Montana Coop Files for Bankruptcy Protection
Posted on Oct 24, 2011 in Corporate Governance, Financing | Comments Off on Montana Coop Files for Bankruptcy Protection
Southern Montana Electric Generation & Transmission Cooperative filed for Chapter 11 bankruptcy protection on October 21. Major creditors include the National Rural Utilities Cooperative Finance Corporation and PPL EnergyPlus. The Great Falls Tribune is covering this story.
Pedernales to Distribute Capital Credits
Posted on Oct 18, 2011 in Corporate Governance, Patronage Capital | Comments Off on Pedernales to Distribute Capital Credits
Pedernales Electric Cooperative will divvy out roughly $13.5 million in capital credits to current and former members. The distribution stems from Pedernales’ Capital Credits Policy implemented in April 2011 and is comparable to a quarter of Pedernales’ 2010 net margin. The Highlander has more.
Lewes Resolution Says No to Coop
Posted on Sep 29, 2011 in Corporate Governance, Mergers/Acquisitions, Regulation & Policy | Comments Off on Lewes Resolution Says No to Coop
The Lewes Board of Public Works determined it is not in the public’s interest to sell the city’s electric utility to Delaware Electric Cooperative. Local control, reliable service and good rate treatment already provided by the city’s utility were among the reasons residents supported the Board’s resolution. Click here for more.
Virginia Coop Applies for Approval of Prepaid Electric Service Program
Posted on Aug 19, 2011 in Corporate Governance, Rates | Comments Off on Virginia Coop Applies for Approval of Prepaid Electric Service Program
Rappahannock Electric Cooperative has developed a prepaid service program, and the coop is in the process of obtaining approval from the Virginia State Corporation Commission. If the coop’s program is approved, it would be the first coop to offer such a program in Virginia. Fredericksburg.com has more.
Coop Helps With Marketing of Paulding Northwest Atlanta Airport and Nearby Industrial Park
Posted on Aug 6, 2011 in Corporate Governance, Economic Downturn, Project Development, Regulation & Policy, Reliability | Comments Off on Coop Helps With Marketing of Paulding Northwest Atlanta Airport and Nearby Industrial Park
Greystone Power Corp., a Georgia electric membership cooperative, is working with county officials to promote the growth of aviation-related business at the airport and the adjacent 10,000-acre industrial park. The coop is highlighting its history of reliable electric service and its connections to state and local business leaders as a way to draw attention to the business development...
Missouri Coop Experiences Large Revenues Without Much Growth
Posted on Aug 4, 2011 in Corporate Governance, Patronage Capital | Comments Off on Missouri Coop Experiences Large Revenues Without Much Growth
At its annual meeting held in late July, the Platte-Clay Electric Cooperative reported strong operating revenues and $1.64 million in capital credits paid out to members this year. The coop’s leaders credit smart fiscal management for the numbers because the coop has experienced almost non-existent growth over the last few years. Also at the meeting, members approved certain bylaw...
New Mexico Electric Cooperative Strives to Comply with Sunshine Laws
Posted on Aug 1, 2011 in Corporate Governance, Regulation & Policy | Comments Off on New Mexico Electric Cooperative Strives to Comply with Sunshine Laws
For the second time this month, Socorro Electric Cooperative’s board of trustees held a meeting in an effort to comply with a revised set of bylaws that require the coop to follow sunshine laws. The board is having difficulty giving final approval on changes to their policies affected by the bylaw changes due to the lack of recording the outcome of votes during past meetings. To read...
Carroll Electric Responds to Members’ Complaint
Posted on Jul 28, 2011 in Corporate Governance, Litigation, Patronage Capital | Comments Off on Carroll Electric Responds to Members’ Complaint
Carroll Electric Cooperative Corporation issued a statement Tuesday in response to a July 19 complaint filed with the Arkansas Public Service Commission by cooperative members. Among other matters addressed in the complaint, members requested increased transparency and democratic governance of the coop. In its statement, Carroll Electric pointed to a May survey as evidence of member...
Carroll Electric Coop Faces Class Action
Posted on Jul 21, 2011 in Corporate Governance, Litigation | Comments Off on Carroll Electric Coop Faces Class Action
On Tuesday, members of the Carroll Electric Cooperative Corporation filed a class action complaint against the coop with the Arkansas Public Service Commission. The class seeks, among other things, increased transparency and democratic governance of Carroll Electric as well as patronage capital (the repayment of capital credits to coop members). Carroll County News has the...
Beartooth Electric Cooperative Members Seek to Replace Trustees
Posted on Jul 20, 2011 in Corporate Governance | Comments Off on Beartooth Electric Cooperative Members Seek to Replace Trustees
A group of members of the Beartooth Electric Cooperative in Montana has commenced efforts to replace the five trustees who voted to support increasing the debt limit for the construction of the Highwood Generating Station near Great Falls to $300 million. Additional details can be found here.
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