Power Supply Cost Recovery Factor Approved for Cloverland Electric Cooperative
Posted on Apr 13, 2011 in Rates | Comments Off on Power Supply Cost Recovery Factor Approved for Cloverland Electric Cooperative
The Michigan Public Service Commission recently approved a settlement agreement authorizing Cloverland Electric Cooperative to implement a power supply cost recovery factor of up to 2.16 mills per kilowatt-hour in its monthly bills to its retail electric customers. See the Michigan Department of Energy, Labor, Economic Growth for additional details.
Vermont Bill May Make “Net-Metering” More Attractive
Posted on Apr 13, 2011 in Rates, Renewable Energy | Comments Off on Vermont Bill May Make “Net-Metering” More Attractive
A bill has just passed the Vermont House that would provide greater financial incentives for net-metering. Vermont’s net-metering program lets residents and businesses generate their own power using grid-connected systems and, when necessary, tap into electricity from the local utility, Vermont Electric Cooperative. When excess power is produced, residents can send it back into the...
Power Cooperative Named Wind Cooperative of the Year
Posted on Apr 13, 2011 in Uncategorized | Comments Off on Power Cooperative Named Wind Cooperative of the Year
The U.S. Department of Energy has announced that Minnkota Power Cooperative has received the 2010 Wind Cooperative of the Year Award. See the DOE press release for more on the award.
Bonneville Power Administration Rules May Adversely Affect Wind Generators
Posted on Apr 12, 2011 in Renewable Energy | Comments Off on Bonneville Power Administration Rules May Adversely Affect Wind Generators
Bonneville Power Administration has proposed rules that will essentially allow it to shut out wind generators in the event that federal dams are at maximum generation and the transmission grid can export no more power. The Spokesman Review has the rest of the story.
South River Electric Membership Cooperative Customers Challenge Board of Directors’ Seats
Posted on Apr 12, 2011 in Corporate Governance | Comments Off on South River Electric Membership Cooperative Customers Challenge Board of Directors’ Seats
Customers of South River Electric Membership Cooperative are challenging three seats on the board of directors, contending among other things that the coop’s chief executive is overpaid. See the Fayette Observer for more.
Old Dominion Issues First Mortgage Bonds
Posted on Apr 12, 2011 in Financing | Comments Off on Old Dominion Issues First Mortgage Bonds
Old Dominion Electric Cooperative issued $350 million of first mortgage bonds in a private placement, the proceeds of which will be will be used to repay $215 million First Mortgage Bonds, 2001 Series A due June 1, 2011, and for general corporate purposes. See Old Dominion’s Form 8-K for additional details.
Cobb EMC Incurs Tens of Millions in Legal Fees
Posted on Apr 8, 2011 in Corporate Governance, Derivative Suits, Litigation | Comments Off on Cobb EMC Incurs Tens of Millions in Legal Fees
As reported by the Atlanta Journal Constitution, the embattled Georgia coop reported that it spent more than $10 million in legal fees for a period that covers just part of the coop’s recent legal troubles. The coop’s public relations firm declined to comment on Cobb EMC’s legal bills.
Executive of Kentucky Coop Warns of the Impacts that Proposed EPA Rules Will Have on Industrial Customers
Posted on Apr 8, 2011 in Environmental, Legislative & Politics, Rates, Regulation & Policy | Comments Off on Executive of Kentucky Coop Warns of the Impacts that Proposed EPA Rules Will Have on Industrial Customers
Mark Bailey, CEO of Big Rivers Electric Corporation, spoke before a U.S. House subcommittee regarding the costs of the proposed regulations that the coop would be forced to pass along to its industrial base. A significant portion of the coop’s total power is used by energy intensive aluminum smelters that may be forced to relocate abroad in order to avoid higher electric rates. Roll...
Missouri Senate Committee Approves Nuclear Site Permitting Bill
Posted on Apr 6, 2011 in Legislative & Politics, Permitting, Regulation & Policy | Comments Off on Missouri Senate Committee Approves Nuclear Site Permitting Bill
After being approved by the Missouri Senate Commerce Committee in a 7-2 vote, the bill now moves to the full Missouri Senate. A group of electric utilities, including electric cooperatives, has been advocating for the bill’s passage in order to keep nuclear as an option for baseload power. Co-Mo Electric Cooperative has the full story.
Ten Electric Cooperatives Awarded Funding for Transmission, Distribution and Smart Grid Improvements
Posted on Apr 6, 2011 in Energy Savings Programs, Financing, Grid & Infrastructure, Innovation/Efficiency | Comments Off on Ten Electric Cooperatives Awarded Funding for Transmission, Distribution and Smart Grid Improvements
According to a USDA news release, the $376 million awarded as loans to coops will promote efficiency and improve reliability for more than 20,000 coop customers. The loans include almost $14 million for smart grid technologies.
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