Update on Patronage Capital Cases, New Case Filed in North Carolina
Posted on Mar 10, 2011 in Patronage Capital | Comments Off on Update on Patronage Capital Cases, New Case Filed in North Carolina
A new patronage capital case has been filed in North Carolina – the first known patronage capital case of this kind to be filed in the state. The class (consisting of the estates of deceased members of South River Electric Membership Corp.) claims that the coop discounted accumulated capital credits of the deceased members at retirement and converted them to permanent equity by...
Texas Biomass Power Plant Given Approval
Posted on Mar 9, 2011 in Renewable Energy | Comments Off on Texas Biomass Power Plant Given Approval
East Texas Electric Cooperative has approved the development of a proposed 50 MW biomass power plant for approximately $190 million, which will use wood chips as fuel and be completed in 2014. Biomass Magazine has the story.
Judge Allows Old Dominion Lawsuit to Proceed
Posted on Mar 9, 2011 in Litigation | Comments Off on Judge Allows Old Dominion Lawsuit to Proceed
A judge has ruled that litigation by residents challenging Old Dominion Electric Cooperative’s proposed 1,500 MW coal plant in Dendron, Virginia, may proceed to trial. The Daily Press has more.
Editorialist Questions Current Renewable Policies
Posted on Mar 9, 2011 in Renewable Energy | Comments Off on Editorialist Questions Current Renewable Policies
An editorialist in the Raleigh News and Observer recently penned an article using the writer’s personal cooperative’s purchase of solar energy, which he noted was among the most expensive forms of power, to question the efficiency and efficacy of North Carolina’s renewable energy policies. Head over to the News and Observer for more.
Basin Completes Construction of Wind Farm
Posted on Mar 9, 2011 in Renewable Energy | Comments Off on Basin Completes Construction of Wind Farm
Basin Electric Power Cooperative has completed construction of its 108-turbine wind farm in South Dakota. The wind farm cost approximately $363 million and has a capacity of 162 megawatts. See The Dickinson Press for more on this story.
USDA Awards Funding Through RUS
Posted on Mar 8, 2011 in Financing | Comments Off on USDA Awards Funding Through RUS
The United States Department of Agriculture (USDA) has announced that it will provide $442 million in funding through its Rural Development’s Rural Utilities Service (RUS). This will result in rural electric cooperatives in eight states upgrading services to over 24,000 rural consumers with loan guarantees provided by USDA. The Gov Monitor has additional details as well as a state by...
Potential Litigation Regarding Massachusetts Wind Turbines
Posted on Mar 8, 2011 in Litigation, Renewable Energy | Comments Off on Potential Litigation Regarding Massachusetts Wind Turbines
Litigation regarding a Brewster, Massachusetts, planning board’s failure to move forward with the installation of two wind turbines (proposed by the Cape and Vineyard Electric Cooperative) on town-owned land may go to either state Land Court or Barnstable Superior Court. The Cape Cod Times has the rest of the story.
Former Director Of Georgia Coop Now Serving in State General Assembly
Posted on Mar 4, 2011 in Legislative & Politics, Regulation & Policy | Comments Off on Former Director Of Georgia Coop Now Serving in State General Assembly
Robert Dickey III, a former director of Flint Energies, was sworn in today after winning a special election. With his background in the coop industry, he will be a valuable addition to the energy and telecommunications committee. Electric Co-op Today has the full story.
Cobb EMC Board Drops Suit Against Members
Posted on Mar 3, 2011 in Corporate Governance, Derivative Suits | Comments Off on Cobb EMC Board Drops Suit Against Members
Cobb EMC announced that it would drop its February 2011 lawsuit where its board of directors filed suit in a Georgia court alleging that its members breached a previously reached settlement agreement. The board’s claim was that the members breached the agreement by seeking criminal prosecution of Dwight Brown, Cobb EMC’s embattled CEO. The Marietta Daily Journal has...
City of Great Falls Seeks Withdrawal from Co-op
Posted on Mar 2, 2011 in Corporate Governance, Litigation | Comments Off on City of Great Falls Seeks Withdrawal from Co-op
According to the Great Falls Tribune, the City of Great Falls, Montana, has formally requested to be relieved of all of its obligations as a member of Southern Montana Electric Generation and Transmission Cooperative. Although another member of Southern Montana is currently involved in litigation over a similar withdrawal request, the city hopes to resolve its request without going to...
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