Minnesota Coop Members to Choose Method of Rate Increase
Posted on Apr 17, 2012
Lake Country Power Cooperative, the electricity supplier for much of rural northeastern Minnesota, is asking its members to vote on how rates should increase to cover a projected $1.5 million shortfall. Unlike other coops in the area, Lake Country Power’s 48,500 customers are often located far off of the main lines. The coop serves an average of only six consumers per mile of line. Lake Country Power will hold several information meetings for members prior to mailing a ballot, which will contain three rate increase options. The Duluth News Tribune has more here.
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Minnesota Coop Hit with Stray Voltage Verdict
Posted on Apr 12, 2012
A jury awarded $750,000 to a Minnesota dairy farmer for damages caused by stray voltage from the Wright-Hennepin Cooperative Electric Association electric system. The court also determined that electricity may be considered a trespass on property under certain circumstances. Whether the coop will appeal the verdict is not yet known. Click here for more information.
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Idaho Battle Over RECs Heats Up
Posted on Apr 12, 2012
The renewable energy credits (RECs) associated with renewable energy generation projects in Idaho are in high demand by the utilities that purchase power from the projects and the small power producers that generate it. Kootenai Electric Cooperative is one of many small generators trying to retain the marketable RECs, claiming the RECs are a separate product from the actual power produced. The Spokesman-Review has the full story.
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Approved Rate Increase for Kentucky Coop Less Than Expected
Posted on Apr 12, 2012
The Kentucky Public Service Commission (PSC) approved a $3.7 million rate increase for South Kentucky Rural Electric Cooperative Corporation (Kentucky RECC), less than half the amount originally applied for by the coop. Residential and small commercial customers will see an increase in monthly charges, but usage charges will remain the same. Citing current economic strains on consumers, the PSC refused to grant a larger increase, which Kentucky RECC had planned to use for capital credit payments to member-owners. Read more.
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Settlement May Be Last Hurdle for Construction of Plant Washington
Posted on Apr 12, 2012
Power4Georgians, a consortium of four Georgia electric membership cooperatives, has reached settlement terms with environmental groups opposed to the development of one of its projects, Plant Washington (an 850-megawatt, coal-fired plant in Sandersville, Georgia). Once the opposition groups sign the settlement, Power4Georgians will have the final state permit for construction of Plant Washington. Under the settlement, Power4Georgians agreed to comply with safeguards for mercury pollution and other air pollutants, forego building another coal-fired plant in Ben Hill County and invest $5...
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Coop Helps Jump Start Job Growth in South Carolina
Posted on Apr 10, 2012
South Carolina company Pee Dee Electricom, a subsidiary of Pee Dee Electric Cooperative, and Marion County have announced a partnership to build a 50,000-square-foot building in the Marion County Industrial Park. This building will be used to attract industry and jobs to Marion County. Construction is expected to be completed by September. Click here for more.
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IRS Form Change Affects Coops
Posted on Apr 10, 2012
An Internal Revenue Service (IRS) change could affect the way that electric coops report capital credits on federal tax forms. The change affects Form 990, which organizations exempt from federal income taxes must file annually to provide their financial information to the government. New language in the instructions of Form 990 states that “patronage dividends paid” by tax-exempt electric coops should be reported as “benefits paid to or for members” (Form 990, part IX, line 4). Uncertainty surrounding this language means that coops should consult their tax advisers. The form is due May...
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Western Coops Face Unpredictable Outages Due to Wild Weather
Posted on Apr 9, 2012
Several Western states have faced unpredictable weather this spring, which has caused ongoing challenges for electric coops attempting to keep power flowing to customers. In New Mexico, Springer Electric Cooperative, Inc., has been working to replace at least 150 poles and restore service to about one-third of the coop’s more than 3,000 consumer-members after snow and high winds battered its service territory on April 2. Many coops have experienced damages due to windstorms, such as Montana-based Flathead Electric Cooperative, which faced a loss of power to thousands of members after a...
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Nuclear Regulatory Commission Issues New Licenses for Nuclear Reactors
Posted on Apr 9, 2012
The Nuclear Regulatory Commission has approved a license for two new nuclear reactors in South Carolina. The new licenses come less than two months after the NRC issued its first new permit in more than 30 years for two units at the Alvin W. Vogtle Nuclear Plant in eastern Georgia. Marvin Fertel, president and CEO of the Nuclear Energy Institute, predicts that there will be an additional 5,600 megawatts of nuclear generating capacity on the Southeast’s electricity grid by the end of the decade. In South Carolina, two new reactors are expected to begin operating in 2017 and 2018 at the...
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National Rural Utilities Cooperative Finance Corporation Makes First Loan Sale to Bank
Posted on Apr 9, 2012
The National Rural Utilities Cooperative Finance Corporation (CFC) has finalized a $25 million loan sale to KeyBank National Association on behalf of KAMO Power, an Oklahoma-based cooperative. Although CFC has made more than $1 billion in loan sales to Farmer Mac over the past five years, this three-year, unsecured loan is the first loan sale made to a bank. KAMO plans to use the funds for a 345-kV transmission project that will stretch from the northeast corner of Oklahoma into Missouri. Click here for more.
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AECC Agrees to Long-Term Power Purchase Agreement for Wind Energy
Posted on Apr 6, 2012
Arkansas Electric Cooperative Corporation issued a press release yesterday announcing its agreement to purchase 51 MW of wind energy from the Flat Ridge 2 South Wind Farm in Kansas. The project is in the construction phase and is part of a larger 419-MW facility financed by BP and Sempra U.S. Gas & Power. Read more here.
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Wildfire Litigation Against Texas Coop Pushed to 2013
Posted on Apr 6, 2012
A large number of civil claims were filed against Bluebonnet Electric Cooperative following a fire in September 2011. Plaintiffs allege that the coop failed to remove dead trees and branches near power lines and that this failure contributed to the fire. A number of pretrial tasks, motions and proceedings are still outstanding, and it is expected the case won’t go to trial until summer 2013 at the earliest. The Bastrop Advertiser is covering this story.
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Iowa Coop Members Vote to Merge
Posted on Apr 5, 2012
Coop members have overwhelmingly approved the merger of Humboldt County Rural Electric Cooperative and Midland Power Cooperative. Merged operations are slated to begin in January 2013 under the name Midland Power Cooperative. Supporters of the merger cite it as a means to control operating costs and increase resources. Read more here.
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Texas Coop Lowers Price of Power, Cites Low Gas Prices
Posted on Apr 3, 2012
Historically low natural gas prices have again had a direct impact on electric coop rates. Texas-based Bluebonnet Electric Cooperative has lowered the cost of power for its members for the second time in six months, citing gas costs as the main contributing factor. Natural gas is used to generate about half of the electricity in Texas. (Subscription required for full article.)
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