Cloverland Electric Completes Acquisition of Edison Sault Electric
All customers of Edison Sault Electric are now member-owners of Cloverland Electric Cooperative
May 4, 2010–Cloverland Electric Cooperative today completed its acquisition of Edison Sault Electric Company from Wisconsin Energy Corporation (NYSE: WEC). As a result, all customers of Edison Sault Electric are now member-owners of Cloverland Electric, and all employees of Edison Sault are employees of Cloverland Electric.
“After nearly a year of hard work, planning and community outreach, we are delighted to bring our teams together and welcome thousands of new members to the cooperative,” said Cloverland Electric Executive Vice President and General Manager Dan Dasho.
As with any acquisition of this size, it will take Cloverland Electric a period of time to fully integrate the operations of the two companies. Though all former Edison Sault customers will be member-owners of Cloverland Electric, the cooperative will maintain separate rates, computer systems and billing procedures until the integration is complete. Software, member service and dispatching will be among the first items to merge – most likely in fall 2010.
“The important thing our members need to know is that everything will stay the same in the near term,” said Dasho. “The phone number they call is still the same, the address where they mail their bills is still the same, and the rates are still the same. The only differences are the logos on the sides of the trucks, the name at the top of the bill, and – most importantly – the fact that they’ll enjoy all the benefits of cooperative membership.”
Members with questions about accounts in areas historically served by Cloverland Electric should continue to call 800-562-4953 or visit the offices in Dafter, Newberry or DeTour. Members with questions about accounts in areas formerly served by Edison Sault Electric should continue to call 800-562-4960 or visit the office in Sault Ste. Marie. Member service representatives will be able to easily handle all callers regardless of the office they call. Visitors to Edison Sault’s website will be redirected to an updated Cloverland Electric website.
As members of Cloverland Electric, a not-for-profit electric utility, former Edison Sault customers are now represented by a board of directors that is democratically elected by and from the membership at annual member meetings. Members can learn more about the board of directors and who represents them by visiting Cloverland Electric’s website. In addition to board representation, members have the opportunity to earn patronage capital refunds – the margins of a cooperative that are returned to members over time. Last year, Cloverland Electric disbursed approximately $1 million in capital credit refunds to members – its largest capital credit retirement to date.
In the coming weeks, Cloverland Electric will mail all of its new members a brochure that provides them with all of the basic information they need regarding the cooperative.
Cloverland Electric also unveiled a new logo for the combined company.
“We switched from three leaves to four in the Cloverland logo to symbolize the addition of our friends at Edison Sault who will make our cooperative stronger,” said Dasho. “In addition, four-leaf clovers are considered good fortune – which is exactly how we hope our members feel about the service, reliability and community leadership we provide. The wave at the bottom of the illustration is a nod to both the hydro plant and the Edison Sault logo, and the rich history and tradition they will bring to our cooperative.”
Cloverland Electric Requests TIER Rate Adjustment From MPSC
April 26, 2010–Cloverland Electric Cooperative recently filed a request with the Michigan Public Service Commission seeking an adjustment to its electric rates under the commission’s TIER ratemaking rules. The request is the result of a decline in 2009 electricity sales, and subsequently, reduced revenues. If approved, the adjustment would increase electric rates approximately 6.4 percent. For a residential account using 850 kwh of electricity per month, that would add approximately $6.44 to the monthly bill.
The TIER (Times Interest Earned Ratio) ratemaking procedure uses an objective mathematical formula to determine what electric rates should be. Each year, Cloverland Electric and other
Michigan
electric cooperatives examine their rates using the formula. If the formula suggests the TIER is either too high or too low, the TIER is adjusted as appropriate to fit within an acceptable range.
In 2009, Cloverland Electric did not achieve the minimum required TIER authorized by the MPSC. As a result, the cooperative is seeking a rate adjustment to bring its TIER back into the approved range. The TIER procedure was established to help electric cooperatives keep rates as low as possible while still ensuring they have the funds required to maintain a safe and reliable electric system and meet their financial obligations.
“The combination of a soft economy and increased conservation has reduced our energy sales and prompted this request,” said Dan Dasho, executive vice president and general manager of Cloverland Electric. “I want to assure our members that this filing is unrelated to our proposed acquisition of Edison Sault Electric. In fact, one of the biggest reasons we are pursuing the acquisition is to increase efficiency and help mitigate the need for future adjustments like this.”
