity output. As a result, wind farm turbines are not being allowed to operate at capacity. VEC and its partner Green Mountain Power, which own the Lowell wind project called Kingdom Community Wind, have lost approximately $1 million in electricity sales because of...
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Coop Enters the Computer Repair Business
Posted on Apr 9, 2013
Wyoming-based High West Energy, Inc., is getting into the computer repair business, through new subsidiary High West Digital Solutions. The coop, which provides electricity to 10,000 customers in Wyoming, Nebraska and Colorado, believes there is unmet demand for computer repair services in its geographical area. High West Digital Solutions will repair computers, remove viruses, build websites and provide other networking and programming services. Customers can even sign up for house calls. Click here for more.
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Colorado Seeks to Increase Coop Renewable Power Target
Posted on Apr 9, 2013
A Colorado state committee approved legislation this week that would require that 25 percent of Colorado’s electric coop electricity come from renewable sources by 2020. Investor-owned utilities in the state — Xcel Energy Inc. and Black Hills Energy — must by state law generate 30 percent of their electricity from renewable sources by 2020. Tri-State Generation and Transmission Association and rural electric coop officials sought to block the legislation in its current form, stating that the 25 percent target by 2020 was not feasible. For more on this story, click here.
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Two Hawaiian Islands Consider Possibility of Creating a Coop
Posted on Apr 2, 2013
The governments of the islands of Maui and Molokai in Hawaii are considering creating a new coop or municipal utility. A representative said that Maui County Mayor Alan Arakawa has stated that his preference is to continue working with Maui Electric Co. (MECO), a subsidiary of Hawaiian Electric Co. However, the county may try to form a municipal utility if MECO does not upgrade its facilities to add more solar and wind power capabilities. Pacific Business News has more on this story.
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Coops Gain Exemption From CFTC Regulations
Posted on Apr 2, 2013
The Commodity Futures Trading Commission (CFTC) voted unanimously on March 28 to exempt electric coops from certain regulations under the financial reform laws. Specifically, certain non-financial energy derivative transactions between and among coops and municipal utilities, federal power agencies, federal entities with electric assets, and Indian tribes will be exempt from most of the requirements of the Commodity Exchange Act. However, financially settled swaps done for speculative purposes between these entities would not be exempt. For more information, click here.
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CFC Arranges $100 Million Credit Facility for Indiana Coop
Posted on Mar 26, 2013
Indianapolis-based Wabash Valley Power Association recently closed on a $100 million syndicated transaction arranged by the National Rural Utilities Cooperative Finance Corporation (CFC). In addition to CFC, four other lenders participated in the five-year senior unsecured revolving credit facility, but CFC will serve as administrative agent for the facility, which consolidates the G&T’s bilateral lines of credit with CFC and several commercial banks. Click here to read more.
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Arkansas Coop Settles Religious Discrimination Suit
Posted on Mar 26, 2013
Arkansas-based Ozarks Electric Cooperative Corporation (Ozarks) has agreed to settle a lawsuit filed by a former employee and the U.S. Equal Employment Opportunity Commission (EEOC) for alleged religious discrimination. The EEOC alleged that Ozarks denied the employee a requested day off to attend a Jehovah’s Witness convention, then terminated her when she chose to attend the convention rather than report to work. The settlement includes a $95,000 payment for the former employee. Read more here.
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Rural Areas May Be Redefined
Posted on Mar 19, 2013
If the U.S. Department of Agriculture (USDA) has its way, the definition of “rural” would be amended to include areas with as many as 50,000 people. The goal of this recommendation, according to the USDA, is to make rural development programs more consistent. Others are concerned that such a change could be detrimental to less-populated, needy areas. The recommendation, if it passes, could affect NRECA-member coops. Read more here.
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