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TIMES JULY & AUGUST • 2019
Cooperatives in Washington
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ALSO IN THIS ISSUE: pg 3 • UPDATE ON YOUR COOPERATIVE pg 4 • BEAT EXTREME HEAT pg 7 • YOUTH AWARDS & YOUTH TOUR pg 13 • SUMMER ENERGY USE
ELECTRIC • NATURAL GAS • PROPANE
THE ENERGY COOPERATIVE
TIMES
1500 GRANVILLE ROAD NEWARK, OHIO 43058 (800) 255-6815
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TODD WARE PRESIDENT & CEO GARY BAKER DIRECTOR OF MARKETING & PUBLIC RELATIONS HEATHER JUZENAS COMMUNICATIONS MANAGER COOPERATIVE MEMBERS – PLEASE REPORT ANY CHANGE OF EMAIL ADDRESS OR PHONE NUMBER TO US AT (800) 255-6815 OR FEEDBACK@THEENERGYCOOP.COM. THE ENERGY COOPERATIVE TIMES IS THE OFFICIAL PUBLICATION OF THE ENERGY COOPERATIVE. WITH A CIRCULATION OF MORE THAN 63,000. THIS MAGAZINE IS THE BI-MONTHLY COMMUNICATION LINK BETWEEN THE ENERGY COOPERATIVE BASED IN NEWARK, OHIO, AND ITS MEMBERS.
WHAT’S INSIDE: 3 •
PRESIDENT'S MESSAGE
4•
BEAT EXTREME HEAT
6 • COOPERATIVES IN WASHINGTON 7 • YOUTH AWARDS & D.C. TRIP 8 • DIRECTOR ELECTION RESULTS 10• MESSAGE FROM MEMBER SERVICES 13 • SUMMER ENERGY USE 14 • TREASURER’S REPORT 15 • NO-BAKE SUMMER RECIPE 16 • ELECTRICAL SAFETY COLORING PAGE
UPDATE ON YOUR COOPERATIVE BY TODD WARE, PRESIDENT & CHIEF EXECUTIVE OFFICER
Todd Ware
We work hard to deliver safe, reliable, and affordable energy to our members. This would not be possible without carefully planning and making capital improvements on our system. As I recently shared at our Annual Meeting, we continue to improve the reliability of your service. Let’s take a look at the projects we completed in 2018.
NATURAL GAS
satisfaction. We understand that we can always do better to serve you and will continue to work harder to meet your expectations.
STRATEGIC GOALS
The natural gas cooperative continued to replace aging infrastructure. This included the installation of 10 miles of bare steel pipe and the remaining prone to fail risers. We continued installing new advanced metering infrastructure (AMI) meters, and now have less than 1,000 meters to replace. Additionally, we installed over 13 miles of new pipe as our growth continues in the Johnstown and New Albany areas. Our leaks outstanding increased during 2018, resulting in a slightly higher line loss percentage than 2017. However, this level continues to be well below the level we had several years ago.
ELECTRIC
The focus for electric members remains improving their service reliability. We spent just over $9 million on capital improvements in 2018. The main projects included replacing 8.8 miles of transmission line built in the 1950’s, finalizing our SCADA project, installing a new circuit switcher in the Apple Valley substation, and rebuilding several tie lines. This work has reduced outage time. Right-of-way management is also a crucial component of reducing outages. Last year we trimmed, mowed, or sprayed more than 1,000 miles of right-ofway. As with natural gas, we continued to build out the electric system in western Licking County.
MEMBER SERVICE
We make member service a priority for continual improvement every year. That means making processes more efficient, reviewing workflows and improving the culture of member service. You gave us modest increases for electric service in our American Customer Satisfaction Index (ACSI) survey while ranking us the same for meeting your expectations and your overall MYENERGYCOOP.COM
At the beginning of each year, your Board of Directors develop goals to ensure we are making progress on our strategic plan. The management team then sets objectives to complete based on those goals. It’s an important process to ensure we move the cooperative forward. In addition, last year the board held a strategic planning session to discuss the co-op’s direction over the next three to five years. These are the five directives from the board’s session: • • • • •
Develop and implement initiatives that enhance TEC’s safety culture. Create and execute a balanced financial plan that provides strategic direction on plant investment, rates and growth in equity. Develop and implement a plan that focuses on technological advancement. Develop and implement an infrastructure replacement plan to improve system reliability. Develop and implement a plan designed to enhance both engagement of and service to all members.
