Energy Firms Concerned About the Impact of Dodd-Frank
Posted on May 20, 2011
Many members of the energy industry have voiced concern about proposed financial reform rules, but the U.S. Commodity Futures Trading Commission has not shown much willingness to keep the rules from affecting the industry, according to energy executives. Specifically, many energy firms want the CFTC to narrow its proposed definition of “swap dealers,” which energy representatives say could subject energy firms to new mandatory clearing and margin requirements in the over-the-counter derivatives market. According one industry representative, the new rules, if passed as approved, would force...
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Tempers Flare Over Rate Increase
Posted on May 19, 2011
Last month, Southern Montana Electric Transmission and Generation Cooperative approved a 4.5% wholesale rate increase for its members. One member, Yellowstone Valley Electric Cooperative, has voiced objections. The Billings Gazette reports.
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Alaska Coop Plans New Wind Farm
Posted on May 17, 2011
Golden Valley Electric Association in Fairbanks, Alaska, will make a final decision this Spring on whether to move forward and construct a $90 million 25-27 MW Eva Creek wind power project to be located south of Fairbanks. Wind power from Eva Creek would allow Golden Valley Electric Association to reduce its current dependence on high-cost oil-fired power and would provide a greener alternative to the its coal-fired plant resources. The utility plans to maximize its use of wind from Eva Creek during the winter, when electricity demand is high and its reliance on oil-fired power is also...
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Iberdrola Renewables Extends Agreement With Texas Coop
Posted on May 16, 2011
Iberdrola Renewables is extending an ongoing power purchase agreement with South Texas Electric Cooperative, which is the wholesale power provider to eight Texas electric cooperatives. South Texas will expand its existing 50 MW power purchase agreement with Iberdrola to 100.8 MW and extend it to May 31, 2026. Wind Power Intelligence has the full story.
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Socorro Electric Coop Settles Two Lawsuits
Posted on May 16, 2011
Socorro Electric Cooperative settled two wage and hours claims with former managers last month, paying out $30,000 in compensation for failing to settle within the time frame established by state law after the two employees were fired last August. Polo Pineda Jr., who served as the coop’s general manager, and Kathy Torres, an accounting manager with the company for 22 years, were fired last year after an investigation into financial irregularities. An audit revealed that the managers had taken out loans through the coop and failed to pay them back in a timely manner. The managers were fired...
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Alaska Coop Considering $90 Million Wind Power Project
Posted on May 16, 2011
Golden Valley Electric Association, located in Fairbanks, Alaska, is close to a final decision on its planned $90 million Eva Creek wind power project. The project would be located at Healy, south of Fairbanks. With a capacity of 25 megawatts to 27 megawatts, the project is expected to generate power for just under 9 cents per kilowatt hour, according to Gene Therriault, the coop’s vice president for natural resources. If the project gets final approval, construction will begin this summer on necessary infrastructure, such as improvements on an access road to the site. See the full story...
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Southern Montana’s Request for Restraining Order Against Member Rejected
Posted on May 13, 2011
Southern Montana Electric Generation & Transmission Cooperative, Inc. sought an injunction against Electric City Power, the municipal utility for the City of Great Falls, to stop it from terminating contracts with customers or delaying payment to Southern Montana. The court denied the request because it found that Electric City Power continues to pay Southern Montana and the contracts in question are due to expire in late June. The Great Falls Tribune has the full story.
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CFC Study Shows Coops’ Key Financial Ratios Improving in 2010
Posted on May 13, 2011
In its annual study, the National Rural Utilities Cooperative Finance Corporation (CFC) found that electricity sales increased, consumers continued to reliably pay their bills, and coops’ average times interest earned ratio increased from 2.27 to 2.42. See the CFC press release for more on how these factors strengthened coops’ finances.
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Fortistar Begins Construction on LFG Facility
Posted on May 11, 2011
Fortistar LLC has commenced construction on a 6.4MW landfill gas (LFG) power plant in eastern Henrico County, Virginia. Fortistar will sell the electricity it generates to Old Dominion Electric Cooperative. Additional details about the facility are here.
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TVA Forces Shutdown for Arab Electric Cooperative Customers
Posted on May 11, 2011
Due to instability in the power grid, TVA forced Arab Electric Cooperative in Alabama to not provide power to non-essential small business and industries. This action stopped power to almost one million customers. The Arab Tribune has more on the story.
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Sierra Club Litigation Stayed for Settlement Discussions
Posted on May 11, 2011
A federal judge has stayed discovery in the Sierra Club’s litigation against Dairyland Power Co-operative to allow for settlement discussions between the parties. The Sierra Club alleges that Dairyland violated the Clean Air Act and Wisconsin’s state implementation plan at two coal-fired power plants. See Law360 for additional details (subscription required).
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South Carolina Cooperative Enters Smart Grid Market
Posted on May 10, 2011
South Carolina’s Central Electric Power Cooperative recently approved the first paid WattBoss pilot program, which is set for deployment this year. The WattBoss technology, being introduced this year by Electranetics Inc., will share information with utilities and the customer, and will provide the customer with greater control of its consumption, thereby decreasing energy costs. Orders to supply this program in the coop are expected to exceed $230 million. More on the WattBoss program here.
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Missouri Cooperative Implements Innovative Funding Plan for Broadband Network
Posted on May 10, 2011
Co-Mo Electric Cooperative, an electric cooperative in Missouri, has implemented a novel way to raise community support for two pilot fiber-to-the-home (FTTH) networks. The coop plans to begin construction if it gets 35 percent of customers in its service area to pay a $100 deposit and commit to take one year of broadband service. The coop has also garnered the support of two local banks, which have agreed to pay the $100 deposit for their first customers to sign up. The target date to meet the 35 percent goal is May 16, 2011. If the target is not met by that date, the pilot networks will...
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DOE Recognizes Farmers Electric Cooperative as a Green Power Leader
Posted on May 10, 2011
The U.S. Department of Energy’s (DOE) National Renewable Energy Laboratory (NREL) recognized Farmers Electric Cooperative of Kalona, Iowa, in its annual assessment of leading utility green power programs. Using information provided by utilities, NREL has developed “Top 10” rankings of utility green power programs for 2010 in the following categories: total sales of renewable energy to program participants, total number of customer participants, the percentage of customer participation, green power sales as a percentage of total utility retail electricity sales, and the...
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