North Dakota Wind Farm Faces Unexpected Taxes
Posted on May 7, 2012 in Innovation/Efficiency, Tax, Technology | Comments Off on North Dakota Wind Farm Faces Unexpected Taxes
Basin Electric Power Cooperative, based in Bismarck, North Dakota, is paying nearly $800,000 in new tax revenue to school districts, counties and other governmental entities, which is about $300,000 more than projected by the South Dakota Public Utilities Commission two years ago. Taxes for the $363 million, 108-turbine wind project, located on 40,000 acres in three counties, are...
Rural Coops to Receive Millions in Loans to Improve Infrastructure and Install Smart Grid Technologies
Posted on May 7, 2012 in Financing, Grid & Infrastructure, Innovation/Efficiency, Project Development | Comments Off on Rural Coops to Receive Millions in Loans to Improve Infrastructure and Install Smart Grid Technologies
Agriculture Secretary Tom Vilsack has announced that rural electric coops in 10 states will receive loans, worth $334 million total, to install smart grid technologies and make improvements to their facilities. The loans will be provided by the USDA Rural Development’s Rural Utilities Service. The new funding includes almost $20 million to install smart grid technologies. In...
Coops’ Financial Positions Remain Strong According to 2011 Key Ratio Trend Analysis
Posted on May 4, 2012 in Financing | Comments Off on Coops’ Financial Positions Remain Strong According to 2011 Key Ratio Trend Analysis
Although load growth remains tepid, the various financial ratios that are used to evaluate the financial strength of coops continue to improve. According to the annual Key Ratio Trend Analysis by the National Rural Utilities Cooperative Finance Corporation (CFC), equity as a percent of assets increased to a five-year high of 42.24, percent and payments from consumers remained...
SMECO Ready to Construct Transmission Project
Posted on May 4, 2012 in Grid & Infrastructure, Project Development | Comments Off on SMECO Ready to Construct Transmission Project
The Southern Maryland Electric Cooperative (SMECO) announced it anticipates breaking ground on a $100 million transmission project this May, which will feature upgraded line poles able to carry more power with a more aesthetically pleasing appearance. Developers expect a project in-service date of March 2015. Click here for the full story.
North Dakota Cooperatives Pay Coal Conversion Tax Under Protest
Posted on May 3, 2012 in Tax | Comments Off on North Dakota Cooperatives Pay Coal Conversion Tax Under Protest
Basin Electric Power Cooperative and Minnkota Power Cooperative have each paid a North Dakota “coal conversion” tax under protest in anticipation of an upcoming vote by North Dakotans regarding whether to abolish property taxes, which would include the coal conversion tax. If approved, the change would apply retroactively to January 1. The coal conversion tax is assessed based on the...
Minnesota Coops to Test Smart-Grid Technology
Posted on May 3, 2012 in Energy Savings Programs, Grid & Infrastructure, Innovation/Efficiency | Comments Off on Minnesota Coops to Test Smart-Grid Technology
Three Minnesota cooperatives (Great River Energy, Minnesota Valley Electric Cooperative and Lake Region Electric Cooperative) are participating in a $5 million demonstration project to pay for new smart-grid software in attempts to smooth (and track) their customers’ demand. The Minneapolis Star-Tribune has more on the story.
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