Review of a TIER rate case by the MPSC typically takes four to eight months. Rates will remain unchanged until the commission has completed its review and issued an order.
If approved, the change will apply only to those areas served by Cloverland Electric prior to the completion of its pending acquisition of Edison Sault Electric. When the transaction is complete, all Edison Sault customers will become members of Cloverland Electric. However, the cooperative will maintain separate sets of rates for the two systems for a period of time.
Right of Way Clearing Schedule
Tree and brush management along power line rights-of-way is essential to providing you and your neighbors with safe and reliable electric service. Trees and branches contacting power lines are the biggest cause of service interruptions.
This year, we have contracted with Trees Inc. to perform reclearing work along our power lines in all or portions of the following areas: Superior, Chippewa, Bay Mills, Columbus, Garfield, Germfask, Lakefield, and Pentland Townships. If you have questions or concerns, please call us at 1-800-562-4953, ext. 340.
MPSC Announces Notice of Public Hearing
The Michigan Public Service Commission will hold a public hearing on March 2, 2010 to consider the January 26, 2010 joint application of Wisconsin Energy Corporation, Edison Sault Electric Company and Cloverland Electric Cooperative, which seeks MPSC approval, pursuant to MCL 460.6q for the sale and purchase respectively, of 100 percent of the equity interest in Edison Sault Electric Company by Cloverland.
This hearing will set future hearing dates and decide other procedural matters. Any interested person may attend and participate. For more information you may contact the Michigan Public Service Commission at 6545 Mercantile Way Suite 7, Lansing, Michigan or call 517-241-6170.
A copy of the joint application may be reviewed on the MPSC website at michigan.gov/mpscedockets, and at the offices of Edison Sault Electric Company or Cloverland Electric Cooperative.
Cloverland Electric and WEC Seek MPSC Approval of Edison Sault Transaction
Petition filed before Michigan Public Service Commission is next step in regulatory approval process
January 27, 2010– Cloverland Electric Cooperative and Wisconsin Energy Corporation (NYSE: WEC) filed a joint petition before the Michigan Public Service Commission (MPSC) on January 26 seeking approval of the companies’ proposed transaction involving Edison Sault Electric Company. Under the terms of a definitive agreement announced October 28, 2009, Cloverland Electric would acquire Edison Sault Electric from Wisconsin Energy Corporation for approximately $61 million.
The transaction is contingent upon regulatory approvals from the MPSC, the Federal Energy Regulatory Commission and the USDA Rural Utilities Service. Current members of Cloverland Electric overwhelmingly approved the proposed acquisition at a special meeting in November 2009, with 96 percent of votes in favor.
“This filing with the MPSC is the next step in our effort to build a stronger, more efficient and locally owned and controlled utility serving the eastern U.P.,” said Dan Dasho, executive vice president and general manager of Cloverland Electric. “We look forward to working with the MPSC and our friends at Wisconsin Energy over the next few months to secure regulatory approval and begin welcoming thousands of new members to the Cloverland Electric family.”
The combined utility would serve approximately 42,000 accounts, roughly doubling the size of the not-for-profit, consumer-owned electric cooperative. The acquisition would improve Cloverland Electric’s operational efficiency and preserve local control of energy resources, including the Edison Sault hydroelectric plant in Sault Ste. Marie. Presently, the service territories of Cloverland Electric and Edison Sault Electric overlap, respectively serving rural and urban areas in the eastern portion of Michigan’s Upper Peninsula.
Should the transaction receive all requisite approvals, Edison Sault Electric customers will become member-owners of Cloverland Electric and enjoy the benefits of cooperative ownership, including voting rights, board representation and the opportunity for patronage capital refunds – the margins of a cooperative that are returned to members over time. Until the transaction is complete, both companies will serve their respective consumers as they always have, and consumers should continue to direct all questions and other communication to their current utility provider.
Trip of a Lifetime for Local Teens
February 17, 2010–Are you an outgoing high school student eager to meet new people, set a career path and make a difference in your community? If you said yes, then you’re the perfect candidate for Teen Days!
