February CEO Message: Giving the Gift of Light
This December three of our linemen had a unique opportunity to help bring electricity to the people of Haiti. It is an incredible feeling for our co-op in Minnesota to be able to help people living thousands of miles away. By traveling to Haiti, our linemen were able to directly assist the people there and improve their quality of life. Many areas in Haiti still lack the basic electric infrastructure that we take for granted here. LREC’s linemen joined Haitian crews to construct a large three-phase project serving a primarily residential area.
January CEO Message: New Year Brings New Opportunities
As we welcome the new year, the leadership team of Lake Region Electric Cooperative is mindful that we must always be looking forward. We serve as the stewards of the electric cooperative that you own. Therefore, our priority is to make sure you are getting value for your co-op membership, as well as your energy dollar. We enter 2017 from a position of financial strength and are carrying forward that positive outlook. Our goal is to be your local trusted energy provider and to go beyond the traditional utility role to not only meet your needs, but exceed your expectations.
CEO Column: December 2016 — Rate Increase Approved for 2017
During its October meeting the Lake Region Electric Board of Directors approved a 4.3% overall rate increase effective on January 1st, 2017. The actual percentage varies according to rate class and can differ for individual members based on their electric consumption. LREC last increased rates in 2013 and off-peak heating rates haven’t changed since 2008. In fact, since 2013 LREC has been able to offset or absorb over $3 million in wholesale power cost increases.
Capital Credits Approved
Your board of directors recently approved the retirement of $1.15 million in patronage capital credits in 2016. This is equal to 2.5% of equity. People and organizations who were members of Lake Region Electric Cooperative in 1990 and 1991 are receiving capital credit retirements.
2017 District Meeting Schedule
Candidates for the LREC Board of Directors will be nominated in districts 2, 5, and 8. There will be a meeting held in each of the three nominating districts. You are invited to attend any meeting, although only members of nominating districts will be allowed to vote.
CEO Message: November 2016
CEO Tim Thompson discusses how electricity is such an integral part of our lives that its value is often overlooked. Perhaps we can look at it in a new way. He also delivers an update on the Cost of Service study and what those results mean for rates.
Boo Bash 2016 Thank You
Thanks to all LREC employees, families, local businesses and charitable organizations that helped make the Community Halloween party a huge success!
CEO Message: October 2016
CEO Tim Thompson discusses the roles that cooperatives havenplayed in building our nation's economy and communities. He also announces LREC's new prepay option, Pay-As-You-Go and the ongoing cost of service study.
LREC Introduces Pay-As-You-Go
Pay when you want, how you want, and the amount you want with Lake Region Electric Cooperative’s new Pay-As-You-Go program. Prepay billing provides another option for members interested in monitoring and lowering their electricity consumption.
CEO Message: September 2016
CEO Tim Thompson discusses the recent rate study conducted and goes over the how those results will influence electric rates.