Annual Meeting Come to Swan Valley (May 23, 2005)
Lower Valley Energy
held its 2005 annual meeting on Thursday, May 12 at the Swan Valley
School in Irwin, Idaho. Board Chairman Dr. James R. Little conducted the
meeting. In his address to the audience of about 54 people, Board
Chairman, Dr. James R. Little welcomed the audience and presented a
check for $1,000 to the Swan Valley School to help move and improve
their playground equipment.
Fred Brog, Lower
Valley Board Secretary/Treasurer gave an overview and summary of the
financial condition and operating results of Lower Valley Energy. Of
particular interest was his report that Lower Valley Energy returned
$1.9 million in patronage capital and expended $3 million in system
improvements and maintenance last year. He also reported that gas and
electric revenues continue to increase and growth remains consistent
with total accounts now exceeding 26,500. Lower Valley Energy has not
raised electric rates since a modest wholesale power rate increase was
passed on to members in 1993. Lower Valley Energy’s wholesale power
contract with Bonneville Power Administration expires in 2011 and
provides for a rate adjustment in October of 2006.
Membership voting for Lower Valley Director positions resulted in the
re-election of incumbents Rod Jensen to District 1 and Peter Cook to
District 6. Both positions were uncontested. Incumbent Linda Willard
Schmidt and Bill Wotkyns both filed for the District 7 board position.
With 18% of Lower Valley's membership returning proxy ballots, Rod
Jensen received 2,480 votes and Peter Cook received 2,504 votes. Linda
Willard Schmidt received 1,920 votes and Bill Wotkyns 735 votes.
Lower Valley Energy President/CEO, James R. Webb, discussed Lower
Valley’s future power supply opportunities and challenges. Mr. Webb
concluded by expressing appreciation for Lower Valley's membership
support and by committing Lower Valley Energy to competitive pricing,
reliable service and working to meet members' changing needs in the
years ahead.
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