Cloverland Electric Cooperative is looking for students ages 16-17 to participate in Michigan Electric Teen Days, April 28-30. Teen Days is designed to help students learn more about electricity, electrical safety, co-op careers and rural cooperatives. Participants will join other rural co-op students for a fun-filled 3-day adventure at the Kettunen Center near Cadillac. Activities range from learning to climb a utility pole; to visiting the TV 9&10 broadcast station. Cloverland will select and sponsor up to five students to participate in Teen Days with travel, meals and lodging included.
If you’re a high school sophomore or junior (16-17 years old) and your home or cabin is served by Cloverland Electric Cooperative you are eligible to apply. Applications are available online at cloverland.com. The application deadline is April 2.
Students attending Teen Days will automatically be considered for an all-expense paid trip to the National Rural Electric Youth Tour in Washington D.C., June 12-17. Cloverland will select and sponsor one co-op student to attend the event touring our nation’s capital. More than 1,300 high school students from across the country attend each year to represent their local electric cooperative. For one lucky student, this could be a trip of a lifetime. For more information, visit youthtour.coop and our For Teens page or call 800-562-4953, ext. 306.
Cloverland Provides Cash for College
January 21, 2010–Cloverland Electric Cooperative reminds college-bound students that applications are now available for its annual Power of Excellence Scholarship.
As part of Cloverland’s commitment to community education, the cooperative will award one graduating high school senior with a $1,500 scholarship for use at a post-secondary institution. Since 2002, 35 students have benefited from Cloverland’s scholarship program and received more than $15,000 in college assistance.
“We are pleased to offer a variety of scholarship opportunities. A little extra cash for books or tuition is always welcome,” said Wendy Malaska, Director of Marketing and Communications.
Student must be a graduating high school senior with a minimum 2.75 grade point average, based upon a 4.0 scale. The student’s parent or legal guardian must be a member of Cloverland Electric Cooperative and currently receiving electric service from the cooperative. Applicant must also be enrolled or planning to enroll as a full-time student at an accredited university, college or vocational/technical school for the 2010 fall term. The application deadline is March 5, 2010. To request an application by mail or for more information call 1-800-562-4953, ext. 306. For additional scholarship opportunities, please the scholarship page of this website.
Co-op Directors Approve $1,000,000 Capital Credit Refund
December 14, 2009–As a not-for-profit utility, Cloverland Electric Cooperative exists to meet the needs of our member-owners. That’s the co-op difference!
Because we’re not-for-profit, any money beyond the cost of operations is assigned to each member’s capital credit account in proportion to their electricity purchases for that year. The capital credits in a co-op member's account represents his or her share of ownership equity.
Cloverland retires and refunds capital credits over time. After reviewing the co-op’s financial condition, mortgage requirements and future capital needs, the board of directors authorized the distribution of a $1,000,000 refund. If member's purchased electricity from the co-op in 1989 and/or 2008 they will share in this refund.
If a member''s refund is less than $50, a credit appears on their current electric bill. If the amount of the refund either exceeds $50 or an account is inactive, Cloverland issued and mailed 5,882 checks during the first week of December. Most checks were between $50-$99. The average check was $70.
Since Cloverland uses a 20-year revolving retirement cycle, it’s important for members to keep their address current. To update your address or for more information, call 1-800-562-4953 or visit the change of address section of this website.
State Mandated Rate Phase Out Continues
In December 2008, the Michigan Public Service Commission issued an order requiring us to gradually eliminate both the discounted rate tier in our Farm and Home rate and our Electric Select rate. To minimize the impact of this change on our members, we are phasing it out over a few years. Last year we implemented the first phase of this process, and this year we are moving forward with the second phase. In 2011, we will complete this transition by billing all residential service accounts the same kilowatt rate ($0.10278) and facility charge ($9.00). See table below for the mandated rate changes.
Prepare for Potential Outages
December 8, 2009–Cloverland Electric Cooperative is closely monitoring the threat for severe weather conditions for tonight and tomorrow. Heavy snow, high winds and plummeting temperatures are forecasted. The co-op encourages members to be vigilant and prepare for the impact this weather event may have on our rural service area including downed lines, broken power poles and extended outages.
The co-op’s restoration procedure is to make repairs that will restore service to the most people in the least amount of time. It is important that persons with special needs or their caregivers make arrangements ahead of time to prepare for potential interruptions in service.
