SIEC Board Meeting Summary April 2013 2012 -- Year of FIRSTS & SECONDS in SIEC history What does it cost to construct NEW power lines? Monthly FIXED Charge allows DECOUPLING from VARIABLE Energy Revenue!!
INTEGRITY & ACCOUNTABILITY SIEC Motto: "YOU HAVE A VOICE WITH US" PLEASE CONTACT A NOMINATING COMMITTEE MEMBER
It is that time of year to contact a Nominating Committee member with the name of your proposed SIEC Board candidate to be voted upon at the 2013 SIEC Annual Meeting on September 5th. Voting for SIEC Directors is encouraged by mail or in person at the SIEC Annual Meeting. The Nominating Committee will accept names of proposed SIEC Board candidates by contacting them directly as shown below. Pease consider either running for the Board yourself or submitting other SIEC Board candidate names to the Nominating Committee members no later than mid-May because the Nominating Committee must complete its work by mid-June or before.
2013 Nominating Committee
Duane Bales * 641-459-3421 Lyle Ball * 641-640-0442 Leonard Besick * 641-936-4452 Tom Fitzsimmons * 641-919-5478 Greg Gordy firstname.lastname@example.org Rex Harris * 641-895-3084 or email@example.com Harold Hulme * 641-895-6101 Janet Lay * 641-777-3866 Curtis Short * 641-777-1358 Sandy Skinner * 641-682-0948 Charles Warner * 319-592-3111
SIEC Board Meeting Summary April 2013
- Reviewed answers to prior month Board member questions;
Financial Management including FDIC Insurance limits, mitigating long term debt interest, managing short term debt vs. cash on hand to maximize interest earnings, and Right of Way clearing cycle vs. historic trend in tree related outages.
- Confirmation of April 8th e-mail/phone vote to appoint Nominating Committee - Approve Cost of Service (COS) Study consultant - Approve 2013-2014 Resolution for Voting Delegates & Alternate Delegates - Reviewed SIEC Purpose -- Compass for the 21st Century: Chairman's Letter - Discussed food vendor options for 74th SIEC Annual mtg Thurs. Sept. 5th @ 6:30 pm - Discussed the future options for handling used poles - Reviewed Northeast Power Annual & Reorganization meetings - Reviewed options being discussed with neighboring co-ops for shared services
SIEC Motto: "YOU HAVE A VOICE WITH US" Any suggestions please contact Mark Aeilts, CEO: (firstname.lastname@example.org)
INNOVATIVE COMMITMENT TO OUR COMMUNITY
2012 -- Year of FIRSTS & SECONDS in SIEC history
-- Largest Patronage Refund Paid to our SIEC members of $448,029 -- SIEC/Co-Bank $10,000 Grant for Moulton EMS/Fire Dept new "Jaws of Life" -- SIEC donated labor and material to Lake Lacey Keosauqua State Park -- First FEMA Hazard Mitigation Grants approved for 43.5 miles of line -- First in our history Geo-Thermal Workshop for vendors & their customers -- First in our history Christmas Co-op Connections Expo!!! -- First & Second in our history cover photos for Living with Energy in Iowa -- Lowest historical write off of uncollectible accounts -- Lowest historical physical inventory count adjustment
What does it cost to construct NEW power lines?
Summary of a few of the Six Year Work Plan Costs: (Please contact our office if you want more info on the even more expensive cost of generation & transmission lines)
18 miles of Singal Phase Overhead $58,000/mile
21 miles of Three Phase Overhead $88,000/mile
13 miles of Three Phase (heavier conductor) $115,000/mile
Monthly FIXED Charge allows DECOUPLING from VARIABLE Energy Revenue!!
Every electric company has two kinds of costs: fixed and variable. Fixed costs include personnel, equipment and distribution lines that must be paid despite weather conditions or energy sales. Variable costs are fluctuating costs such as the price paid for electricity and the amount of electricity used by the member. Revenue decoupling is just a way of separating the revenue, the fixed cost of distribution from the ups and downs of electricity consumed.
Revenue decoupling enables full support of energy efficiency as required by the Iowa Utilities Board (IUB) and its resulting environmental benefits without having to sacrifice financial stability. Utility rate structures are based upon averages. The advantage to YOUR Co-op is less undercharging in moderate weather. The advantage to YOU is less high bill complaints in extreme weather.
Revenue decoupling only addresses the delivery portion, about 25%, of YOUR total bill. It is important to remember that the cost of the electricity, the actual energy consumption, makes up the majority of YOUR bill – typically about 75%. As YOU choose YOUR consumption it is reflected in the supply portion of YOUR bill.