We implemented several programs as a direct result of these strategic directives. We started a systematic, long-term schedule to replace aging infrastructure for both electric and natural gas; we started a detailed right-of-way program for the natural gas system; and we redesigned myenergycoop.com. Over the next few years, you should be seeing the results of our work on these strategic directives. In 2019, we slightly increased our capital budget to hit some targets for our infrastructure replacement plan; however, we will be doing this within the boundaries of our financial plan. We also expect growth to continue in New Albany, Johnstown and Pataskala. We understand that doing these projects improves our system, but we must also continue to look for ways to reduce expenses so that we can keep any potential rate increases to a minimum.
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Beat Extreme Heat BY CONNIE HOGUE, DIRECTOR OF HUMAN RESOURCES & SAFETY
Connie Hogue
The human body regulates its temperature through sweating, which happens until it’s exposed to more heat than it can handle. People who are exposed to extreme heat or work in hot environments may be at risk of heat stress. Heat stress can result in heat stroke, heat exhaustion, heat cramps, or heat rashes.
Heat exhaustion and heatstroke can quickly become serious, resulting in delirium, organ damage and even death. People most at risk for heat exhaustion and heatstroke include infants and young children, people 65 and older, people who are ill, have chronic health conditions, or are on certain medications.
HEAT STROKE
Heatstroke is a condition caused by the body overheating, usually as a result of prolonged exposure to or physical exertion in high temperatures and high humidity. This most serious form of heat injury occurs when your body temperature rises to 103˚ F or higher. Heatstroke requires emergency treatment. Untreated heatstroke can quickly damage your brain, heart, kidneys and muscles. The damage worsens the longer treatment is delayed, increasing your risk of serious complications or death. Call 911 immediately if you suspect heatstroke.
HEAT EXHAUSTION
Causes of heat exhaustion include exposure to high temperatures, particularly when combined with high humidity and strenuous physical activity. Without prompt treatment, heat exhaustion can lead to heatstroke, a life-threatening condition.
HEAT CRAMPS
Heat cramps tend to impact people who sweat a lot during strenuous activity. This sweating depletes the body’s salt and moisture levels. Low salt levels in muscles causes painful cramps. Heat cramps may also be a symptom of heat exhaustion.
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SUNBURN
Unprotected skin can be damaged by the sun’s ultraviolet (UV) rays in as little as 15 minutes. However, it can take up to 12 hours for skin to show the full effect of sun exposure. According to the Center for Disease Control (CDC), even a few serious sunburns can increase the risk of getting skin cancer.
HEAT RASH
Heat rash is a skin irritation caused by excessive sweating during hot, humid weather. It typically appears as a red cluster of small blisters.
PREVENTION IS KEY
Fortunately, heat related illnesses are preventable. As the summer temperatures climb, remember to take the following precautions: 1. Wear loose-fitting, lightweight clothing to allow your body to cool properly. 2. Protect against sunburn. Sunburn affects your body’s ability to cool itself, so protect yourself outdoors with a wide-brimmed hat and sunglasses and use a broad-spectrum sunscreen with an SPF of at least 15. 3. Drink plenty of fluids. Staying hydrated will help your body sweat and maintain a normal body temperature. 4. Take it easy during the hottest parts of the day. If you can’t avoid strenuous activity in hot weather, drink fluids and rest frequently in a cool spot. Try to schedule exercise or physical labor for cooler parts of the day, such as early morning or evening. 5. Get acclimated. Limit time spent working or exercising in heat until you’re conditioned to it. People who are not used to hot weather are especially susceptible to heat-related illness. 6. Be cautious if you’re at increased risk. If you take medications or have a condition that increases your risk of heat-related problems, such as a history of previous heat illness, avoid the heat and act quickly if you notice symptoms of overheating. The CDC’s reference guide on page 5 can be a useful tool as you navigate extreme heat this summer. You can beat extreme heat by understanding what to look for, and what to do if you suspect a heat related illness. (800) 255-6815
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Cooperatives in Washington Cooperative leaders recently had the opportunity to speak to their U.S. representatives, plus Senator Sherrod Brown and Senator Rob Portman, about important issues facing our cooperative during the National Rural Electric Cooperative Association (NRECA) Legislative Conference in April. The Energy Cooperative is part of a nationwide network of nearly 900 electric cooperatives. While the NRECA has a team of government affairs professionals advocating for cooperative members every day in Congress, local cooperative leaders make an annual trek to Washington, D.C., to speak with the policymakers who represent them. Ohio’s electric cooperatives sent Directors, CEOs, and staff members as part of a full-court press, to advocate for the policy positions that benefit cooperative members and the services they provide. “The Legislative Conference lets members of Congress put a face to the issues that they’ve been hearing about from our lobbying efforts,” says Marc Armstrong, government affairs director for Ohio’s Electric Cooperatives, The Energy Cooperative’s statewide services organization and wholesale power supplier. This year, those issues included tax policy, broadband funding, and the Rural Development Program.
