Todd-Wadena Electric Cooperative to mail $429,000 in capital credits to members
The Todd-Wadena Electric Cooperative board has authorized a distribution this month of $429,000 in capital credit dividends. Checks will be mailed to qualifying members before December 15.
"The decision to pay out capital credits is based on projected year-end margins," Todd-Wadena President Bruce Berg said. "Although power costs continue to rise, the current economic condition resulted in fewer new-service builds and associated expenses. Temperatures in 2009, together with an effective load management program greatly reduced demand costs that tend to soar when overall electricity use is high."
Because of the positive year-end margins, targeted equity and budget-tightening measures, no rate increase is expected in 2010, Berg said.
"We are very pleased to maintain rate levels for members, especially when times are tough for so many," he said.
Meet next general manager Robin Doege at Dec. 16 Open House
Retiring General Manager Dale Hendrickson invited the public to stop by Todd-Wadena's Holiday Open House on Dec. 16 to meet his successor, Robin Doege. Doege will officially take over leadership duties at the cooperative January 1.
"I've always enjoyed talking to members at the annual Open House," Hendrickson said. "It will seem strange this year to know it's the final event here for me. I hope to have the chance during the Open House to convey my appreciation to people in the area who have extended their support and friendship over my 22 years here. As I move on, I know Robin and our hard-working employees will continue to deliver high-quality, cost-effective electric service."
The Holiday Open House will be held from 9 a.m. to 4 p.m. on Wednesday, December 16, in the lower level meeting room of the cooperative headquarters, located on East Highway 10 in Wadena.