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 operating costs, those extra revenues become patronage capital, which is then disbursed to its owner-members on an approximate twenty-year cycle. A 20-year retirement rotation helps the Cooperative achieve its ideal equity level which allows the co-op to obtain lower interest loans used for large capital projects.

Unlike for-profit 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. Your allocated patronage capital also helps to keep rates low. The amount of patronage capital a member receives is based on how much electricity they use during the years being retired or paid out. This year, members are receiving patronage capital earned in 1996 and a portion of 1997.

According to Fall River Electric’s CEO/General Manager Bryan Case, “Payments made to our customers are a unique and tremendous benefit to being a member of a 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 over the past several 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, visit www.fallriverelectric.com/patronage-capital.

Hanson Reelected to CFC Board

Fall River Electric board member Jay Hanson was reelected to the 23 member board of directors of the National Rural Utilities Cooperative Finance Corporation, also known as CFC. Created and owned by America’s electric cooperatives, CFC is a nonprofit finance cooperative that provides financial resources to its owner-members. Money borrowed by Fall River from CFCContinue 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

Lineman College $2400 Scholarship Announced

Fall River Electric Cooperative’s Board of Directors has authorized a new scholarship intended to encourage a member or child of a member to become a utility lineman. This $2,400 scholarship is available to any lineman college chosen. Application for the 2017 lineman scholarship is now available. More information and an application form is available on this website byContinue Reading

Power Outage Info to be Shared on Facebook

The rise in popularity of social media is changing the way companies like Fall River Electric communicate with members during power outages. Now when a large-scale power outage occurs, Fall River Electric will communicate information about the outage via our Facebook page at www.facebook.com/FallRiverREC. Outage information will be posted to Facebook when the outage durationContinue Reading

EasyPay Now Available

Now you can pay for your energy use as-you-go, with the newest option from Fall River Electric Cooperative called EasyPay! Once you sign up for this new service (click here to apply EasyPay Agreement), each day Fall River Electric will deduct from your account balance the exact cost of the electrical energy you used yesterday,Continue Reading