Missouri Coop Celebrates New $3 Million Home
Posted on May 2, 2011
Tri-County Electric Cooperative, Inc. recently moved into a new home. The coop chose to invest in the new building to replace its four former buildings, many of which had fallen into disrepair due to age. The board pursued repairing the older buildings, which ranged in age from 23-93 years, but it found a minimum cost of over $1 million. The board was able to secure interest rates below 4.5 percent on its new facility, and the 30-year note will be paid back by members at a charge of $2.70 per meter each month. The Kirksville Daily Express has the full story.
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Credit Quality of Coops Remains Strong
Posted on Apr 29, 2011
According to Standard & Poor’s Ratings Services, coops are emerging from the recession in sound financial condition. There are, however, some long-term uncertainties relating to the regulation of emissions that could adversely affect coops. See TD Waterhouse for more.
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Oregon Coop Unlikely to Be Exempted From Renewable Portfolio Standard
Posted on Apr 29, 2011
Umatilla Electric Cooperative has been seeking an exemption from the Oregon legislature, and the recent defeat of SB 955 raises doubts as to whether the coop will obtain an exemption from the Renewable Portfolio Standard (RPS) for large utilities, which requires that 25 percent of the coop’s energy come from renewables by 2025. The East Oregonian has the full story.
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Coops Working Hard to Restore Power After Alabama Storms
Posted on Apr 29, 2011
The Montgomery Advertiser reported that coop repair crews are traveling from other states to assist with the restoration efforts in Alabama. As many as 230,000 customers from thirteen different coops are without power across the state.
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Transmission Line Proposed to Serve New Pipeline
Posted on Apr 28, 2011
Basin Electric Power Cooperative proposes to build and oversee a 70-mile transmission line in South Dakota. The line would improve reliability and supply additional power needed to operate a Keystone XL oil pipeline proposed in the same area. While Basin Electric has yet to submit the project to the South Dakota Public Utilities Commission for approval, the coop plans to begin construction of the line in 2013 at a projected cost of $43 million. The Daily Republic has the full story.
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Vermont Coop Rejects Nuclear Power Deal
Posted on Apr 28, 2011
The board of directors of the Vermont Electric Cooperative rejected a deal on Tuesday to purchase power from Entergy Corp’s Vermont Yankee nuclear power plant citing sufficient supplies to service customers for the near-term. The power plant faces a March 2012 shutdown date unless the state legislature renews the plant’s operating license or Entergy can win a legal battle to prevent the shutdown. Read more.
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Proposed Coal Dust Tariff May Receive Coop Opposition
Posted on Apr 28, 2011
BNSF Railway’s recently proposed coal dust tariff will limit the amount of coal dust flying from trains leaving mines in Wyoming. Coop coal buyers, including Arkansas Electric Cooperative, are among those who have opposed previous attempts to restrict the release of coal dust. The new rules should be issued in the next few weeks and coop customers will need to decide whether to continue this dispute that began back in 2005. Click here for more information.
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Cobb Members Request FERC Investigation
Posted on Apr 27, 2011
Two Cobb EMC members have asked the Federal Energy Regulatory Commission to investigate the Marietta, Georgia-based electric coop claiming that the coop failed to disclose material information. The Atlanta Journal-Constitution has additional details.
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Legislation Regulating Pedernales Advances Out of Committee
Posted on Apr 27, 2011
Senate Bill 1743, which advanced out of the Texas Senate Committee on Business and Commerce on Tuesday, would mandate elections via single-member districts and require the Public Utilities Commission to approve all purchases of electric power generation equipment by Pedernales. See The Austin American-Statesman for the rest of the story.
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Legislation Laying Foundation for Iowa Nuclear Plant Approved
Posted on Apr 27, 2011
The Iowa House of Representatives approved legislation that would establish the financial parameters for MidAmerican Energy’s construction of a nuclear plant at an undisclosed location in Iowa. Additional details can be found at The Des Moines Register.
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James River Experiments Related to Coal Plant Approved
Posted on Apr 27, 2011
The Virginia Marine Resources Commission approved experiments in the James River in connection with a proposed $6 billion coal-fired power plant in Surry County according to the Virginian-Pilot.
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Western Farmers Fiduciary Suit Denied in Federal Court
Posted on Apr 26, 2011
On Friday, a federal court refused to certify a question to Oklahoma’s high court about the fiduciary relationship between Western Farmers Electric Cooperative (WEC) and its members. This case was prompted by member People’s Electric Cooperative’s (PEC) suit accusing WFEC of trying to monopolize the state energy market. Courts below had twice dismissed PEC’s claims of breach of fiduciary duty against WFEC, which PEC claims charged different prices to different member coops in violation of a supply agreement. The federal judge wrote that the issue in question was not case...
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North Dakota to Challenge EPA Takeover
Posted on Apr 26, 2011
North Dakota has declared its intent to challenge the EPA’s takeover of an air quality control program at two coal-fired power plants in the state once the EPA issues its final plan by May 13 of this year. The EPA seeks to control the coal plants’ operations for compliance with the federal Regional Haze program, according to the Bismarck Tribune.
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Cobb EMC Credits Customers
Posted on Apr 26, 2011
Cobb EMC will grant credits to its customers beginning in May because wholesale power costs have been less than anticipated by Cobb EMC’s latest wholesale power adjustment decrease. The May credits are the first part of a $14.5 million rebate to the Cobb EMC membership. About $4.5 million more in credits will be dispersed for the same reason later in the summer. Details on the credit plans can be found here.
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