Customer Satisfaction With Energy Utilities Hits Decade High
Posted on Apr 20, 2011 in Corporate Governance, Rates | Comments Off on Customer Satisfaction With Energy Utilities Hits Decade High
According to the American Customer Satisfaction Index (ACSI), customer satisfaction with energy utilities has risen by 0.8 percent to 74.7 on the ACSI’s 0-100 index scale. This year, the ACSI expanded its coverage of energy utilities to include the three major categories of investor-owned, municipal and consumer-owned coops. Coops have much higher scores than investor-owed utilities,...
Pedernales Coop Board Expresses Cautious Support For Regulation Bill
Posted on Apr 19, 2011 in Corporate Governance, Legislative & Politics, Regulation & Policy | Comments Off on Pedernales Coop Board Expresses Cautious Support For Regulation Bill
Members of the Texas-based Pedernales Electric Cooperative board of directors said Monday that they will support Senator Troy Fraser’s latest attempt to impose state regulation on the coop if he addresses some concerns about the bill first. Pedernales continues to recover from a scandal that exposed closed-door practices, excessive spending and criminal activity. As some members noted...
New Mexico Coop Clashes With Critics Over Records Requests
Posted on Apr 19, 2011 in Corporate Governance, Litigation, Rates | Comments Off on New Mexico Coop Clashes With Critics Over Records Requests
Coop members who have requested records from New Mexico-based Kit Carson Electric Cooperative in preparation for an upcoming rate case say the coop is unfairly refusing to release the requested records. After hundreds of Kit Carson members protested a proposed rate hike, the New Mexico Public Regulation Commission, in January, ordered an investigation into the rate increase. Many of...
South River Electric Membership Cooperative Customers Challenge Board of Directors’ Seats
Posted on Apr 12, 2011 in Corporate Governance | Comments Off on South River Electric Membership Cooperative Customers Challenge Board of Directors’ Seats
Customers of South River Electric Membership Cooperative are challenging three seats on the board of directors, contending among other things that the coop’s chief executive is overpaid. See the Fayette Observer for more.
Cobb EMC Incurs Tens of Millions in Legal Fees
Posted on Apr 8, 2011 in Corporate Governance, Derivative Suits, Litigation | Comments Off on Cobb EMC Incurs Tens of Millions in Legal Fees
As reported by the Atlanta Journal Constitution, the embattled Georgia coop reported that it spent more than $10 million in legal fees for a period that covers just part of the coop’s recent legal troubles. The coop’s public relations firm declined to comment on Cobb EMC’s legal bills.
Yellowstone Valley Electric Cooperative’s Annual Meeting Highlights Growth and Cost Issues
Posted on Apr 6, 2011 in Corporate Governance, Litigation, Rates | Comments Off on Yellowstone Valley Electric Cooperative’s Annual Meeting Highlights Growth and Cost Issues
The Montana cooperative resumed growth in 2010, and the rates paid by its members were increased in January 2011 and may be increased again this year. Future rates are largely dependent upon the outcome of Yellowstone Valley’s litigation regarding its membership in Southern Montana Electric Cooperative. For more on this story, see the Big Sky Business Journal.
Members of Carroll Electric Cooperative Petition to Have Challenger Elected to the Board
Posted on Apr 4, 2011 in Corporate Governance | Comments Off on Members of Carroll Electric Cooperative Petition to Have Challenger Elected to the Board
In order for challenger Marcie Brewster to be added to the ballot for the 2011 board election, members of the Arkansas cooperative must obtain the signatures of one percent of Carroll Electric’s members. The members seeking Brewster’s nomination are dissatisfied with the fact that Carroll Electric holds its board meetings in private and will not make its board minutes publicly...
Take Back Cobb EMC Seeks Signatures to Oust Incumbents and Elect New Directors
Posted on Mar 21, 2011 in Corporate Governance, Derivative Suits, Legislative & Politics | Comments Off on Take Back Cobb EMC Seeks Signatures to Oust Incumbents and Elect New Directors
A group of Cobb EMC members called Take Back Cobb EMC seek to conduct a special meeting and board election in response to the present board’s decision to re-hire former CEO Dwight Brown as an independent consultant to Cobb EMC. Brown was recently indicted on multiple counts of theft and racketeering. Members kicked-off a petition drive over the weekend to collect signatures from...
Members of Cobb EMC Move to Unseat Board
Posted on Mar 18, 2011 in Corporate Governance | Comments Off on Members of Cobb EMC Move to Unseat Board
Members of Cobb EMC are planning to kick off a petition drive Saturday intended to oust the coop’s board. A group called Take Back Cobb EMC said the board’s decision to re-hire Dwight Brown, the coop’s indicted ex-CEO, is the reason. The group needs to submit signatures from 10 percent of the coop’s 190,000 customers to request the removal of a board member. The Atlanta...
Cobb EMC Board Drops Suit Against Members
Posted on Mar 3, 2011 in Corporate Governance, Derivative Suits | Comments Off on Cobb EMC Board Drops Suit Against Members
Cobb EMC announced that it would drop its February 2011 lawsuit where its board of directors filed suit in a Georgia court alleging that its members breached a previously reached settlement agreement. The board’s claim was that the members breached the agreement by seeking criminal prosecution of Dwight Brown, Cobb EMC’s embattled CEO. The Marietta Daily Journal has...
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