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C A N A D I A N February 2014


V SUPPLEMENT TO OKLAHOMA LIVING


Consolidation Discussion, Studies Continue into New Year


CVEC and Central Rural Electric Co- operative continue to study the prospect of consolidating into one cooperative. The two co-ops, along with National Rural Utilities Cooperative Finance Corporation (CFC) are continuing with a comprehensive study analyzing the com- patibility of the two organizations. This follows an announcement to


By George At our Annual Meeting held last


September, we reported on two issues. These issues were: 1. Cooperative elec- tric rates, and 2. A Consolidation Study with Central Rural Electric Cooperative, our neighboring electric cooperative to the north.


Cooperative Electric Rates: At the meeting we reported the co-op's electric rates had not been changed since


members of both co-ops in September 2013 that the two were entering into discussions to review possible operations efficiencies gained by working together in finding solutions for current and future energy challenges. "A preliminary review indicated probable economic benefit and increased long-term membership value from the


the beginning of 2009. We reported that as of the September meeting, no action had been taken to change or increase rates, but some change might be neces- sary during 2014. Our current electric rates are based on the cost of providing electric service, including maintenance and replacement, as those costs existed in 2007 & 2008. As of the middle of January 2014, CVEC's Board of Trustees and management have taken no action to change or increase these rates that have now been in effect for five years. Growth in number of consumers and electric


opportunities for economies of scale, increased financial strength, rate stability, elimination of duplicate services and ad- ditional operating efficiencies," explains CVEC General Manager George Hand. An extensive review is expected to take up to one year to complete and will be conducted with diligence and the best interests of the members in mind. This collaboration, and how the two coopera- tives are working to Build Our Energy Future Together, will be discussed at future meetings, and information can also be found on the website, www.buildin- gourenergyfuturetogether.com. "Please know the boards of trustees of CVEC and CREC have not made any decisions, other than to explore the po- tential opportunities," says Hand. You can join us in Building Our


Energy Future Together by sharing in the open dialogue about the purpose and value of this collaboration. We will continue to update you on the progress of this journey, but feel free to visit www. buildingourenergyfuturetogether.com, to find out more information and to ask questions about this collaboration.


energy sales have allowed the existing rates to last longer without change than they have historically. Utility expenses have increased in those five years and it is likely some change in electric rates will be required during 2014. When a decision to start such a process to change our electric rates is made, we will let you know. I believe any rate increase to total revenue will be less than 3%. I would expect the average monthly bill could increase between $5.00 and $6.00 in any


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