WEDNESDAY IS THE BIG NIGHT
NOVEMBER 6, 2024
LOST RIVER ELECTRIC COOPERATIVE, INC.
85th ANNUAL MEETING OF THE MEMBERS
At The Mackay High School Auditorium
In Mackay, Idaho6:00 P.M. Registration
7:00 P.M. Business Meeting
G R A N D P R I Z E $500.00 E L E C T R I C C R E D I T
With Lots of Other Raffle Prizes
Members don’t forget to pick up your free gift bag.
At this meeting, the following nominees for directors from District No. 1, District No. 2 and District No. 3, who are running are as follows:
DISTRICT NO. 1 DISTRICT NO. 2 DISTRICT NO. 3
Jerry Browne Stephanie Leavitt James McKelvey
Travis Buckwalter Josh Pehrson
Don Wainwright
Wrangler Williams
The candidates of your choice deserve your support. Each member can vote for one candidate in each district.
Remember – the Cooperative is your business. It needs your vote and voice for a successful operation.
Other business matters will also be brought before the members at this meeting.
If for some reason you are unable to attend, vote absentee, ballots are available in the Ruralite or at the cooperative office. There will be a $250.00 absentee ballot drawing. However, to be eligible for a door prize or a prize at the meeting, you must be present at the time of the drawing.
See you Wednesday night the 6th!!!!
LOST RIVER ELECTRIC COOPERATIVE, INC.
Board of Directors, Manager and Staff
2023 was a pivotal year for Lost River Electric Cooperative (LREC), with major new initiatives to launch LREC’s future in an Advanced Metering System (AMI) as a more efficient and accurate meter system. Our Cooperative has been solid, from over eighty years of sound leadership and the tireless work of our exceptional employees. But the electric industry is on the threshold of transformation, and it was time to move on to more efficient and effective ways of serving our members.
The AMI system provides the Cooperative with faster and more accurate outage reporting, real time power quality data, more accurate billing and most of all a safer system for our employees and our consumers. When an electric fire occurs an electric service must be disconnected prior to performing liquid suppression measures. AMI remote disconnect meters allow the utility to disconnect the power in route to an incident. Power quality data can assist a utility in protecting consumers from property damage or physical injury by reporting unsafe conditions in real time. AMI reduces many costs by providing this service manually, including but not limited to the cost of vehicle wear and tear and fuel. The manual system consumed a substantial amount of the employee’s time, granting them more time for system upkeep, conservation services for our member, and fire mitigation. LREC has completed the installation, with the exception of a few outlying meters and a few irrigation pumps, which required upgrades to the member’s system. LREC is proud to have accomplished this and we would like to thank the line workers for their effort in completing this project safely and efficiently. The new AMI also grants to you the consumer the ability to review and monitor your usage through the Smart Hub.
This is also a pivotal year regarding LREC’s contract negotiations with the Bonneville Power Administration (BPA). LREC is a full requirement customer of BPA, meaning all our power comes from BPA. BPA has always provided LREC with clean reliable and affordable wholesale energy. These agreements with BPA are the cornerstone for LREC’s future.
BPA also sells any unused power in the Columbia River System which boosts their profit in an attempt to keep the whole sale power costs low. In 2023 due to the market sales, BPA granted to LREC a power distribution credit, which helped LREC maintain a sustainable margin.
This year was also historic as LREC had one of the lowest irrigation seasons on record. With the release of water from the Mackay dam coupled with various rain storms, irrigators reduced their need to pump drastically. However, BPA has now notified LREC that there will be a significant rise in wholesale power. Therefore, LREC had to raise rates 5.5% to cover the increase in costs commencing with the January billing in 2024. The cost increase not only includes the increase in wholesale power but also increases in hardware and material costs and services. Further, LREC once again saw continued extraordinary growth in 2023 and with it, the need to bolster our systems to meet new member demand. Therefore operating revenue increased and more power usage placed LREC in a new power category with BPA, also known as Tier 2 power.
The cooperative recorded a net margin of approximately $6.4 million in 2023, as compared to approximately $7.1 million margin in 2022.
