Historic Winter Storm
Posted on March 30th, 2021
From Your Board Chairman
As meteorologists were prepping the public for the historic winter event that took place in February, we were preparing for the potential strain it could place on our system. Behind the scenes, First Electric was planning to interrupt circuits in 30-minute rolling service interruptions – if required by our generation and transmission facility – Arkansas Electric Cooperative Corporation (AECC). Because of your cooperation and heed to our warnings, we were able to divert a catastrophe like many other parts of the country suffered.
As a First Electric member, you have local representatives on the board of directors that enjoy or suffer through the same conditions. It makes us mindful of the impact – because we all feel it. However, as you saw on the national news, other states , like Texas, weren’t that fortunate. They have board members from around the country and globe that are disconnected from what their customers were feeling.
On your bill, you will notice an Energy Cost Adjustment (ECA) charge. It typically does not get much attention; however, with the historic cold weather, it was severely impacted. Annually, we budget $13 million to cover the ECA, but for February alone that number was over $14 million. This cost is strictly a pass-through, First Electric nor AECC profit from it. To ease the burden on your electric bill, we worked jointly with AECC to distribute the charge over nine bills.
The rate adjustment which was scheduled for May 1 has been delayed until September 1.
Also, the rate adjustment which was scheduled for May 1 has been delayed until September 1. I want to tip my hat to the Public Service Commission for allowing us to make this change. The cooperation displayed on all fronts has been remarkable. I’m proud to be part of the co-op family and business model.
In other cooperative news, the Nominating Committee met on March 31, at our headquarters in Jacksonville and reviewed nominations for the board of directors. Election results will be shared at the annual meeting held on June 24 at 10 a.m. in the Jacksonville Community Room.
If you have questions, we’re just one click or phone call away. On behalf of the board of directors, thank you for your membership in First Electric.
Rick Love, Chairman