Some Members Challenge Rate Increases in Wake of Utility Merger
Posted on Nov 16, 2012 in Corporate Governance, Mergers/Acquisitions, Rates | Comments Off on Some Members Challenge Rate Increases in Wake of Utility Merger
Following the merger of Central Vermont Public Service with and into Green Mountain Power, two members of the surviving Green Mountain Power are protesting certain transmission-related rate increases before the Federal Energy Regulatory Commission. Although the rate increases are to be phased-in over time, the new transmission rates represent an increase of more than 75 percent. ...
Member Cooperatives Considering Legal Action Over Rate Hike
Posted on Nov 16, 2012 in Corporate Governance, Litigation, Rates | Comments Off on Member Cooperatives Considering Legal Action Over Rate Hike
Three member cooperatives of Tri-State Generation and Transmission Association Inc. (Tri-State) have objected to a 4.9 percent wholesale rate increase by filing a written complaint with the New Mexico Public Regulation Commission. The Santa Fe New Mexican is covering this story.
New Hampshire Coop Avoids Employee Strike
Posted on Oct 8, 2012 in Corporate Governance, Reliability | Comments Off on New Hampshire Coop Avoids Employee Strike
New Hampshire Electric Cooperative and its unionized employees ratified a new contract last Friday, which allowed the coop to avoid a looming strike at the utility that serves some 83,000 homes and businesses in all parts of the state. The vote to ratify the agreement came after months of negotiations between the utility and the International Brotherhood of Electrical Workers (IBEW)...
New Hampshire Electric Coop Lineworkers Threaten Strike
Posted on Oct 2, 2012 in Corporate Governance, Litigation | Comments Off on New Hampshire Electric Coop Lineworkers Threaten Strike
The union representing New Hampshire Electric Cooperative lineworkers says it is considering a strike after 117 bargaining sessions have failed to result in an agreement in the renegotiation of the lineworkers’ contract. The dispute involves wage and pension issues, and negotiators are scheduled to meet again Thursday. Read more here.
APSC Dismisses Class Action Complaint against Carroll Electric
Posted on Sep 25, 2012 in Corporate Governance, Derivative Suits, Litigation, Patronage Capital | Comments Off on APSC Dismisses Class Action Complaint against Carroll Electric
The Arkansas Public Service Commission (APSC) has dismissed a class action complaint against Carroll Electric Cooperative Corporation (Carroll Electric) filed on behalf of all Carroll Electric’s members. The complaint sought declaratory and injunctive relief for a number of what plaintiffs say are violations of Carroll Electric against its own bylaws and against contract law. These...
Sutherland Coop Webinar Series – Webinar II: Current Issues in Energy Trading Agreements
Posted on Sep 14, 2012 in Corporate Governance, Financing, Regulation & Policy, Webinar | Comments Off on Sutherland Coop Webinar Series – Webinar II: Current Issues in Energy Trading Agreements
David McIndoe, Tom Warren and J.J. Kubicek discussed current topics in master agreements for physical and financial energy trading and highlighted best practices and pitfalls in negotiating ISDA, EEI and NAESB Agreements. The presentation included issues raised by new rules under the Dodd-Frank Act. To view the webinar, click here.
Western Coop to Cut Costs Based on Consultants’ Report
Posted on Sep 7, 2012 in Corporate Governance, Economic Downturn | Comments Off on Western Coop to Cut Costs Based on Consultants’ Report
The board of financially distressed Jemez Mountains Electric Cooperative has voted to enact several measures identified in an operational assessment prepared by Henry Cano of the National Rural Electric Cooperative Association and two other consultants with solid coop experience. While the details of the plan have not yet been made public, the plan purportedly involves some layoffs, a...
Michigan Coop to be Member-Regulated
Posted on Aug 29, 2012 in Corporate Governance, Financing | Comments Off on Michigan Coop to be Member-Regulated
The Michigan Public Service Commission has approved the transition of Presque Isle Electric & Gas Co-op (Presque Isle) to member-regulation in accordance with a resolution adopted by Presque Isle’s board. This transition was approved once Presque Isle met all prerequisites required for exercising authority over its rates, charges, accounting standards, billing practices, and terms...
Discounting of Capital Credits of Deceased Members Upheld in North Carolina
Posted on Aug 16, 2012 in Corporate Governance, Litigation, Patronage Capital | Comments Off on Discounting of Capital Credits of Deceased Members Upheld in North Carolina
On August 8, 2012, the North Carolina Business Court held that electric cooperatives may lawfully discount capital credits of deceased members when they are retired early. The court also held that electric cooperatives do not owe a fiduciary duty to those members with respect to the timing and procedures for retiring capital credits. Read the full Sutherland Legal Alert.
PRC and New Mexico Coop Face Off over Internet Spin Off
Posted on Aug 13, 2012 in Corporate Governance, Rates, Regulation & Policy, Technology | Comments Off on PRC and New Mexico Coop Face Off over Internet Spin Off
Kit Carson Electric Cooperative (Kit Carson) is pushing back against the New Mexico Public Regulation Commission (PRC) order to spin off the coop’s subsidiary Internet business. In September 2011, the PRC approved a rate increase for Kit Carson but ordered the coop to create a separate internet company within nine months based on potential liabilities associated with the its Internet...
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