LREC’s capital credit retirement was $479,537. This sum was returned in December of 2023, to the members who utilized our system in 2006 and 2007.
LREC will continue building a cooperative that connects our lives and communities through safety and innovation. We thank you for your membership and look forward to serving you in 2024 and beyond.
2023 Senior Scholarship applications are also available at the office.
If you have a senior graduating from high school in 2023, please contact the office to receive an application.
Announcing Solicitation of Candidates for Board of Directors
Article III Section III
Section 3. Nominations. Each candidate for a position as a Director of the Cooperative shall file a nominating petition and declaration of candidacy with the Secretary at least sixty (60) days prior to the Annual Meeting of the Cooperative. The petition shall be signed by not less than fifteen (15) members of the Cooperative on a form provided by the Board of Directors. In the event that no petition or petitions are received, the Board of Directors shall nominate a candidate or candidates for the position on the Board of Directors to be voted upon at the annual meeting of the members. Nothing contained herein shall, however, prevent additional nominations to be made from the floor at the meeting of the members.
The election for Board of Directors will be held at the Lost River Electric Cooperative Annual Meeting of the Members, November 2, 2022, beginning at 7:00 PM, at the Mackay High School Auditorium, Mackay, Idaho.
In order to have your name on the voting ballot, all completed petitions must be received at the main office of Lost River Electric Cooperative, Inc. on or before September 1, 2022, prior to the close of its’ normal business day. Official petitions maybe picked up at the main office, emailed, or mailed to individuals upon request.
Please contact our main office at (208) 588 – 3311 if you have any questions or comments.
Energy Credits for Green Power
Lost River Electric Cooperative
Green power represents a sale of electricity generated from renewable energy resources by the Cooperative or by our power service provider. RECs represent the environmental benefits derived from renewable energy projects. They are sold as a commodity separately from the electricity. Green power/ RECs are sold in blocks of megawatt-hours (MWh).
REC purchases represent one of the easiest ways for a Consumer to help with carbon reduction. No contractual agreements are needed and no physical implementation is required.
If at any time a Consumer requests to purchase REC certificates from the Cooperative, the Consumer shall contact the Cooperative and will be notified whether those certificates are available. If available, the Consumer shall be charged a fee of $2.00 per MWh. Upon receipt of payment, the Cooperative will contact our power service provider and procure a REC certificate on the Consumer’s behalf.
LOST RIVER ELECTRIC COOPERATIVE, INC. 2021 ANNUAL MEETING RECAP
Lost River Electric Cooperative, Inc. held its 82nd Annual Meeting of the Members on Wednesday, November 3rd, 2021. Due to the ongoing COVID-19 pandemic, the meeting was once again held virtually. Board President, Randy R. Purser, conducted.
The 2021 Annual Financial Report was presented by Board Vice-President, Susan M. Harris. Harris reported a July 31, 2021 operating margin of $1,436,000 and a projected year-end margin of approximately $1,300,000. General Manager, Brad J. Gamett, presented the general manager’s report and conveyed that the elevated 2021 margin is due primarily to higher-than-average energy sales in the irrigation rate class (due foremost to the severe drought) and due secondarily to increased energy sales in the residential rate class. The uptick in residential sales is the result of growth in the number of new residential services.
Further, Manager Gamett reported the Board decision to retire 2005 patronage in the amount of $461,000, with payments to be issued in mid-December 2021. Additionally, given results of a recently concluded revenue requirements analysis, the Cooperative will have no rate increase in 2022.
The Cooperative Directors continue to explore feasibility of the implementation of an advanced metering infrastructure (AMI) system. An AMI system could help to serve the best interest of the members of the Cooperative through increasing efficiencies in reducing meter reading costs and providing greater reliability through system monitoring.
Manager Gamett reviewed Cooperative Principle 1, Open and Voluntary Membership, which states
“Membership in a cooperative is open to all people who can reasonably use its services and stand willing to accept the responsibilities of membership, regardless of race, religion, gender, or economic circumstances.” This guiding principle is central to the functionality of our cooperative.
