This summer, the line crews were busy with line construction projects and installing services for new business and residential members. We continued to help our local communities with our Operation Round Up program, sponsor events, replace light poles at Kewanna’s baseball diamond, rewire the Fulton County Fairgrounds, and purchase livestock at the Pulaski and Fulton 4-H fair auctions.
In early August, the board and staff held a retreat to discuss and learn about community solar and broadband. We will send surveys in the coming months to gather information regarding both topics from you, our members. Please take the time to complete each survey so that the board and staff can make informed decisions on what is best for you.
We are scheduled to implement phase 3 of our rate increase announced in the May 2016 issue of Electric Consumer. This will go into effect on your October bill for September use. Residential members will see an increase of 1.7 percent, and the overall increase will be 1.9 percent. This increase is part of a four-phase plan developed by our rate consultants, Utility Financial Solutions (UFS), and approved by the board to achieve proactive goals set for the cooperative. These goals include:
- Build cash reserves that would represent one month’s power bill and 45 to 60 days of operating expenses ($1 million to $1.2 million).
- Reduce the need for borrowing funds on completed line improvements.
- Establish a capital credit retirement cycle of 30 to 35 years, while paying a portion to the current membership. The cycle is currently at 50 years.
- Continue to support and be involved in the local communities we serve.
The board of directors and staff of Fulton County REMC work together to bring you a reliable and valuable commodity at a reasonable price. We take great pride in being an integral part of the communities we serve and helping those communities to improve the quality of life – a cooperative core value since 1936.