Co-op Pays Out Over $1M to Customers

Before the 2019 Christmas holiday, Fall River Electric Cooperative mailed checks to nearly 6,500 of its owner-members (customers) totaling $1,013,000 under its patronage capital program. Because Fall River Electric operates as a nonprofit cooperative, it is in fact owned by the customers it serves which the co-op refers to as owner-members. When revenues collected by the co-op exceed operating costs, those extra revenues become patronage capital, which is then disbursed to its owner-members on an approximate twenty-year cycle. The retirement cycle helps the Cooperative achieve its ideal equity level which allows the Co-op to obtain lower interest loans used for large capital projects.

 Unlike investor-owned utilities that pay profits to stockholders, Fall River Electric’s patronage capital is a customer’s investment in the Cooperative and is used in building new or maintaining existing infrastructure, including generation facilities, poles, wire, transformers, and substations. The amount of cash back that a member receives is based on how much electricity they purchased during the years being retired. This year, members are receiving patronage capital earned in 1998 and a portion of 1999.

 According to Fall River Electric’s CEO/General Manager Bryan Case, “Cash back payments made to our customers are a unique and tremendous benefit to being a member of our Cooperative. It is made possible with the approval of our elected Board of Directors. They analyze the financial health of our Cooperative and only pay out patronage capital when it is in the best interest of our entire membership.” Case added, “Fortunately our staff and management continue to do an outstanding job of managing our financial and physical resources, so our equity has dramatically improved in recent years, which is a significant contributing factor to the board’s ability to retire patronage capital to our owner-members.”

 To learn more about Fall River Electric’s patronage capital program, click the QUICK LINK titled Patronage Capital on our homepage.

 

No Rate Increase for 2020

Effective October 1, 2019, the Bonneville Power Administration (BPA) implemented rate increases for both wholesale power and transmission costs to 143 Northwest electric utility companies including Fall River Electric Cooperative. BPA is the primary source for Fall River’s wholesale power. After careful consideration, the 9-member elected board of Fall River Electric determined that the CooperativeContinue Reading

New Board Members Elected & Bylaw Changes Approved

Fall River Electric’s annual meeting of members was conducted on a beautiful Saturday, June 15th at North Fremont High School in Ashton, ID where nearly one thousand owner-members joined the Cooperative for breakfast.  Owner-members cast their votes via online, mail-in and in-person to select representatives for three board positions from a total of ten candidates. AContinue Reading

School Solar & Wind Projects Funded

Fall River Electric owner-members in conjunction with the Bonneville Environmental Foundation, a nonprofit organization funded by generous contributions from philanthropic organizations, Helping Hands, a local nonprofit and Fall River Electric; the fundraising necessary to construct small scale distributed generation solar panels and wind turbines at three of our local high schools was achieved. Construction bidsContinue Reading

Jeff Keay Selected to Board

Fall River Electric’s Board of Directors has selected Jeff Keay of Island Park to fill the remaining 2 years of board member Ralph Burton’s term, which expires in June of 2020. Burton moved from the area which, according to the Co-op’s by-laws, forces a vacancy which the board is required to fill via appointment. AContinue Reading

Coop Offers First-Ever Rebate

All owner-members (customers) of Fall River Electric who received power in 2017 have been issued a first-ever rebate! As a nonprofit cooperative, Fall River manages the amount of revenue they need to operate the Cooperative very closely. Fall River Electric had a great financial year in 2017 and the Coop’s elected Board of Directors decided to rebate aContinue Reading

Fall River Electric Pays Out Over $1M to Customers

Fall River Electric Cooperative has mailed checks to over 6,000 of its owner-members (customers) totaling $1,023,143 under its patronage capital program. Because Fall River Electric operates as a nonprofit cooperative, it is in fact owned by the customers it serves which the co-op refers to as owner-members. When revenues collected by the co-op exceed operatingContinue Reading

No Rate Increase for 2018

Fall River Rural Electric Cooperative’s primary power supplier, the Bonneville Power Administration (BPA), announced earlier this year their intention to increase both wholesale power rates and transmission rates. Following several months of review, BPA issued their Final Record of Decision that it would be raising rates by 6.1 percent effective October 1, 2017. BPA saidContinue Reading

Hanson, Behrens & Burton Elected to Board of Directors

Fall River Electric’s annual meeting of members was conducted Saturday, June 24th at North Fremont High School in Ashton, ID and over one thousand members joined the Cooperative staff for breakfast and a record breaking number of members, nearly 2,000, cast ballots for board candidates. Jay Hanson and Ralph Burton were re-elected to their board positions from theContinue Reading

Consolidation With Lower Valley Placed On Hold

On Monday, October 17th, Fall River Electric’s Board of Directors met to continue discussions regarding a possible consolidation with Lower Valley Energy based in Wyoming. As has been previously reported, Fall River and Lower Valley Energy commissioned two consolidation studies, one done by CFC and another prepared by EES. Lower Valley authorized E3 to conductContinue Reading