Items brought before the membership for voting were Bylaw amendments and Director Elections.
In holding with the cooperative ideal of open and voluntary membership, your board of directors recommended a change to Article I, Section 1 of our Bylaws wherein,—as a condition of membership—individual members would provide reasonable rights-of-way access to power service for other members. Members supported this proposal through voting to pass the amendment. In complying with this bylaw, your Board of Directors will provide policy procedure to fairly handle easement disputes that may arise from denial of power service right-of-way access.
Finally, the membership elected three directors—one from each district. Merlin A. Waddoups from District 1, Lynn O. Rothwell from District 2, and James D. McKelvey from District 3.
The Lost River Electric Cooperative, Inc. Board of Directors and Staff hope to see you all in person next year for our annual meeting. We look forward to continuing the advancement of your needs as a cooperative membership throughout the coming year.
Lost River Electric Cooperative, Inc.
Change in Business Hours
Commencing April 4, 2022
Notice is hereby given that Lost River Electric Cooperative, Inc. will be changing their hours of business beginning April 4, 2022.
Lost River Electric Cooperative, Inc.
Brad J. Gamett, Manager/CEO
________________________________________________________________________________________________________________________________________________________________________
Energy Credits for Green Power
Lost River Electric Cooperative
Green power represents a sale of electricity generated from renewable energy resources by the Cooperative or by our power service provider. RECs represent the environmental benefits derived from renewable energy projects. They are sold as a commodity separately from the electricity. Green power/ RECs are sold in blocks of megawatt-hours (MWh).
REC purchases represent one of the easiest ways for a Consumer to help with carbon reduction. No contractual agreements are needed and no physical implementation is required.
If at any time a Consumer requests to purchase REC certificates from the Cooperative, the Consumer shall contact the Cooperative and will be notified whether those certificates are available. If available, the Consumer shall be charged a fee of $2.00 per MWh. Upon receipt of payment, the Cooperative will contact our power service provider and procure a REC certificate on the Consumer’s behalf.
NOVEMBER 6, 2024
LOST RIVER ELECTRIC COOPERATIVE, INC.
85th ANNUAL MEETING OF THE MEMBERS
At The Mackay High School Auditorium
In Mackay, Idaho6:00 P.M. Registration
7:00 P.M. Business Meeting
G R A N D P R I Z E $500.00 E L E C T R I C C R E D I T
With Lots of Other Raffle Prizes
Members don’t forget to pick up your free gift bag.
At this meeting, the following nominees for directors from District No. 1, District No. 2 and District No. 3, who are running are as follows:
DISTRICT NO. 1 DISTRICT NO. 2 DISTRICT NO. 3
Jerry Browne Stephanie Leavitt James McKelvey
Travis Buckwalter Josh Pehrson
Don Wainwright
Wrangler Williams
The candidates of your choice deserve your support. Each member can vote for one candidate in each district.
Remember – the Cooperative is your business. It needs your vote and voice for a successful operation.
Other business matters will also be brought before the members at this meeting.
If for some reason you are unable to attend, vote absentee, ballots are available in the Ruralite or at the cooperative office. There will be a $250.00 absentee ballot drawing. However, to be eligible for a door prize or a prize at the meeting, you must be present at the time of the drawing.
See you Wednesday night the 6th!!!!
LOST RIVER ELECTRIC COOPERATIVE, INC.
Board of Directors, Manager and Staff
2023 was a pivotal year for Lost River Electric Cooperative (LREC), with major new initiatives to launch LREC’s future in an Advanced Metering System (AMI) as a more efficient and accurate meter system. Our Cooperative has been solid, from over eighty years of sound leadership and the tireless work of our exceptional employees. But the electric industry is on the threshold of transformation, and it was time to move on to more efficient and effective ways of serving our members.
