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commentar y Future Looks Bright For KEC BOARD OF TRUSTEES


Larry Culwell, President DISTRICT 7


David Ray, Vice President DISTRICT 4


Don Parr, Secretary-Treasurer DISTRICT 5


MEMBERS Russell Shaw


Richard Medlock Ron Pelanconi Mark Ichord


Brett Orme Executive Vice President-CEO


Kiamichi Electric Cooperative (KEC) is committed to providing reliable and affordable electric service to members in Latimer, LeFlore, Pittsburg, Pushmataha and Atoka counties.


The people and businesses that purchase electricity from Kiamichi Electric are considered member-owners of the co-op. Each member—regardless of how much electricity they purchase – has an equal say in how the cooperative is operated.


To exercise their right, Kiamichi Electric members are encouraged to attend co- op meetings and vote in co-op elections.


Kiamichi Electric service territory is divided into seven districts. Members within each district meet every two years to choose a fellow member to represent their interests on the Kiamichi Electric board of trustees. KEC board members set policy and oversee cooperative business.


Through local leadership and control, Kiamichi Electric Cooperative members can rest assured their electric co-op remains focused on the needs of its members and its rural communities.


2 | september - october 2016 | Light Post


DISTRICT 1 DISTRICT 2 DISTRICT 3 DISTRICT 6


news: Kiamichi Electric (KEC) is entering the renewable energy business. In partnership with our power supplier, Western Farmers Electric Cooperative (WFEC), our plan is to erect a community solar garden directly behind KEC's new office building. The solar array will consist of 950 panels capable of producing roughly 418,000 kilowatt-hours per year.


I


f you attended the Kiamichi Electric Annual Meeting recently you've heard the


By Brett Orme CHIEF EXECUTIVE OFFICER


Your co-op is in good financial shape. We ended the year with $4.4 million in margins, which is what is left over after KEC bills are paid. Because KEC is a cooperative, margins are returned to you, our member-owners, in the form of capital credits. These margins are retired in a manner that allows KEC to hold a portion to use as emergency funds, if needed.


By taking this important step, KEC and WFEC hope to accomplish an important goal. Adding solar power diversifies the energy sources used to generate electricity. If power plant regulations underlined in the federal Clean Power Plan become a reality, coal will be effectively eliminated as a generating fuel. This leaves co- ops more dependent on natural gas to generate electricity. Natural gas prices are currently low, but they can go up with little warning. KEC has no control over fuel prices, but their cost has great impact on what we pay for wholesale power. The additional solar power will provide KEC with a clean, renewable source of power that will help us control, in some measure, the rising cost of generating electricity.


Solar power is an exciting development for your co-op, but it's not the only good news we have to share. On page 4 and 5 of this issue, you will find KEC's financial statements for 2015.


operation roundup Monthly Financial Report


YEAR TO DATE COLLECTIONS: YEAR TO DATE DISBURSEMENTS: TOTAL COLLECTED SINCE INCEPTION:


$ 56,293.82 $ 75,988.48 $ 1,339,159.45


TOTAL DISBURSEMENTS SINCE INCEPTION: $1,264,742.80


Operation Roundup is a voluntary bill roundup program that benefits southeast Oklahoma communities, organizations and needy families. Applications for funds are available at Kiamichi Electric, local social services , or online at www.kiamichielectric.org.


This year, your KEC trustees approved a 100 percent refund of 1993 margins. The $950,000 refund will be distributed to all KEC's 1993 members based on their kilowatt-hour usage during that year. Members will receive a bill credit or refund check in the mail.


Looking ahead to 2017, members should expect no substantial change in KEC rates. We could see a slight change in our rate structure due in part to how KEC is billed by our power supplier, but the average member should experience little or no change in the total cost of electricity.


On page 7 of this issue, you'll see that KEC is celebrating National Co-op Month in October. I hope you'll join us as we honor the co-op role in building better communities. Programs such as KEC's Operation Roundup are making a difference here at home. This would not be possible without the support and participation of our members. Thank you, you are appreciated.


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