SOUTHEASTERN
HOLDS IT'S 65th ANNUAL MEETING
Members
attending SouthEastern’s 65th Annual Meeting held on Tuesday August 5th,
learned the following seven basic facts about cooperatives:
Cooperatives
are voluntary organizations of people who have a common interest in providing
themselves with goods or services on a not-for-profit basis.
Because
Cooperatives are local, they are more accessible.
Consumers
have a voice in the operation of Cooperatives on a "one vote per member"
basis.
Most
electric Cooperatives, including SouthEastern, were originally financed
by the Rural Electrification Administration (the REA), a federal agency
created in the 1930’s to address the fact that over 90% of rural homes
had no electricity at that time.
The
REA was created to loan money to existing power companies for rural electrification
purposes, but despite the availability of long-term, low interest loans,
the existing power companies concluded there was no profit in serving rural
areas, and as a result of that decision the people of rural Southern Illinois
joined together to provide to themselves what the power companies would
not, literally making SouthEastern a power company, "for the people and
by the people".
Because
Cooperatives are owned by the people they serve, Cooperatives have a commitment
to the communities their members live in.
Members
also learned that their Cooperative extended service to 540 new accounts
in 2002 and constructed 31 miles of new power line. The Cooperative
updated two of its substations to accommodate the new growth along the
Route 13 corridor west of Marion and used extensive testing procedures
at each of its 36 substations to improve the reliability of every member’s
electric service. In total, the Cooperative spent some 4.5 million
dollars on additions and improvements to its electric system.
The
Cooperative plans to improve clerical and billing services to members by
installing new equipment and plans to change the billing procedure for
residential members sometime in the future.
When
the change is implemented, members will continue to read their own meters,
but will forward their readings to the Cooperative where the bills will
be calculated and members invoiced for the amount due.
Members
also learned that their Cooperative had one of the lowest rate schedules
of any of the 26 electric cooperatives operating in Illinois, and despite
the fact that SouthEastern’s wholesale cost of power would increase by
5% in September of 2003, no rate increase was planned for 2004, barring
unforeseen circumstances. |