The AMI system provides the Cooperative with faster and more accurate outage reporting, real time power quality data, more accurate billing and most of all a safer system for our employees and our consumers. When an electric fire occurs an electric service must be disconnected prior to performing liquid suppression measures. AMI remote disconnect meters allow the utility to disconnect the power in route to an incident. Power quality data can assist a utility in protecting consumers from property damage or physical injury by reporting unsafe conditions in real time. AMI reduces many costs by providing this service manually, including but not limited to the cost of vehicle wear and tear and fuel. The manual system consumed a substantial amount of the employee’s time, granting them more time for system upkeep, conservation services for our member, and fire mitigation. LREC has completed the installation, with the exception of a few outlying meters and a few irrigation pumps, which required upgrades to the member’s system. LREC is proud to have accomplished this and we would like to thank the line workers for their effort in completing this project safely and efficiently. The new AMI also grants to you the consumer the ability to review and monitor your usage through the Smart Hub.
This is also a pivotal year regarding LREC’s contract negotiations with the Bonneville Power Administration (BPA). LREC is a full requirement customer of BPA, meaning all our power comes from BPA. BPA has always provided LREC with clean reliable and affordable wholesale energy. These agreements with BPA are the cornerstone for LREC’s future.
BPA also sells any unused power in the Columbia River System which boosts their profit in an attempt to keep the whole sale power costs low. In 2023 due to the market sales, BPA granted to LREC a power distribution credit, which helped LREC maintain a sustainable margin.
This year was also historic as LREC had one of the lowest irrigation seasons on record. With the release of water from the Mackay dam coupled with various rain storms, irrigators reduced their need to pump drastically. However, BPA has now notified LREC that there will be a significant rise in wholesale power. Therefore, LREC had to raise rates 5.5% to cover the increase in costs commencing with the January billing in 2024. The cost increase not only includes the increase in wholesale power but also increases in hardware and material costs and services. Further, LREC once again saw continued extraordinary growth in 2023 and with it, the need to bolster our systems to meet new member demand. Therefore operating revenue increased and more power usage placed LREC in a new power category with BPA, also known as Tier 2 power.
The cooperative recorded a net margin of approximately $6.4 million in 2023, as compared to approximately $7.1 million margin in 2022.
LREC’s capital credit retirement was $479,537. This sum was returned in December of 2023, to the members who utilized our system in 2006 and 2007.
LREC will continue building a cooperative that connects our lives and communities through safety and innovation. We thank you for your membership and look forward to serving you in 2024 and beyond.
2023 Senior Scholarship applications are also available at the office.
If you have a senior graduating from high school in 2023, please contact the office to receive an application.
Announcing Solicitation of Candidates for Board of Directors
Article III Section III
Section 3. Nominations. Each candidate for a position as a Director of the Cooperative shall file a nominating petition and declaration of candidacy with the Secretary at least sixty (60) days prior to the Annual Meeting of the Cooperative. The petition shall be signed by not less than fifteen (15) members of the Cooperative on a form provided by the Board of Directors. In the event that no petition or petitions are received, the Board of Directors shall nominate a candidate or candidates for the position on the Board of Directors to be voted upon at the annual meeting of the members. Nothing contained herein shall, however, prevent additional nominations to be made from the floor at the meeting of the members.
The election for Board of Directors will be held at the Lost River Electric Cooperative Annual Meeting of the Members, November 2, 2022, beginning at 7:00 PM, at the Mackay High School Auditorium, Mackay, Idaho.
In order to have your name on the voting ballot, all completed petitions must be received at the main office of Lost River Electric Cooperative, Inc. on or before September 1, 2022, prior to the close of its’ normal business day. Official petitions maybe picked up at the main office, emailed, or mailed to individuals upon request.
Please contact our main office at (208) 588 – 3311 if you have any questions or comments.
Energy Credits for Green Power
Lost River Electric Cooperative
Green power represents a sale of electricity generated from renewable energy resources by the Cooperative or by our power service provider. RECs represent the environmental benefits derived from renewable energy projects. They are sold as a commodity separately from the electricity. Green power/ RECs are sold in blocks of megawatt-hours (MWh).
REC purchases represent one of the easiest ways for a Consumer to help with carbon reduction. No contractual agreements are needed and no physical implementation is required.
