Proposed Kentucky Legislation Would Force Coop Merger
Posted on Feb 22, 2013 in Legislative & Politics, Mergers/Acquisitions, Rates | Comments Off on Proposed Kentucky Legislation Would Force Coop Merger
A proposed Kentucky legislative bill would force Big Rivers Electric Corporation (Big Rivers) and East Kentucky Power Cooperative to merge “as quickly as can be reasonably and economically accomplished.” House Bill 423 is intended to address the significant rate hike Big Rivers customers may face due to the coop’s impending loss of approximately 70 percent of its power sales to two...
New Mexico Electric Rates Still in Limbo
Posted on Feb 20, 2013 in Rates, Regulation & Policy | Comments Off on New Mexico Electric Rates Still in Limbo
Kit Carson Electric Cooperative and its power supplier, Tri-State Generation and Transmission Association, Inc. (Tri-State), continue their battle over electric rates before the New Mexico Public Regulation Commission (PRC). The PRC has responded to Tri-State’s arguments that this issue is beyond state regulator jurisdiction by claiming that Tri-State is trying to circumvent the law. ...
Members and Other Customers Intervene in Big Rivers’ Request for a Rate Increase
Posted on Feb 1, 2013 in Economic Downturn, Rates | Comments Off on Members and Other Customers Intervene in Big Rivers’ Request for a Rate Increase
To make up for the loss of its biggest customer, Century Aluminum in Hawesville, Kentucky, Big Rivers Electric Corporation has requested a rate increase in a filing with the Kentucky Public Service Commission. Some of the coop’s distribution members and industrial customers have filed as interveners seeking to have more input into the process. The Owensboro Messenger-Inquirer has the...
Court Rules that LCRA Did Not Violate Wholesale Agreements
Posted on Jan 28, 2013 in Litigation, Rates | Comments Off on Court Rules that LCRA Did Not Violate Wholesale Agreements
The Lower Colorado River Authority (LCRA) was victorious last Thursday when a Travis County, Colorado, district judge held that LCRA had not violated power agreements with four of its wholesale electric customers because it had not breached a contract clause requiring that all of its customers be offered the same rate. The customers, which are utilities that sell electricity...
Tri-State to Challenge Jurisdiction of New Mexico Public Regulation Commission Over Rates
Posted on Jan 28, 2013 in Litigation, Rates | Comments Off on Tri-State to Challenge Jurisdiction of New Mexico Public Regulation Commission Over Rates
The board of Tri-State Generation and Transmission Association, Inc. recently voted to move forward with a legal challenge of the Public Regulation Commission’s (PRC) jurisdiction over rate increases for distribution coops in New Mexico. This move comes after the PRC determined in December 2012 that the distribution coops had raised valid concerns regarding the rate increases. The...
Hefty Rate Increase in Kentucky on the Horizon
Posted on Jan 17, 2013 in Economic Downturn, Rates | Comments Off on Hefty Rate Increase in Kentucky on the Horizon
Western Kentucky-based Big Rivers Electric Corporation has requested a wholesale rate hike from the Kentucky Public Service Commission. Under the proposal, residential customers would see up to a $24 per month increase on their power bills and large industrial consumers would face between a 15 and19 percent rate increase. The move comes in reaction to Big Rivers’ largest customer, an...
Illinois G&T Coop Receives Long-Term Rating of A- for Senior Secured Bonds
Posted on Jan 15, 2013 in Patronage Capital, Rates | Comments Off on Illinois G&T Coop Receives Long-Term Rating of A- for Senior Secured Bonds
Prairie Power, Inc. (PPI) recently received a long-term rating of A- with a stable outlook by Kroll Bond Rating Agency (KBRA) for all of its $471.3 million of senior secured debt as of November 1, 2012. PPI is an electric generation and transmission coop that serves central Illinois. This is KBRA’s first G&T coop rating and marks its entry into this market. Read more...
Coop Seeks Expedited Ruling to Prevent Tribal Takeover
Posted on Jan 14, 2013 in Corporate Governance, Litigation, Rates, Reliability | Comments Off on Coop Seeks Expedited Ruling to Prevent Tribal Takeover
After filing an amended complaint on December 14, the Northern Rio Arriba Electric Cooperative is asking a federal judge for an expedited ruling to prevent a New Mexico tribal authority from potentially taking ownership of its electric distribution system on a Northern New Mexico Indian reservation as early as next month. The coop is also seeking an order that would compel the...
Colorado Coop Closes on Syndicated Line of Credit
Posted on Jan 14, 2013 in Corporate Governance, Financing, Rates | Comments Off on Colorado Coop Closes on Syndicated Line of Credit
Brighton-based United Power, Inc. (UPI), which is a 100-percent National Rural Utilities Cooperative Finance Corporation (CFC) borrower, has closed on a $30 million syndicated line of credit arranged by CFC. The three-year unsecured line of credit replaces an existing perpetual line, and it is the second line of credit arranged by CFC for an electric distribution coop. The first line...
FERC Notes Coop Smart Grid Growth
Posted on Jan 8, 2013 in Energy Savings Programs, Environmental, Grid & Infrastructure, Innovation/Efficiency, Rates, Technology | Comments Off on FERC Notes Coop Smart Grid Growth
The use of smart grid technologies by coops is being recognized on a national level. A report issued in December 2012 by the Federal Energy Regulatory Commission (FERC) stated that coops are still national leaders in implementing advanced metering. According to the FERC report, advanced metering use among coops increased from 16.4 percent in 2008 to 24.7 percent in 2010 to 30.9...
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