LVE Announces Plan to Consolidate with Idaho Cooperative
Lower Valley Energy Announces Plan to Consolidate
AFTON, WY (January 20, 2016) — The Board of Directors of Lower Valley Energy, in conjunction with the Board of Directors of Fall River Electric Cooperative in Ashton, Idaho, jointly announce their intention to investigate joining the two cooperatives together into one. The next step in the process is for the two boards to agree to the terms of such a consolidation. If that step is successfully completed, each cooperative would take the consolidation plan to its respective members for a vote of approval.
The idea of working together for the mutual benefit of both cooperatives has been considered for several decades, but changing national energy policies and regional policies planned by the Bonneville Power Administration (BPA) make the idea of consolidation more practical than ever. In considering this proposal, two consolidation studies were conducted which concluded that a consolidated operation could save members nearly $4M dollars annually, or an estimated $38M over a ten-year period. Additionally, a consolidated cooperative would mean greater financial strength to be proactive in a changing electrical industry, an opportunity to expand natural gas and propane services to more members, and to create greater workforce efficiencies.
In agreeing to move forward, both boards stated that the potential consolidation would not result in employee layoffs or reductions in pay for the existing staffs. Much more work is needed on the consolidation plan before it is presented to the owner-members of each cooperative for a vote later this year. If approved by members, implementation of the entire consolidation plan could take two to three years.
About Fall River Electric
Fall River is a customer-owned, nonprofit electric utility providing over 16,000 connections in portions of three states including eastern Idaho, western Wyoming and southwest Montana. Fall River is committed to safely and economically providing reliable energy and other services which bring value to its membership. For more information visit, www.fallriverelectric.com.