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Page 2 C A N A D I A N P.O. Box 751 Seminole, Okla.


Serving Hughes, Lincoln, McIntosh, Okfuskee, Pottawatomie, Seminole and portions of Oklahoma, Cleveland and Creek counties


Main Office and Headquarters Interstate 40 at the Prague/Seminole Exit


Area Office


35 W. JC Watts Street, Eufaula Office Hours


8 a.m. to 5 p.m., Monday - Friday Board of Trustees


President - Yates Adcock, Dustin .................... Vice President - Joe Semtner, Konawa ........... Sec.-Treas. - Robert Schoenecke, Meeker ..... Asst. Sec/Treas. - Steve Marak, Meeker ......... Gary Crain, Prague........................................... Clayton Eads, Shawnee .................................. Matt Goodson, Tecumseh ................................ J.P. Duvall, Seminole ....................................... George E. Hand .............................................. J. Roger Henson .............................................


Telephone Numbers


Seminole Shawnee, Tecumseh Earlsboro Eufaula Toll-free


In Case of Trouble


1. Check for blown fuse or tripped circuit breakers. 2. Check with your neighbors. Ask if their electricity is off and if they have reported it.


3. If not call the office and report the trouble. Read


Billing date


Cycle 1 Cycle 2 Cycle 3


26th-31st 6th-11th 16th-21st


5th 15th 25th


1-1/2% penalty is applied 20 days after billing


Operating Statistics for May 2013


Operating Revenues Wholesale Cost of Power Percentage WPC is of Revenue Revenue per Mile of Line Consumers per Mile of Line KW Peak Demand - This month Billing kW demand KW Peak Demand - YTD KWh Purchased - This month Taxes Paid


Interest on Long Term Debt System Load Factor


$4,720,761 $3,429,401 72.65


$909.06 4.60


123,040 109,236 146,172 57,478,670 $92,444 $188,281 62.8


2014


$5,623,170 $4,158,516 73.95


$1,079.93 4.63


133,102 109,675 184,404 60,636,870 $106,737 $189,986 61.2


New Services Staked in June During the month of June 32 new services were staked. The total new services staked in 2014 is 204. This compares to 195 for the same period in 2013.


FINANCIAL STATEMENT


BEGINNING BALANCE 5/31/14....... Deposits.......................................................... Interest Income ................................................ Checks Issued ............................................ Approved, not yet paid ........................... BALANCE 6/30/14..............................


$202,885.71 8,177.77 43.81


-11,370.83 -13,228.20


$186,508.26


CVEC Foundation administers and disburses funds collected through CVEC's Operation Round-Up Program.


(405) 382-3680 (405) 273-4680 (918) 689-3232 (877) 382-3680


District 8 District 6 District 2 District 1 District 3 District 4 District 5 District 7 Manager Attorney


By George


Canadian Valley Electric Cooperative last changed its electric retail rates in February 2009. At that time, the rates were based on expense levels from 2007 and 2008. Current rates have now been in place for more than five years and are not projected to provide enough revenue to allow the cooperative to meet its financial obligations going forward. The board of trustees has asked for, and received, an inde- pendent review of the rates and charges of the cooperative. This independent study was performed by C.H. Guernsey Engineering firm. This Oklahoma firm is nationally rec- ognized for its work in electric utility engineering and rate making.


The board’s direction to the consulting firm was to review all of the co-op’s rates for adequacy and fairness, to assure all members are being treated equitably. This review, study and recommendation by Guernsey Engineering has been completed and presented to the board. The study recommends changes in the co-op’s retail rates. Management has concurred these changes are necessary as recommended. After accepting the study report and its findings, the board has directed management to begin the process of implementing the rates changes. The board concluded that in order to maintain the financial integrity of the cooperative and to meet the financial performance requirements stated by our lenders in our mortgage agreement, a rate increase needs to be implemented. The proposed new electric rates are expected to be made effective December 1, 2014 and will result in an annual increase in revenues of 2.89% to the cooperative overall. Your board is dedicated to providing reliable and effi-


Continued on page 3. V A L L E ELECTRALITE


The ElectraLite


August 2014


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