Tennessee Coop Proposes Purchase of Municipal Utility
Posted on Jun 1, 2015 in Mergers/Acquisitions | Comments Off on Tennessee Coop Proposes Purchase of Municipal Utility
Middle Tennessee Electric Membership Corporation (MTEMC) has proposed to the City of Murfreesboro its interest in purchasing and consolidating with the city’s municipal utility, Murfreesboro Electric Department (MED). The City of Murfreesboro is an “island” within MTEMC’s territory, and MTEMC leadership believes that a consolidation with MED would create efficiencies. Click here for...
Minnesota Public Utilities Commission Approves Cooperatives’ Acquisition of Interstate Power & Light
Posted on May 4, 2015 in Mergers/Acquisitions, Rates | Comments Off on Minnesota Public Utilities Commission Approves Cooperatives’ Acquisition of Interstate Power & Light
On April 30, 2015 the Minnesota Public Utilities Commission (MPUC) approved the sale of Interstate Power & Light (IPL), a privately-owned utility, to 12 cooperative utilities for $112 million. Most of the coops have higher electric rates than IPL, so the acquisition will mean higher prices for the 43,000 IPL customers, but the MPUC will monitor a plan that bars any increase in...
Washington Electric Cooperatives Consider a Merger
Posted on Apr 9, 2015 in Mergers/Acquisitions | Comments Off on Washington Electric Cooperatives Consider a Merger
Last week, Ralph Rise, the President of the Nespelem Valley Electric (NVE) board of trustees, announced that NVE is in discussions with the Inland Power & Light Company regarding a possible merger. The merger would have to be approved by a member vote. If approved it would join NVE, which serves about 1,500 accounts, with Inland Power & Light, which serves about 39,000...
Kentucky Cooperatives to Consider Merger
Posted on Jan 21, 2015 in Innovation/Efficiency, Mergers/Acquisitions | Comments Off on Kentucky Cooperatives to Consider Merger
The executive committees of the boards of West Kentucky Rural Electric Cooperative and Hickman-Fulton Counties Rural Electric Cooperative met last week to consider the possibility of a merger. The two cooperatives, which together serve 35,000 members, agreed to undertake a joint financial study to determine whether a merger would result in cost savings to members and protection of...
Michigan Coop Merger Talks Appear to Stall
Posted on Dec 9, 2014 in Corporate Governance, Mergers/Acquisitions, Rates | Comments Off on Michigan Coop Merger Talks Appear to Stall
Merger talks between the Alger Delta Cooperative Electric Association (Alger Delta) and Great Lakes Energy Cooperative have been complicated by Alger Delta’s “no sale” policy. Some members of the board for each coop remain interested in pursuing a merger. Proponents of a merger argue that it could reduce bills for some members of the combined entity by as much as $24 a month. Click...
Wyoming Coops Execute Management Services Agreement
Posted on Dec 3, 2014 in Corporate Governance, Mergers/Acquisitions | Comments Off on Wyoming Coops Execute Management Services Agreement
Beartooth Electric Cooperative (Beartooth) and Lower Valley Energy (LVE) have entered into a three-year contract for LVE to manage Beartooth in a deal that is expected to create significant savings for Beartooth and its members. To read more please click here.
Supreme Court Agrees to Review Significant EPA Rule
Posted on Dec 2, 2014 in Legislative & Politics, Litigation, Mergers/Acquisitions, Regulation & Policy | Comments Off on Supreme Court Agrees to Review Significant EPA Rule
The U.S. Supreme Court has agreed to review the new power plant emissions caps of the Environmental Protection Agency (EPA). The suit was brought by industry trade groups and almost two dozen states, who argued that the EPA did not adequately consider the costs associated with complying with this regulation. The immediate effect of any ruling in this case may be limited, as utilities...
Two Kansas Coops Establish Strategic Alliance
Posted on Oct 24, 2014 in Corporate Governance, Mergers/Acquisitions, Rates | Comments Off on Two Kansas Coops Establish Strategic Alliance
Kaw Valley Electric Cooperative and Leavenworth-Jefferson Electric Cooperative, both located in northeast Kansas, have established a strategic alliance in order to control costs while ensuring affordable and reliable service. A coop representative said that a consolidation of the coops could deliver cost savings of more than $13 million over 10 years. Trustees of both coops approved...
Michigan Coops Consider Merger Opportunity
Posted on Oct 17, 2014 in Mergers/Acquisitions, Rates | Comments Off on Michigan Coops Consider Merger Opportunity
Alger Delta Cooperative Electric Association (Alger Delta) may merge with Great Lakes Energy (GLE), according to an announcement made at Wednesday’s Alger Delta Board meeting. Alger Delta officials say that a merger would lead to more stable electric rates and would save its residential customers an estimated $24 per month. GLE, based in Boyne City, has 125,000 customers and...
City of Socorro Considers Coop Acquisition
Posted on Sep 19, 2014 in Corporate Governance, Mergers/Acquisitions | Comments Off on City of Socorro Considers Coop Acquisition
The city of Socorro, New Mexico, is analyzing the estimated costs involved in acquiring Socorro Electric Cooperative (Socorro) within the city limits. At least two-thirds of Socorro members must approve the sale should the deal move forward. Click here to read the full story.
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