“Our line crews and member service teams are closely watching the weather and ready to respond. We ask members to be patient and know that we will be working hard to restore power as soon as possible,” said Operations Manager Phil Schmitigal.
Cloverland reminds members with generators to carefully follow the manufacturer’s instructions for safe operations. An improper generator hookup can create serious safety problems. It is important that your generator has the proper transfer switch. This switching device separates the generator from the outside utility service. Without a transfer switch, the generator’s voltage can backfeed onto the power lines and endanger the lives of crews working to restore power.
With safety in mind, stay away from fallen power lines. Assume that any power line is conducting electricity and report these emergencies immediately. Cloverland Electric Cooperative members should call 1-800-562-4953 or 906-635-6800 to report power outages and downed lines.
Cloverland Electric Members Approve Acquisition of
Edison
Sault Electric
November 12, 2009– Cloverland Electric Cooperative members voted overwhelmingly to approve the cooperative’s proposed acquisition of Edison Sault Electric at a special meeting held Thursday evening in Dafter. Over 300 members packed the Dafter Township Hall to hear a presentation by Cloverland’s General Manager Dan Dasho and ask questions before casting their ballots. When the votes were tallied, 96 percent voted in favor.
“The board and I pursued this acquisition because we know it is the single best way for the people of our region to ensure local control of our energy supply, promote long-term rate stability, and improve service through increased efficiency,” said Dasho. “Tonight, our members recognized this transaction for what it is – an exceptionally rare opportunity to take charge of our energy future. Democratic member control is what co-ops are all about, and I am delighted that we are one step closer to bringing all the benefits of cooperative membership to the customers of Edison Sault Electric.”
Cloverland Electric and Edison Sault Electric’s parent company, Wisconsin Energy Corporation, will now move forward with filings before the Michigan Public Service Commission, the Federal Energy Regulatory Commission, and the USDA Rural Utilities Service. Assuming timely approvals from regulators, the utilities expect the transaction to close by mid-year 2010. Until then, both Cloverland Electric and Edison Sault will continue to serve their respective consumers as they always have.
“While the regulators review this transaction, we’ll be out in the community talking with folks, answering questions, and working hard behind the scenes to ensure a smooth transition for both customers and employees,” Dasho said.
Should the transaction receive all requisite approvals, the combined utility would serve approximately 42,000 accounts, roughly doubling the size of the not-for-profit, consumer-owned electric cooperative. Upon closing, all Edison Sault Electric customers would become member-owners of Cloverland Electric and enjoy the benefits of cooperative ownership, including voting rights, board representation and the opportunity for patronage capital refunds – the margins of a cooperative that are returned to members over time. This year Cloverland Electric will disburse approximately $1 million in capital credit refunds to its members – its largest capital credit retirement to date.
Cloverland Electric Members Vote on Edison Sault Acquisition November 12 November 2, 2009– Cloverland Electric Cooperative members will vote on the proposed acquisition of Edison Sault Electric Company on November 12 at the Dafter Township Hall. Member registration will begin at 6 p.m. followed by the special meeting at 7 p.m.
The cooperative will host two informational meetings for members about the proposed acquisition of Edison Sault Electric Company, which will be held in Engadine and DeTour. Pursuant to Michigan law, there will be no voting at these meetings. In order to vote, members must attend the special meeting November 12 in Dafter. Complimentary transportation from Engadine and DeTour will be provided on a space available basis to attend the November 12 meeting.
The informational meeting in Engadine will take place on Tuesday, November 10 at 7 p.m. at the Garfield Township Hall located at N6760 M-117. The informational meeting in DeTour will be held on Wednesday, November 11 at 7 p.m. at the DeTour High School located at 202 South Division St.
Co-op members who require transportation from Engadine and DeTour to the November 12 special meeting are encouraged to call Cory Wilson at 800-562-4953 ext. 306 to make a transportation reservation. For acquisition updates and more co-op news visit cloverland.com.
Cloverland to Purchase Edison Sault Electric Company
If approved by members and regulators, Edison Sault customers will become member-owners of the not-for-profit cooperative
October 29, 2009– Cloverland Electric Cooperative today announced that it has reached a definitive agreement to acquire Edison Sault Electric Company from Wisconsin Energy Corporation (NYSE:WEC). The transaction is contingent upon member and regulatory approval. Assuming the acquisition is approved by both members and regulators, it is expected to close by mid-year 2010.
