Iowa Legislators Back Coops Revisiting Denial of FEMA Aid
Posted on Jan 14, 2014 in Legislative & Politics, Regulation & Policy, Reliability | Comments Off on Iowa Legislators Back Coops Revisiting Denial of FEMA Aid
After being denied aid from the Federal Emergency Management Agency (FEMA) following an April 2013 ice storm, several Iowa coops, as well as the State of Iowa itself, appealed the agency’s decision. The Iowa congressional delegation has asked that FEMA revisit the decision, which Chuck Grassley, U.S. Senator from Iowa, says resulted from an “abrupt change of policy.” Click here for...
Basin Electric Transporting Coal by Trucks to Meet Demand
Posted on Jan 9, 2014 in Grid & Infrastructure, Innovation/Efficiency, Land Use, Reliability | Comments Off on Basin Electric Transporting Coal by Trucks to Meet Demand
Basin Electric Power Cooperative (Basin Electric) has been transporting coal via trucks to meet the demand of the Leland Olds Station, located near Stanton, North Dakota, since BNSF Railway can no longer guarantee its ability to get two 60-car coal trains on the rail tracks every day. The trucks providing the coal are now making about 250 hauls per day. The rail problem began last...
Coops Battle Frigid Temperatures
Posted on Jan 8, 2014 in Reliability | Comments Off on Coops Battle Frigid Temperatures
Cooperatives throughout the country are battling a bitter cold snap that has brought record low temperatures, snow and ice to hundreds of cooperative territories. The weather has caused some cooperatives to issue calls for conservation and has kept line crews busy for several days. To read more about how the winter weather is affecting cooperatives, click here.
Texas Coop Refinances with CFC
Posted on Jan 7, 2014 in Financing | Comments Off on Texas Coop Refinances with CFC
Swisher Electric Cooperative, based in Tulia, Texas, recently reached out to the National Rural Utilities Cooperative Finance Corporation (CFC) to refinance $10 million in outstanding debt from other lenders. This move, combined with a long-standing relationship with CFC, makes Swisher officially a 100-percent CFC borrower. Read more here.
Fitch Releases Positive Report on Electric Coops
Posted on Jan 6, 2014 in Financing | Comments Off on Fitch Releases Positive Report on Electric Coops
Fitch Ratings (Fitch) released a January 6 report on electric coops that highlights their generally strong financial position. The report called the electric coop sector fundamentally sound and said that coops are experiencing “a financial coming of age.” Fitch noted that in addition to factors that have traditionally strengthened the financial position of coops like the existence of...
Short-Term Deal Made to Maintain Grid Reliability
Posted on Jan 2, 2014 in Grid & Infrastructure, Litigation, Reliability | Comments Off on Short-Term Deal Made to Maintain Grid Reliability
The Electric Division, based in Wallingford, Connecticut, and the Connecticut Municipal Electric Energy Cooperative (CMEEC) have reached a short-term agreement to ensure critical transmission data continues to flow between Wallingford and the regional grid operator ISO-New England. The Electric Division will have access to CMEEC’s transmitting equipment until June, at which time the...
North Carolina Coop Authorizes $3 Million in Capital Credits
Posted on Jan 2, 2014 in Corporate Governance, Patronage Capital | Comments Off on North Carolina Coop Authorizes $3 Million in Capital Credits
Members receiving electric service in 2011 and 2012 from EnergyUnited and in 1986 and 1987 from Crescent EMC or Davidson EMC (which later consolidated with EnergyUnited) were refunded $3 million in capital credits in December 2013. The Dispatch has the full story.
Arkansas Coop Refunds $6.5 Million in Capital Credits
Posted on Jan 2, 2014 in Corporate Governance, Patronage Capital | Comments Off on Arkansas Coop Refunds $6.5 Million in Capital Credits
First Electric Cooperative members saw a refund in the form of $6.5 million in capital credits in late 2013. The amount represents a retirement of 1986 capital credits and a portion of all years through 2012. Click here for more information.
New England Coops Recovering from Winter Storms
Posted on Jan 2, 2014 in Grid & Infrastructure | Comments Off on New England Coops Recovering from Winter Storms
A Vermont Electric Cooperative representative said that the late December ice storms in the area will lead to its most expensive restoration effort ever, potentially topping $6.5 million in cost. Other Northeast coops are facing the same challenges; Maine had more than 3,200 customers without power on Christmas Eve. Progress is being made quickly as coop employees cooperate to make...
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