Energy Firms Concerned About the Impact of Dodd-Frank
Posted on May 20, 2011 in Regulation & Policy | Comments Off on Energy Firms Concerned About the Impact of Dodd-Frank
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...
Tempers Flare Over Rate Increase
Posted on May 19, 2011 in Rates | Comments Off on Tempers Flare Over Rate Increase
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.
Alaska Coop Plans New Wind Farm
Posted on May 17, 2011 in Project Development, Renewable Energy | Comments Off on Alaska Coop Plans New Wind Farm
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...
Iberdrola Renewables Extends Agreement With Texas Coop
Posted on May 16, 2011 in Corporate Governance, Environmental, Renewable Energy | Comments Off on Iberdrola Renewables Extends Agreement With Texas Coop
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.
Socorro Electric Coop Settles Two Lawsuits
Posted on May 16, 2011 in Litigation | Comments Off on Socorro Electric Coop Settles Two Lawsuits
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...
Alaska Coop Considering $90 Million Wind Power Project
Posted on May 16, 2011 in Project Development, Renewable Energy | Comments Off on Alaska Coop Considering $90 Million Wind Power Project
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...
Southern Montana’s Request for Restraining Order Against Member Rejected
Posted on May 13, 2011 in Corporate Governance, Litigation | Comments Off on Southern Montana’s Request for Restraining Order Against Member Rejected
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...
CFC Study Shows Coops’ Key Financial Ratios Improving in 2010
Posted on May 13, 2011 in Economic Downturn, Rates | Comments Off on CFC Study Shows Coops’ Key Financial Ratios Improving in 2010
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.
Fortistar Begins Construction on LFG Facility
Posted on May 11, 2011 in Renewable Energy | Comments Off on Fortistar Begins Construction on LFG Facility
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.
TVA Forces Shutdown for Arab Electric Cooperative Customers
Posted on May 11, 2011 in Uncategorized | Comments Off on TVA Forces Shutdown for Arab Electric Cooperative Customers
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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