COURIER The Kilowatt
June 2021
HEA MEMBERS ELECT 2021 BOARD OF DIRECTORS
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omer Electric Association members cast their votes by mail and elected three directors to represent each district of HEA's service territory. In District 1 (Kenai/Nikiski/parts of Soldotna area), Charles M. (Mike) Chenault of Kenai, Wayne Ogle of Kenai, Erik Hendrickson of Nikiski, and Joseph A. Ross of Nikiski ran for the vacant District 1 seat. HEA members elected Charles M. (Mike) Chenault to represent District 1. In District 2 (Soldotna/Sterling/Kasilof), Ed Schmitt of Soldotna ran against Robert Wall of Sterling. Voters elected Robert K. Wall to represent District 2. In District 3 (South Kasilof/Kachemak Bay area) incumbent Roy Champagne of Anchor Point ran against Louie Flora of Homer. Members elected Louie Flora to represent District 3. Members who mailed in their ballots were eligible for the energy credit drawings. Congratulations to the following winners: $50 energy credit winner - Jeff 59355001 Williams $100 energy credit winner - Samuel Reser $150 energy credit winner - Deborah or Joshua Tobin $200 energy credit winner - Judy or Willard Lee $250 energy credit winner - William or Kathylyne McLeod $500 energy credit winner - Benjamin Wishnek There were 238 members who registered at the Virtual Annual Meeting on May 6, 2021. Those members were eligible for the attendance energy credit prize drawings. Congratulations to the following winners: $50 energy credit winner - Vivian Terry $100 energy credit winner - Pamela Hall $150 energy credit winner - Lane Beauchamp $200 energy credit winner - Phillip Owensby $250 energy credit winner - Patricia Moye $500 energy credit winner - Brandy Super Year of free electricity (up to 10,000 kWh) - Connie Nelson
Thank you to all the members who participated in their cooperative by voting and attending the virtual annual meeting!
HEA SCHOLARSHIPS & SAFETY POSTER CONTEST AWARDS
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ommitment to Community is one of HEA's cooperative principles. Each year, HEA distributes HEA Scholarships, hosts an Electrical Safety Poster Contest and sponsors a Youth Rally to Idaho. The electric cooperative is proud to announce the 2021 winners of the HEA Scholarship Program recipients and Electric’s Safety Poster Contest. Unfortunately due to the continuing pandemic, the Idaho Youth Rally was canceled for the 2021 summer.
Scholarship Program
HEA’s Scholarship Program 9091004 is an outreach opportunity available to high school seniors and adults in pursuit of higher education. The award value and scholarship quantity is determined annually by the Board of Directors and funded by the interest earned on unclaimed capital credits. continued on back page... Kilowatt Courier is a monthly online publication by Homer Electric Association, Inc.
HEA RETURNS CAPITAL CREDITS TO MEMBERS
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HIDDEN ne of the benefits of being a member in a member-owned, not-for-profit ACCOUNT NUMBERS electric cooperative, is the return of capital credits to members. HEA distributed $2,102,000 in capital credits to approximately 16,000 members and Three randomly chosen italicized account numbers are hidden former members last month. If you noticed a credit on last month's bill, that is in the Kilowatt Courier. the reason. If you find YOUR account number, call Members with an active HEA account received a credit on their May energy 235-3338 and you'll receive a $50 bill statement. Those members who do not have an active account were mailed a credit which will be reflected on check to their address on file with HEA. your next bill. Thanks for The capital credits were distributed to people who were members of HEA during reading! 1989 and 1990. The amount is determined by the quantity of electricity purchased during each of those years; the more electricity purchased, the larger the capital credit amount will CURRENT be. The average energy credit for someone who was a residential member in both 1989 and 1990 RESIDENTIAL RATES is approximately $130. As of April 1, 2021 Capital credits represent HEA members’ share of equity in the utility and are based on margins, which are the difference between total expenses and total revenues of the cooperative. Each year, All Residential Customers HEA allocates margins to its members in proportion to the amount they paid for electric service. Energy charge = 16.077 cents/kWh Customer charge = $20.00 As a reminder, 73729001 it is critical for HEA to have a good address on file for all members to System delivery charge = $24.12* ensure delivery of future capital credits. (*If usage is less than 150 kWh) While the allocation is done annually, the return of margins occurs at the discretion of the Board of Directors, based on the financial health of the cooperative. In 2020, the HEA Board of Cost of Power Adjustment (COPA) Directors released two rounds of capital credit distributions to assist our members financially 8.09 cents per kWh* during the Covid-19 pandemic. Prior to refunding capital credits, the cooperative uses its margins to (*Subject to change on a quarterly basis and upon RCA approval.) maintain equity and fund long-term capital projects to improve and upgrade the electrical system. From 1960 through 2020, HEA has returned over $35 million in capital credits to members See www.homerelectric.com of the cooperative. for the latest residential and commercial rates.
HEA SCHOLARSHIPS & SAFETY POSTER CONTEST AWARDS continued ... HIGH SCHOOL SCHOLARSHIP RECIPIENTS Jamie Hyatt Cook Inlet Academy Cassidy King Soldotna High School Owen Rolph Kenai Central High School Zachary Burns Soldotna High School Katherine Delker Soldotna High School Ryder Giesler Connections Homeschool Austin Cline Homer High School Jessica Sonnen Homer High School Kara Super Homer High School
Ed Oberts, President (907) 398-8039 Erin McKittrick, Vice President (907) 299-6994 Jim Duffield, Sec./Treasurer (907) 283-2203 Jim Levine, Deputy Secretary (907) 299-0323 Dan Chay, Director (907) 283-9227
CONTINUING EDUCATION SCHOLARSHIP RECIPIENTS Sarah Foglia District 1 Emilie Grimes District 2 Maya Rourke District 3 SAFETY POSTER WINNERS Best Safety Message: Boden Kate Green Most Creative: Hadley Kornelis Most Humorous: Molli Sansotta
BOARD of DIRECTORS & MANAGER
Mike Chenault, Director (907) 398-1010 Louie Flora, Director (907) 717-9602
Chapman School, 3rd Grade Soldotna Montessori Charter School Kaleidoscope School of Arts & Science
Charles "C.O." Rudstrom, Director (907 ) 420-7124 Robert Wall, Director (907) 398-9191 Brad Janorschke, General Manager (907) 283-2312
MONTHLY FINANCIAL UPDATE
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omer Electric finished the month of April 2021 with a total asset base of $266.6 million. Operating revenue to date was $35.9 million and total costs were $32.5 million, bringing net operating margins to $3.4 million through April 30, 2021. This chart is a breakdown of key financial indicators comparing April 2020 to April 2021. Year to Date Operating Revenue Cost of Purchased Power
April 30, 2021 $35.9 million $21.7 million
April 30, 2020 $35.9 million $21.6 million
Cost of Electric Service Operating Margins
$10.8 million
$11.8 million
$3.4 million
$2.5 million
Total Kilowatt Hours Sold Total Number of Meters
162.7 million
155.4 million
35,734
35,444
JUNE 2021 KILOWATT COURIER Homer Electric Association, Inc. 3977 Lake Street Homer, AK 99603 (907) 235-8551 (800) 478-8551 280 Airport Way Kenai, AK 99611 (907) 283-5831 www.homerelectric.com Homer Electric Association, Inc. is an equal opportunity provider and employer.