Delaware Electric Cooperative Bid Declined for Electric Distribution System
Posted on Nov 17, 2011 in Grid & Infrastructure, Mergers/Acquisitions | Comments Off on Delaware Electric Cooperative Bid Declined for Electric Distribution System
Delaware-based Lewes Board of Public Works has rejected a $16 million bid by Delaware Electric Cooperative to purchase the board’s electric distribution system. In rejecting the offer, the Lewes board said it wished to retain the ability to exercise control over rates and to make decisions related to the reliability of its electric service. The Lewes board is still considering an...
Delaware Coop Makes Bid for City Electric System
Posted on Nov 14, 2011 in Mergers/Acquisitions, Rates | Comments Off on Delaware Coop Makes Bid for City Electric System
Delaware Electric Cooperative has tendered a $16 million offer to purchase Lewes Board of Public Works electric distribution system. The Board is considering an offer from the Delaware Electric Municipal Electric Corporation to become a full member of the DEMEC. Delaware Electric Coop’s CEO and President said that the Board’s consideration of the DEMEC offer prompted the coop to make...
Two Illinois Coops Announce Merger
Posted on Nov 4, 2011 in Corporate Governance, Mergers/Acquisitions | Comments Off on Two Illinois Coops Announce Merger
Farmers Mutual Electric Company and Jo-Carroll Energy, Inc. plan to merge into a single cooperative that will serve around 28,000 members. The proposed merger has been approved by the boards of each coop but remains subject to member approval. The resulting coop will serve both electric and natural gas customers. For more details on this proposed merger, see the Galena...
Two Iowa Coops Plan to Merge
Posted on Oct 31, 2011 in Mergers/Acquisitions | Comments Off on Two Iowa Coops Plan to Merge
Humboldt County Rural Electric Cooperative and Midland Power Cooperative are moving forward with a plan to merge. The boards of both coops have endorsed the proposed merger and a vote by the members likely will take place in March 2012. The Fort Dodge Messenger has more about the planned merger.
Tri-State Agrees to Purchase Combined Cycle Facility
Posted on Oct 7, 2011 in Mergers/Acquisitions | Comments Off on Tri-State Agrees to Purchase Combined Cycle Facility
Tri-State Generation and Transmission Association has agreed to a deal whereby Tri-State will purchase a 272 MW natural gas-fired combined cycle facility located in Colorado from Starwood Energy Group. The specific terms of the deal have not been made public, and closing remains subject to regulatory approvals. Powering the West has the full story.
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.
Rolling Hills Considering Merger Opportunity
Posted on Sep 19, 2011 in Mergers/Acquisitions | Comments Off on Rolling Hills Considering Merger Opportunity
In preliminary talks, the trustees of Rolling Hills Electric Cooperative, Inc., a Kansas coop, are considering a merger with DS&O Electric Cooperative. Inc. In a letter to its members, Rolling Hills described the talks as “preliminary” and “non-binding.” This story was reported by the Dierking Communications News Center.
Delaware Utility May be Purchased by Local Coop
Posted on Sep 6, 2011 in Mergers/Acquisitions | Comments Off on Delaware Utility May be Purchased by Local Coop
The city of Dover, Delaware’s Utility Committee has hired a consultant study the feasibility of selling the city’s electric utility to Delaware Electric Cooperative. The coop reports that it could be willing to pay around $100 million for Dover’s electric utility, and that its customers would save an average of 25 percent on their electric bills because of the coop’s...
Consolidation of Two Indiana Coops on the Horizon
Posted on Aug 11, 2011 in Mergers/Acquisitions | Comments Off on Consolidation of Two Indiana Coops on the Horizon
The Carroll County Rural Electric Membership Corporation (REMC) and the White County REMC are positioned to merge into a single electric coop by the end of 2011. The creation of Carroll White REMC would cut costs and save members at least $5.2 million over the first nine years, according to an outside accounting firm. White County members have already voted in support of the...
Homer Electric Association Positioned to Buy Power Plant
Posted on Jul 28, 2011 in Financing, Mergers/Acquisitions | Comments Off on Homer Electric Association Positioned to Buy Power Plant
Through its subsidiary Alaska Electric and Energy Cooperative, the Homer Electric Association (HEA) plans to purchase the Bernice Lake Power Plant with a generation capacity of roughly 69.9 MW for $11.8 million. The deal is conditioned on obtaining Regulatory Commission of Alaska approval to amortize the purchase price over several years. The plant is currently owned by the Chugach...
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