We had a great 80th annual meeting and would like to thank all of those who voted for their board members along with attending. It is always a good chance to hear from our members and talk about the state of the cooperative. We were able to hear from our Board Chairman Russ Sapp, our CEO/President Roman Gillen, keynote speaker Roger Gray and our Youth Tour participant Kate Underwood. Be sure to check out some of the photos from this year’s annual meeting! For a copy of CPI President’s speech please click here.
Over the past few months the Consumers Power staff and board of directors have analyzed projected revenues, costs of service, and current power rates to ensure that the Cooperative’s short and long term financial goals and lender requirements are met.
Beginning with billing statements generated on or after July 1, 2019, members will see an 8 percent rate adjustment. The average residential member will see an $8 increase in their monthly bill.
Through the last decade, CPI’s rates have increased at less than 2 percent a year—essentially following inflation—despite a variety of steadily rising business costs, including the following:
The Bonneville Power Administration is proposing a modest transmission rate increase for fiscal year 2020, which will take effect in October.
Wood, copper, steel and aluminum, used in transformers, regulators, poles and wire, have increased significantly due to tariffs and shortages from increased nationwide demand as a result of wildfire and storm damage to utility infrastructure. Labor costs are rising as well.
The cost of borrowing is beginning to increase. During the last decade, CPI has worked diligently, and with great success, to refinance much of our debt at record-low levels. Interest rates are now on the rise making it more expensive to borrow new capital.
Since the 2008 recession, we have experienced flat or declining energy sales, which has put pressure on margins. At the same time, we are replacing aging utility infrastructure (poles, underground cable, transformers, etc.) at an increasing rate to maintain reliability to our members.
CPI is increasing the retirement of legacy Capital Credits to maintain a reasonable rotation of this capital.
Average Residential Cost Comparison
Achieving the Cooperative’s short and long term financial goals, including refunds of past patronage, generating new equity, and maintaining reasonable cash reserves with affordable rate structures continues to be a focus of the board of directors. The board, and all CPI employees, are committed to operating efficiently to provide you with safe, reliable, and affordable electric service.
We also offer energy efficiency programs to help you reduce your energy use, which can help decrease your monthly electric bill, and increase the comfort and convenience in your residence or business. If you are interested in more information about our energy efficiency programs contact us at 800-872-9036.
Consumers Power is attempting to locate former members of the cooperative whose capital credit checks issued in 2014 and 2015 remain unclaimed. These checks are for members who received electric service from CPI in 1988.
The capital credit checks of these former members have been returned by the U.S. Post Office as “undeliverable” or have otherwise been unclaimed.
The last possible date to claim these funds is Thursday, December 2, 2019, at 5 p.m. If these checks are not claimed by this date, the funds will be forfeited and can no longer be issued.
You can search the list of accounts either by name or by address at these links.
To claim a refund or submit questions about this notice or the lists, please contact Susan Faust at (541) 929-3124, or send an email to firstname.lastname@example.org.
The Oregon Electric Cooperative Association represents the 18 electric cooperatives serving rural areas in Oregon. Electric cooperatives are consumer-owned, not-for-profit utilities governed by member elected boards of directors. Cooperatives serve over 10 percent of Oregon’s electricity consumers, are located in 32 counties and maintain 26,000 miles of line traversing Oregon’s most rugged terrain.
For nearly 8 decades, Oregon’s rural electric cooperatives have delivered clean, renewable, reliable and affordable electricity to their members. It is a record of which they are extremely proud. Yet, each legislative session, Oregon cooperatives are subjected to mandates or other proposals that make it even more challenging to deliver the electricity you need in your daily lives – when you need it and at a price you can afford.
We are not powerless. It’s amazing how an organized group of citizens can impact the political process simply by banding together in a collective voice. Please join thousands of other Oregonian electric cooperative members who are already part of this vital program. By joining, you’ll maximize your voice and become part of a growing team of electric cooperative advocates in the state of Oregon. Together, we can make a difference.
Click the Get Involved logo below or at the top of the page to sign up.
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Posted: October 17, 2019
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