What
Does Non-Profit Mean to
Salem Electric's Members?
Salem Electric is a cooperative, "not-for-profit" organization, but the co-op's
annual budget does provide for a "net margin" each year.
Salem
Electric's net margin is allocated to the co-op's members in the form of
capital credits based on the total amount each member paid Salem Electric for
electricity. Each spring members who purchased electricity from the co-op
during the previous year receive a notice (below), letting them know how much
was allocated to them, as well as their total allocations to date.
Capital credits are currently paid, as approved by the
board, on an approximate 20-year revolvement; that doesn't mean the margin is
idle excess money. Like any other business, Salem Electric has operating costs
but, unlike for-profit companies, every margin dollar Salem Electric takes in
is spent on: capital improvements (wire, poles, and transformers); general
plant additions (computers, communication and office equipment, vehicles,
etc.); debt repayment; and payment of capital credits earned by current and
former members who have contributed to the margin in prior years. Since Salem
Electric began revolving capital credits in 1979, more than $6 million has been
returned to customers.
By comparison, for-profit companies or investor- owned
utilities take a portion of the ratepayer's money and distribute it among their
shareholders.
Through November Salem Electric has paid approximately
$842,000 in capital credits in 2001, which was earned in years 1980 and 1981,
to current and former members, with an average payment of $120 per member.
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Post Holiday Electrical Safety
With the holidays behind us, it's
time to take down those seasonal decorations and put them away for another
year. Salem Electric urges you to focus on electrical safety before you stuff
those holiday lights back into the box or place those animated displays back
into storage. The safety precautions you take now can prevent hazards from
occurring next year and all year long.
Chances are that some of those holiday gifts you and
your family received are electrical toys or appliances. According to the U.S.
Consumer Product Safety Commission, there are hundreds of injuries and
electrical fires due to poor safety practices. Salem Electric stresses the
importance of safety precautions around the home all year long.
Here is a checklist of some post-holiday precautions
to take for a safer new year.
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When using electrical toys or appliances for the first time,
carefully read and follow all instructions in the manufacturer's use and care
booklet. Make sure electrical toys and appliances have been tested and
certified by a nationally recognized certification agency such as Underwriters
Laboratories Inc. (UL)
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Don't pull plugs from electrical outlets by the cord. Unplug
holiday light strings and decorations by using the gripping area provided on
the plugs. Yanking or tugging on the cord can damage the cord's wire or
insulation and could lead to an electrical shock or fire.When putting away
electrical decorations take time to inspect them for damage. Check each light
string or decoration for broken or cracked sockets, frayed or bare wires and
loose connections.
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Replace worn or broken light sets. Do not place faulty light strings or
decorations back into the storage box for next year's use. Buying new lights
that bear the mark of an independent certification agency is well worth the
price.
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Electrical decorations are not toys. Store them away from children and pets.
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Never store light strings and electrical decorations near water or in a place
where their insulation or parts could be damaged.
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Separate outdoor decorations from indoor decorations, and label them
accordingly. Using indoor decorations outdoors can be hazardous because they
are not weather resistant.
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Never burn evergreens or gift wrap in the fireplace. The flames can flare out
of control and send sparks into the room. Include these materials in recycling
programs or discard them with household trash.
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Equip your home with up-to-date, certified smoke detectors and fire
extinguishers. Don't forget to install, test and maintain your smoke detector
in accordance with the manufacturer's instructions. These few precautions can
add to a safe new year.
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TREE
TRIMMING NOTICE
Our line crew and contract tree
trimming companies will be cutting branches away from high voltage lines that
serve your home or business.
Tree trimming is necessary, not only to maintain the
high level of reliability enjoyed by Salem Electric members, but also to comply
with state and federal laws and regulations related to electrical safety.
We don't anticipate any power interruptions due to this
work.
If you have any questions about this, or any other
matters concerning Salem Electric, please contact our office.
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