TAXES
Cooperatives are exempt from federal income tax, according to the IRS — as long as more than 85 percent of a cooperative’s income comes from members paying their bills. A 2017 change in tax law threatens that exemption, specifically for co-ops that receive funding from the Federal Emergency Management Agency. Co-ops are asking to fix the law to preserve that status, which ultimately saves money for members.
BROADBAND
Electric cooperatives provide power to many areas of Ohio that do not have adequate high-speed internet, a service that’s vital to maintaining quality education, operating a business, and managing a 21st century farm. Coops support broadband funding and policies that encourage rural broadband deployment.
RURAL DEVELOPMENT
The United States Department of Agriculture’s Rural Development Program offers loans, grants, and loan guarantees to support electric, communications, and water infrastructure, as well as first-responder services and equipment. The program helps create jobs and supports economic expansion that is desperately needed in rural Ohio, so co-ops have asked their legislators to support the Rural Development Program and the services it provides.
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The Energy Cooperative Recipients
Operation Round Up Recipients
Youth Awards & Youth Tour THE ENERGY COOPERATIVE SCHOLARSHIPS
The Energy Cooperative awarded a total of $12,000 in scholarships to the following high school seniors: • Chad Bell – Tri-Valley High School • Chance Campbell – Fredericktown High School • Jonathan Crow – Mount Vernon High School • Malia Jones – Johnstown High School • Andrea Kuhn – Watkins Memorial High School • Caroline Liggett – Northridge High School All students were judged on scholastic records, personal achievement, and school and community activities. We also thank the judges from Denison University for selecting the scholarship recipients. The Energy Cooperative’s Scholarship Recipient Caroline Liggett, a graduate of Northridge High School, was also awarded a $1,750 scholarship in Ohio’s Electric Cooperatives’ Children of Members Scholarship competition. Liggett, the daughter of David and Julia Liggett, competed for more than $36,000 in scholarship awards.
OHIO YOUTH TOUR
The Energy Cooperative selected three students to attend the National Rural Electric Cooperative’s Youth Tour in Washington, D.C. Pictured with Senator Rob Portman are Caroline Sedor, Abigail Buckingham, and Isabella Clark. 2019 Ohio Youth Tour with Senator Rob Portman
OPERATION ROUND UP SCHOLARSHIPS
The Energy Cooperative Operation Round Up Foundation Scholarship program was created by the foundation’s Board of Directors to reward students who have committed themselves to the pursuit of a college education. This scholarship rewards those students expressing the following values in their lives: accountability, integrity, innovation and community commitment. The following students earned a $2,500 scholarship from The Energy Cooperative Operation Round Up Foundation and were recognized at the Annual Meeting of Members in May. • Ethan Garrett – Maysville High School • Corbin Hazen – Danville High School • Sarah Hill – Granville Christian Academy • Allissa Pfister – Utica High School • Alisha Slone – Johnstown High School • Nathan Stone – Granville High School • Faith Triplett – Watkins Memorial High School • Nicole Weber – Loudonville High School The following students earned $2,500 scholarships from The Energy Cooperative Operation Round Up Foundation in memory of Bruce A. Sumner, former vice president and chief operating officer of electric operations at The Energy Cooperative: • Hannah Hartman – Philo High School • Grant Myers – Newark Catholic High School The John C. “Jay” Barker Scholarship, created in memory of Jay Barker, who was one of the original board members of The Energy Cooperative Operation Round Up Foundation, was awarded to: • Brook Abbott – Ohio University .
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Director Election Results DISTRICT 3 DIRECTOR JACK SCHMIDT, CCD, BL
Schmidt has served five terms on The Energy Cooperative Board. He serves on the Ohio Rural Electric Cooperatives, Inc. (OREC) Board and sits on its Safety & Executive Committees. He is the retired owner-operator of Timbuk Farms in Granville. Schmidt has served on many state and national industry and church boards and was the president of a national trade association. He is a member of the Highwater Congregational United Church of Christ and serves as Treasurer. Schmidt served on the McKean Township Zoning Board for six years. He attended The Ohio State University and earned a bachelor’s degree in Forestry at Michigan State University. He served as an officer in the U.S. Army. He earned the Credentialed Cooperative Director and Board Leadership certificates from the National Rural Electric Cooperative Association. Schmidt is married to Nancy and has four children.
