Rising Revenue, Net Margins–And Storm Expenses (Treasurer’s Report)

Coop CurrentsCoop News

Treasurer’s Report By Don Douglas In 2023 Washington Electric recognized a large increase in revenue in retail sales. In 2022 it was $17,384,203 and in 2023 the figure increased to $20,246,823. This represents an increase of $2,862,620. This large increase is due to the rate increase of 12.83% and because our regulators asked us to shift the net generation credits …

Incumbents re-elected, storm resilience focus of Annual Meeting

Coop CurrentsCoop News

Storms and an equitable energy future discussed at first in-person Annual Meeting since 2019 The Annual Meeting took place in WEC’s Operations Center, where a few dozen transformers were ready for deployment. Most were ordered in 2020, and only just delivered after three years tied up in the supply chain. Members, staff, and guests mingled and enjoyed farm-to-table dining from …

President’s & GM’s Message: WEC Accesses Contracted Hydro-Québec Power

Coop CurrentsCoop News

Longstanding contract provides 2 MW of baseload power as Co-op members’ winter needs and WEC’s electric peaks rise. Also: member education around EV charging, adding load, and safety Background to Hydro-Québec Contract Steve: In 2012, WEC negotiated a new 25-year contract with Hydro-Québec [HQ], and the Board at that time approved it. At the time, WEC did not have a …

Treasurer’s Report: Coventry production decrease, rising power costs drove 2022’s rate increase

Coop CurrentsCoop News

FEMA assistance likely to help pay for Winter Storm Elliott costs By Don Douglas Washington Electric Cooperative works hard to provide the excellent service our members need and deserve. The COVID pandemic has been difficult on many levels for all of us. As we begin to transition into a post-pandemic world, the effects of it are still with us as we …

An appreciation to WEC lineworkers

Coop CurrentsCoop News

By Don Douglas We experienced the first widespread outage on Friday, December 16, 2022 with most everyone back on by Saturday, December 17. The next storm wasn’t so easy. It started in the early morning hours on Friday, December 23. That’s when Board President Steve Knowlton lost power, along with many members in East Montpelier.  Despite all the things that …

Three incumbents run for re-election to Board of Directors

Coop CurrentsCoop News

Every year, WEC’s membership elects three fellow members to serve on the Co-op’s nine-seat Board of Directors. The members who serve in these critical roles oversee management and staff and make policy and leadership decisions for the member-owned electric utility. Three incumbent Directors are running for re-election in 2023: Don Douglas of Orange, Treasurer; Jean Hamilton of Plainfield; and Mary …

Equity and unintended consequences

Coop CurrentsCoop News

It’s the poor feeding the rich. Mack Gardner-Morse Today, WEC Treasurer Don Douglas said, net metering is “shifting the cost of running the Co-op from everybody to just the people who don’t have solar or some other form of net metering.” It’s a fundamental issue of fairness raised by regulators, WEC leaders, members, and others. When the PUC requested comments …

“It’s counterproductive:” Displacing green energy and causing rate pressure

Coop CurrentsCoop News

As rates rise, members lose incentive to switch from fossil fuels to electric As a cooperative electric utility with an environmental mission, WEC exists in a mixed landscape of not-for-profits, for-profits, and state goals and mandates, all working to change Vermonters’ behavior. While all are aiming to reduce emissions and fossil fuel use, “we’re running at cross purposes in getting …

Who pays the cost of poles and wires

Coop CurrentsCoop News

All members require infrastructure, but cost to maintain it is shifted to ratepayers WEC’s infrastructure costs have risen in recent years. The Co-op has prioritized improving reliability in the face of climate change-related storms and tree damage: that means replacing old poles, installing new poles to shorten long spans of wire, removing “danger trees” that could fall on the lines, …

Treasurer’s Report: Planning pays off

Coop CurrentsCoop News

WEC budgeted accurately for 2021, despite higher purchased power bills due to decreased production at Coventry By Don Douglas Washington Electric Cooperative is committed to providing the excellent service our members expect and deserve. The catastrophic pandemic is still with us as we attempt to learn to live with the virus that has caused so many disruptions to our lives. …