79th Annual Meeting Recap
Thursday, July 20th, 2017
Steeleville American Legion
Egyptian Electric Cooperative conducted their 79th Annual Meeting of the Members on the evening of Thursday July 20, 2017 at the Steeleville American Legion. It was again a hot day for an annual meeting, but the evening couldn’t have went any better! Approximately 708 guests, including the 416 registered members, were served a hot dog dinner, chips and dilly bars! Bucket truck rides were again given by the linemen of Egyptian Electric and Cassie Andrews and the Calico Creek Bluegrass Band performed in the main hall.
During the business meeting, members re-elected Steve Prest of Coulterville, Larry Ebers of Steeleville, and Gil Kroening of Carbondale, to new three-year terms on the board of directors. Paul Hicks, Egyptian Electric Cooperative (EECA) Board Secretary-Treasurer, reported that 2016 wholesale power costs from Southern Illinois Power Cooperative (SIPC), EECA’s generation and transmission cooperative, amounted to more than 28 million dollars, or about 70 percent of operating expenses. Assets and liabilities totaled about 77 million and revenue from electric sales totaled approximately 39 million dollars. In addition, other operating expenses totaled about 11 million. He also stated that there were no margins to be allocated as capital credits for 2016.
EECA Board President Ken Jarrett brought members up-to-date on the status of coming changes. He also reminded members that the co-op is operated according to the co-op core values of integrity, accountability, innovation, and commitment to community. “Because we are a cooperative, our focus is not on generating a profit,” he explained. “We strive to provide you with the service you desire and deserve.”
Retiring General Manager Jim Riddle reported on Egyptian Electric rates and how they are affected by SIPC. He explained that a cost of service study is being conducted, and that he does anticipate a rate increase this year due to materials, labor, general overhead, and wholesale power costs. He additionally added that in 2016, EECA had the third overall lowest rates of Illinois electric co-ops. Regarding the new office, he told members EECA will continue to maintain two serviceman positions in the current Steeleville service area, and after-hours outage and responses will continue out of that operations center. He also reminded members of the multiple payment options they have including new payment kiosks. See our Annual Meeting Scholarship page for the 2017 winners and results!
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