New Mexico Coop Likely to Raise Rates in Response to Financial Strains
Posted on Aug 10, 2012 in Corporate Governance, Economic Downturn, Land Use, Rates | Comments Off on New Mexico Coop Likely to Raise Rates in Response to Financial Strains
Jemez Mountains Electric Cooperative may have to raise rates to cover deals it made years ago with local tribes for right-of-way easements for transmission lines that cross the property of eight pueblos and two tribes. The coop is facing another financial strain – it has only a month’s worth of cash left in the bank and is in default on $29 million owed to two lenders. The New Mexican has more here.