If at any time a Consumer requests to purchase REC certificates from the Cooperative, the Consumer shall contact the Cooperative and will be notified whether those certificates are available. If available, the Consumer shall be charged a fee of $2.00 per MWh. Upon receipt of payment, the Cooperative will contact our power service provider and procure a REC certificate on the Consumer’s behalf.
LOST RIVER ELECTRIC COOPERATIVE, INC. 2021 ANNUAL MEETING RECAP
Lost River Electric Cooperative, Inc. held its 82nd Annual Meeting of the Members on Wednesday, November 3rd, 2021. Due to the ongoing COVID-19 pandemic, the meeting was once again held virtually. Board President, Randy R. Purser, conducted.
The 2021 Annual Financial Report was presented by Board Vice-President, Susan M. Harris. Harris reported a July 31, 2021 operating margin of $1,436,000 and a projected year-end margin of approximately $1,300,000. General Manager, Brad J. Gamett, presented the general manager’s report and conveyed that the elevated 2021 margin is due primarily to higher-than-average energy sales in the irrigation rate class (due foremost to the severe drought) and due secondarily to increased energy sales in the residential rate class. The uptick in residential sales is the result of growth in the number of new residential services.
Further, Manager Gamett reported the Board decision to retire 2005 patronage in the amount of $461,000, with payments to be issued in mid-December 2021. Additionally, given results of a recently concluded revenue requirements analysis, the Cooperative will have no rate increase in 2022.
The Cooperative Directors continue to explore feasibility of the implementation of an advanced metering infrastructure (AMI) system. An AMI system could help to serve the best interest of the members of the Cooperative through increasing efficiencies in reducing meter reading costs and providing greater reliability through system monitoring.
Manager Gamett reviewed Cooperative Principle 1, Open and Voluntary Membership, which states
“Membership in a cooperative is open to all people who can reasonably use its services and stand willing to accept the responsibilities of membership, regardless of race, religion, gender, or economic circumstances.” This guiding principle is central to the functionality of our cooperative.
Items brought before the membership for voting were Bylaw amendments and Director Elections.
In holding with the cooperative ideal of open and voluntary membership, your board of directors recommended a change to Article I, Section 1 of our Bylaws wherein,—as a condition of membership—individual members would provide reasonable rights-of-way access to power service for other members. Members supported this proposal through voting to pass the amendment. In complying with this bylaw, your Board of Directors will provide policy procedure to fairly handle easement disputes that may arise from denial of power service right-of-way access.
Finally, the membership elected three directors—one from each district. Merlin A. Waddoups from District 1, Lynn O. Rothwell from District 2, and James D. McKelvey from District 3.
The Lost River Electric Cooperative, Inc. Board of Directors and Staff hope to see you all in person next year for our annual meeting. We look forward to continuing the advancement of your needs as a cooperative membership throughout the coming year.
Lost River Electric Cooperative, Inc.
Change in Business Hours
Commencing April 4, 2022
Notice is hereby given that Lost River Electric Cooperative, Inc. will be changing their hours of business beginning April 4, 2022.
- The Office and Operations Personnel will be available from 7:00 AM to 5:30 PM, Monday through Thursday.
- All Board Meeting will still take place on the fourth Friday of every month, at 8:30 AM. (NO CHANGE)
Lost River Electric Cooperative, Inc.
Brad J. Gamett, Manager/CEO
________________________________________________________________________________________________________________________________________________________________________
Energy Credits for Green Power
Lost River Electric Cooperative
Green power represents a sale of electricity generated from renewable energy resources by the Cooperative or by our power service provider. RECs represent the environmental benefits derived from renewable energy projects. They are sold as a commodity separately from the electricity. Green power/ RECs are sold in blocks of megawatt-hours (MWh).
REC purchases represent one of the easiest ways for a Consumer to help with carbon reduction. No contractual agreements are needed and no physical implementation is required.
If at any time a Consumer requests to purchase REC certificates from the Cooperative, the Consumer shall contact the Cooperative and will be notified whether those certificates are available. If available, the Consumer shall be charged a fee of $2.00 per MWh. Upon receipt of payment, the Cooperative will contact our power service provider and procure a REC certificate on the Consumer’s behalf.