The combined utility would serve approximately 42,000 accounts, roughly doubling the size of the not-for-profit, consumer-owned electric cooperative. The acquisition would improve Cloverland Electric’s operational efficiency and preserve local control of energy resources, including the Edison Sault hydroelectric plant in Sault Ste. Marie. Presently, the service territories of Cloverland Electric and Edison Sault Electric overlap, respectively serving rural and urban areas in the eastern portion of Michigan’s Upper Peninsula (see service map link on homepage).
“Cloverland Electric has served the Upper Peninsula for more than 70 years, and for much of that time we have worked closely with Edison Sault Electric for the mutual benefit of our consumers through our combined wholesale power purchases,” said Cloverland Executive Vice President and General Manager Dan Dasho. “This is a unique opportunity to bring the best of both worlds to the energy consumers in our region. They’ll continue to enjoy safe and reliable service from a local company that they own, while realizing improvements in service and efficiency that come from being part of a larger organization.”
Dasho said the biggest consumer benefit of this transaction will be helping to control rate increases over time.
“Prices for electricity will go up over time due to inflation and other factors beyond our control, including the climate change legislation currently under consideration in Washington,” Dasho said. “While we can’t stop these increases, we can take actions to ease their effects. This acquisition will give us new efficiencies that will encourage long-term rate stability for all energy consumers in our region.”
That sentiment was echoed by Gale Klappa, chairman, president and chief executive officer of Wisconsin Energy.
“Without this transaction – given that Edison Sault has not filed for a base rate increase in almost 25 years – Edison Sault would have needed to request higher retail rates in the not too distant future,” Klappa said. “The combination of the two utility operations should allow these increases to be mitigated.”
Dasho said combining the talents of personnel at both companies would build a stronger workforce and improve customer service.
“Both Cloverland Electric and Edison Sault Electric are very efficiently staffed organizations,” Dasho said. “We’ll need the skills and experience of the people at both companies to deliver the high-quality service our members and customers expect. We look forward to welcoming the employees of Edison Sault Electric into the Cloverland Electric family.”
The International Brotherhood of Electrical Workers, which represents Cloverland Electric employees, and the United Steelworkers, which represents Edison Sault Electric employees, will continue to represent their respective bargaining units upon completion of the acquisition.
Cloverland Electric will conduct a special member meeting to explain the transaction, discuss its benefits, and hold a member vote on Thursday, Nov. 12, 2009, at the Dafter Township Hall. Registration will start at 6 p.m., and the business session will begin at 7 p.m. Members will receive an official notice and additional information by mail prior to the meeting.
For the acquisition to be approved by members, it must receive a simple majority of all votes cast at the meeting. Votes will be counted and certified by the cooperative’s legal counsel, and the results will be announced on Cloverland Electric’s Web site and in a news release.
Should the transaction receive all requisite approvals, Edison Sault Electric customers will become member-owners of Cloverland Electric and enjoy the benefits of cooperative ownership, including voting rights, board representation and the opportunity for patronage capital refunds – the margins of a cooperative that are returned to members over time. This year Cloverland Electric will disburse approximately $1 million in capital credit refunds to its members – its largest capital credit retirement to date.
Member Appreciation Week Prize Winners Announced
October 27, 2009--173 co-op members signed up for the three district prize drawings during Member Appreciation Week, October 19-23. Three winners were randomly drawn from each district office.
The following members have won an Green House (Energy Efficiency) Eco-Kit and $25 Energy Card: Everett Trumbley (Sault Ste. Marie), Deanna Pentland (Dafter), Barbera Desrochers (Dafter), Lewis Woods (DeTour Village), Allen Woods (DeTour Village), Eleanor Fierek (DeTour Village), Joyce LaCross (Newberry), Chris (Christine) Wallace (McMillan), and Bueford Reynolds (Newberry).
Congratulations to all our winners! All winners have been notified.
Cloverland Hosts Coffee and Conversation Opportunity
October 15, 2009--Cloverland Electric Cooperative’s general manager, Dan Dasho, invites co-op members to stop by Fisher’s Restaurant in DeTour on Tuesday, October 20, 2009 from 8:00 a.m. to 10:00 a.m. and meet with him.
