News

The cooperative’s 73^rd Annual Meeting of Members was held on Wednesday, May 26, at Miami University’s Millett Hall. More than 850 members and guests attended. Tom McQuiston, president of the cooperative’s Board of Trustees, welcomed attendees. “During these challenging economic times, we continue to be sensitive to the concerns and needs of our members,” Tom said. “To stay as efficient as possible, we have taken steps to reduce costs and refocus on our priorities. However, in doing so, we will no compromise our basic principles – safety, financial stability, system reliability and quality customer service.” Tom explained the cooperative’s construction plan, which focuses on reliability. “We are constantly seeking ways to improve our system and operations. To that end, the board adopts Construction Work Plans to address reliability issues and to provide us with a road map of where we are going.” A source of frustration for the board and employees of the cooperative is the reliability issues that members served by the New Biddinger substation have had to endure. “Our plan to repower the New Biddinger substation by constructing our own transmission line from a completely difference source is now in motion. We have completed the design phase of the project and are now taking bids for the construction phase. The planned completion date for the project is November, 2011.” Tom assured the attendees that their cooperative remains financially strong, fully able and ready to meet the many challenges it faces, committed to our cooperative principles and working hard to meet the needs of our members.”

 

The cooperative’s general manager, Mike Sims, commented on the Construction Work Plan in place. “This work plan will allow us to continue our diligent effort to provide you with safe, reliable and competitively priced electric service.” Energy efficiency is a priority with the cooperative, and past and current board members, along with management, have joined forces with Buckeye Power to find ways to effectively control loads and offer energy efficiency programs for the benefit of our members. “We know the concerns are there for holding costs down, and we will continue to help our members control their individual energy costs.” Mike provided information about energy rates and informed the annual meeting crowd that the cooperative is not changing rates this year on the Distribution Monthly Charge and the Distribution Energy Charge. He also reminded members that their power costs (cost of power from our generation source, Buckeye Power) comprises 50% of the total cost of electric service. “It is worth noting that future forecasted power cost does not take into account the effects of any legislative, regulatory or environmental changes. In other words, if a Cap and Trade or Climate Control mandate is imposed on the electric cooperatives, these costs would be greater than forecasted.”

 

Tony Ahern, president and CEO of Buckeye Power and Ohio rural Electric Cooperatives, said that “Today, the business of supplying electricity has more uncertainty than anytime I can recall in my career. For the industry as a whole, it is nearly impossible to plan for the future electricity needs of consumer.” But this is not true of Buckeye Power as a power supplier to the Ohio rural electric cooperatives. “We have been planning and acting to meet your future electricity needs. We now have enough electricity supply to meet your needs beyond 2020, and although our costs for providing electricity have increased, Buckeye Power’s price is the lowest in Ohio.” In order to provide reliable electricity, a blend of base load, intermediate and peaking plants, along with a robust transmission system is required. “We have an electric grid with growing congestion and risks. In short, the electrical grid is in grid-lock.”

 

 

The cooperative welcomed Glenn English, the CEO of the National Rural Electric Cooperatives Association (NRECA), to the cooperative’s annual meeting. Glenn focused his address around the issue of current threates to electric affordability and how cooperative members can mobilize to maintain that affordability. He referred to a speech he gave in April in Warm Springs, Georgia, where the President died 65 years ago and where he had the idea of the Rural Electrification Administration, signed into law 75 years ago in May. “FDR came the understand something had to be done to close the gap between the quality of life for those in rural areas compared to those living in cities. The key was to make sure people could afford the electric power that makes those improvements possible. The focus of bringing reliable and affordable electricity to the rural areas hasn’t changed in 75 years.” Glenn urged cooperative members to get involved with the Our Energy, Our Future campaign by sending cards to their congressional representatives expressing their concern for affordable electricity.