CFC Funds Hydropower Plant 100 Years in the Making
Posted on Jul 5, 2012
Delta-Montrose Electric Association, based in Colorado, has broken ground on a hydropower plant whose plans date back to a visit from President William Taft in 1909. The $22 million in CREB financing will help pay for interest expenses for the plant. Natural Rural Utilities Cooperative Finance Corporation (CFC) applied for the CREBs on Delta-Montrose’s behalf in 2009. The CFC Solutions News Bulletin has additional information.
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NRECA Asks EPA to Withdraw Rule for Greenhouse Gas Emissions
Posted on Jul 5, 2012
The National Rural Electric Cooperative Association (NRECA) has asked the U.S. Environmental Protection Agency to withdraw a proposed rule for greenhouse gas emissions for new fossil-fuel-based power plants. According to the NRECA, the EPA is violating the law by classifying coal and natural gas baseload generation as interchangeable fuel sources. The NRECA says only some natural gas plants can meet the single emissions standard set by the EPA–essentially eliminating coal as a future baseload generation source. You can read more about the NRECA’s objections here.
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Coops Continue Post-Storm Restoration Efforts
Posted on Jul 5, 2012
Electric coops in the regions hit hard by storms have been working nonstop to restore power, all during one of the worst heat waves in history. An estimated 4 million people were left without power from Indiana to New Jersey. Some coops have taken advantage of social media or press releases to communicate with their members about expected outage times. For state-by-state details, read the entire story here.
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Coop Reaches Deal with Tribe on Easement
Posted on Jun 29, 2012
Jemez Mountains Electric Cooperative and the Ohkay Owingeh Tribe are seeking approval from the New Mexico Public Regulation Commission on a deal allowing the coop to maintain its infrastructure on tribal land for 25 years at a cost of $11.25 million. The negotiated agreement ends a previous arrangement that was largely based on oral agreements between the parties. The coop says it hopes to use the deal with Ohkay Owingeh as a model for negotiations with other tribes. Read more here.
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Dairyland Power Announces Settlement with Sierra Club and EPA
Posted on Jun 29, 2012
In a press release, Dairyland Power Cooperative, based in LaCrosse, Wisconsin, outlined the terms of its settlement of alleged emissions violations. Without conceding any violations of law, the coop has agreed to move forward with a number of emission reduction plans. Click here for more.
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New Mexico Litigation Involving Coop Moves Forward
Posted on Jun 25, 2012
A district court judge has allowed the filing of an amended complaint to replace an SEC board of trustees member with two other member-owners in litigation involving Socorro Electric Cooperative. The judge ruled that Carol Auffrey of Quemado and Herbert Myers of Socorro could replace SEC Trustee Charlie Wagner as representatives of the class in the countersuit despite protests that they were never actually a party to the litigation against Socorro. Coop members stand to gain damages in the amount of patronage capital that the complaint claims should have been retired and paid to them...
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Colorado Coop Rebuilds During Ongoing Fire
Posted on Jun 25, 2012
Poudre Valley Rural Electric Association is assessing fire damage and recovery efforts in the face of an ongoing wildfire that has burned more than 68,200 acres and destroyed 189 homes through June 21. Nearly 2,000 firefighters from several states are on the ground trying to control the fire which has caused nearly $20 million in damage. About 700 of the coop’s nearly 36,000 meters are currently without power. However, crews have restored service to some areas that were previously evacuated due to the fire threat. Click here for more on this ongoing story.
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Missouri Coop Closes Deal with CFC
Posted on Jun 25, 2012
Butler-based Osage Valley Electric Cooperative recently became The National Rural Utilities Cooperative Finance Corporation’s (CFC) newest 100-percent borrower, closing two transactions this spring. The 30-year loans, totaling approximately $33 million, will reportedly be used to refinance existing debt. To read more about the deal, click here.
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Coops Seek Exemption from CFTC Reporting
Posted on Jun 21, 2012
The National Rural Electric Cooperative Association (NRECA) is among the electric coop and municipal utility groups requesting exemption from new Commodity Futures Trading Commission (CFTC) new reporting requirements. As part of its implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFTC has developed a set of recordkeeping obligations that not-for-profit electric utilities say should not apply to them. Read the full story here.
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U.S. Senate Rejects Measure to Overturn MACT Standard
Posted on Jun 21, 2012
The U.S. Senate rejected a Republican-backed resolution that would have overturned the Environmental Protection Agency’s utility maximum achievable control technology (MACT) standard. This rule will require coal-fired power plants to reduce their emissions of mercury and other pollutants by more than 90 percent in four years. Click here for additional details (subscription required).
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Coal Makes a Comeback?
Posted on Jun 20, 2012
The Energy Information Administration (EIA) is predicting a slight rebound for coal’s share of U.S. baseload generation in 2013 due to projected higher natural gas costs and record coal stocks. In its July 12 energy forecast, the EIA calculated that electricity powered by coal will increase about 3 percent in 2013, compared to a projected 13 percent decrease predicted for 2012. This news may be particularly pleasing for end users, who are predicted to enjoy lower electricity prices based on depressed coal costs. Click here for more.
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North Dakota Coop to Open Natural Gas Plant
Posted on Jun 18, 2012
Basin Electric Power Cooperative, based in Bismarck, North Dakota, recently started work on a natural gas-fueled plant being built about 15 miles northwest of Williston. Project manager Myron Steckler says the new plant will be capable of generating 45 megawatts of power. The coop hopes to have the new facility operating by early 2013. Bloomberg BusinessWeek has the full story.
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Illinois Coop Closes $65 Million Syndication
Posted on Jun 18, 2012
Marion-based Southern Illinois Power Cooperative (SIPC) and The National Rural Utilities Cooperative Finance Corporation (CFC) recently arranged a four-year, $65 million unsecured revolving credit facility. CFC acted as lead arranger and lead lender in the transaction, which replaced a portion of an earlier syndication for SIPC. The funds will be used for general corporate purposes, including issuing letters of credit. Click here for more.
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Financing Secured for Two Iowa Wind Projects
Posted on Jun 18, 2012
With Rabobank and BayernLB providing credit facilities, the 36-MW Hawkeye and 50-MW Rippey wind farm projects continue to move forward. RPM Access, the developer, anticipates that the projects will be completed this fall. Central Iowa Power Cooperative has agreed to purchase energy from the facilities under long-term power purchase agreements. Read more here.
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