"I’m looking forward to talking with our members and answering their questions,” said co-op general manager, Dan Dasho. "The coffee is on me.”
Cloverland Electric Cooperative is one of 900 distribution electric cooperatives nationwide celebrating National Co-op Month. Cloverland Electric Cooperative is a not-for-profit, member-owned electric utility proudly serving the Eastern Upper Peninsula since 1938.
Cloverland Celebrates Co-op Month; Member Appreciation Week Oct. 19-23
October 2, 2009--Cloverland Electric Cooperative is celebrating National Co-op Month in October. Each October, cooperatives all across America celebrate the role, accomplishments and contributions of our nation’s cooperatives. The annual celebrations play a key role in promoting cooperatives to our members, the public and policy makers. Through a combination of media outreach, member education, and interaction with policy makers, co-op month events help raise the visibility of cooperatives, and improves public understanding of cooperatives.
As part of the celebration, Cloverland Electric will host Membership Appreciation Week October 19-23 at each district office. Open house hours will be held throughout the week in Newberry (1 p.m. -4 p.m.), Dafter (9 a.m.- 4 p.m.), and DeTour (9 a.m.- 1p.m.). Visitors will enjoy snacks, refreshments, and a free entry into to a prize drawing. Prizes will be awarded at each district office.
Board Officers Elected; Schallip Named President
August 13, 2009--Bob Schallip was elected as the new Cloverland Electric board president during the July board meeting. He previously served as vice president and has been a board member since 1998.
Past president Carl Eagle will continue to serve as a board member. He served as president since June 1999 and has nearly 50 years of service on the board.
Dale Carlson was elected the new vice president. Dick Newland was re-elected as secretary/treasurer.
The board of directors consists of nine co-op members, who represent three districts spanning four counties. Co-op members elect their representatives during the annual district meetings in April. Directors serve a three-year term of office.
Annual District Meeting Dates Announced
March 25, 2009--Cloverland Electric Cooperative will hold its annual membership meetings in the following locations:
Membership District C- Tuesday, April 21, Pentland Twp Hall (Newberry) Election: Incumbent Director, Tamara Gady of Moran (Unopposed)
Membership District B- Wednesday, April 22, Dafter Twp Hall (Dafter) Election: Incumbent Director, Carl Eagle of Sault Ste. Marie (Unopposed)
Membership District A- Thursday, April 23, DeTour High School (DeTour) Election: Incumbent Director, Richard Newland of DeTour (Unopposed)
Registration begins at 6 p.m. followed by the program at 7p.m. The purpose of each meeting is to elect a district director and provide members with a business update. The evening festivities also include a $100 grand prize drawing, $250 "Luck of the Draw" random scholarship, live entertainement, free blood pressure screenings, food and door prizes! If you are unsure of your membership district, call us at 1-800-562-4953.
Electric Rates Increase
January 5, 2009--Last year, we began recovering the higher power costs associated with our new wholesale power contract through the Power Supply Cost Recovery factor (PSCR). The PSCR factor appears as a separate line item on your electric bill. We have now realigned our power costs to more appropriately incorporate them into our base rates and reduce the PSCR.
On Dec. 4, 2008, the Michigan Public Service Commission approved our rate application for a 4.5 percent increase in our base rates. Our new rates will enable us to better meet the financial requirements of our lenders.
"Even with the changes to our base rates, the total amount of your bill is less than a year ago for the same amount of electricity, " said General Manager Dan Dasho.
January 5, 2009--For the first time in many years, the PSCR factor is now a credit instead of charge. Through new provisions in our wholesale power contract, we can partially control our power costs by operating our generation units in Dafter and DeTour when the regional demand for energy peaks. We are passing these saving along to you through the PSCR factor. We anticipate it remaining a credit for the rest of this year.
Rate Discounts Disappear
January 5, 2009--At its December, 2008 meeting, the Michigan Public Service Commission ordered that we begin phasing out the discounted step in our Farm and Home rate for usage above 500 kilowatt hours and our Electric Select rate. These changes will occur over the next three years. Eventually, all participants in the Electric Select rate will be billed the rates authorized under the Farm and Home rate.
Copyright 2009-2010, Cloverland Electric Cooperative, 2916 W. M-28, Dafter, MI 49724
1-800-562-4953 Fax (906) 635-6815
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