Board Information
Capital Credit Refunds: The Board of Directors authorized payment of capital credit refunds to members totaling $2,587,391. This represents 5% of all outstanding credits and includes the remaining 2009 margins and a portion of the 2010 margins. Processing of capital credit refunds will occur in October.
Tony Schacher informed the Board that the front office remodel is nearing completion. Once the vestibule is completed, we will be able to reopen the lobby to the public. Plans for the Eastside warehouse on Cherry Ave. are progressing. Pre-permit planning is well underway.
General Manager’s Report
BPA has officially opened their rate proceedings to adjust for the increased costs incurred Oregon’s Amended Preliminary Injunction Order regarding the Columbia River System operations. The injunction imposes increased spill requirements at the dams and is expected to increase costs by over $250 million in the next two years. The public awareness campaign by Oregon’s consumer-owned utilities has gotten Governor Kotek’s attention.