DISTRICT 4 DIRECTOR DANIEL DUPPS, CCD, BL
Dupps has served three terms on The Energy Cooperative Board. He is a retired educator who began his career as an English and Government teacher. He then became the Principal of Heath High School from 1973 to 1982 and the Superintendent of Heath City Schools from 1982 to 1994. Dupps was the Mayor of the City of Heath from 1998-2007. Dupps is the Chairman of the Licking County Hospital Commission.
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He is a member of the Heath Sertoma Club, the Newark Rotary Club, and the Heath Ameican Legion post 771. Dupps received both his Bachelor of Science and Master of Arts in Educational Administration from Ohio University in Athens. Dupps earned the Credentialed Cooperative Director and Board Leadership Certificates from the National Rural Electric Cooperative Association. He attends the Heath United Methodist Church. Dupps is married to Shirley and has three chilrden.
DISTRICT 7 DIRECTOR, Dustin Buckingham, CCD, BL
Buckingham has served three terms on The Energy Cooperative Board. He is a Master Electrician who has operated Buckingham Electric LLC in Knox County since 2003. He received his Bachelor of Science in Electrical and Computer Engineering from Ohio Northern University. Buckingham has served as the Board President of the East Knox Board of Education for the past four years. He is a Deacon and Sunday School teacher at Millwood Church of Christ. He earned the Credentialed Cooperative Director and Board Leadership Certificates from the National Rural Electric Cooperative Association. Buckingham is married to Amy and has three children. *The designation of CCD (Credentialed Cooperative Director) and BL (Board Leadership Certification) is given to a Board Director after completing a series of certification classes provided by the National Rural Electric Cooperative Association.
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Kids Day 2019 We would like to extend a special thank-you to all of our employees and their families and friends who volunteered to work this event.
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Message from Member Services Q & A with Ray, Energy Advisor Investing in energy efficiency may sound like it requires a lot of effort, time and money, but high cost isn’t the only way to get high impact. You can take many small steps to make your home more energy efficient, which not only saves money but can help you live a more comfortable life. We recently sat down with our energy advisor, Ray Crock, to discuss simple ways our members can take control of their energy use.
HOW MUCH ENERGY CAN BE SAVED BY UNPLUGGING APPLIANCES AND ELECTRONICS?
Appliance and miscellaneous electrical loads take up more and more of our monthly electric bills. One of the simplest things you can do is shut off your electronics, appliances and lights when they’re not being used. Some electronics, such as televisions, can draw power even when turned Ray Crock off, in what’s known as phantom loads or vampire draw. This can also occur for smartphone chargers that are not connected. To avoid those pesky energy-sucking creatures, consider completely unplugging them or shutting off the power strips they’re connected to when not in use. You can also consider a smart power strip, which has certain outlets that can cut power to electronics that are not in use.
WHAT IS AN EASY WAY TO MANAGE HEATING AND COOLING COSTS?
One of the most common things I see on energy audits is a heating or cooling unit that’s always on. When the fan never stops, the cost adds up. Setting your thermostat fan to “auto” ensures it runs only when needed to heat or cool your home. When an air-conditioning fan is left on 24/7, it can add up to $50 to your monthly energy bill. It’s also helpful to keep your thermostat at the warmest comfortable temperature in the summer —78 degrees is the most efficient summertime setting, and ceiling fans are a great way to move air around the house. Depending on your daily schedule, you may consider investing in a programmable or smart thermostat to automatically set temperatures throughout the day.
WHY DOES MY SWIMMING POOL USE SO MUCH ENERGY?
Swimming pool pumps are prime targets for increasing energy efficiency. Start by installing an ENERGY STAR pump and finding the sweet spot for clean water at less run time. Try reducing the filtration time to six hours per day. If the water doesn’t appear clean, increase the time in half-hour increments until it does. Keep the intake gate clear of debris to minimize flow resistance through the pump. Solar-powered pumps for fountains, ponds and other water features can also significantly reduce energy bills.
WHAT ARE SOME OF THE MODERN DEVICES THAT INCREASE ELECTRICITY USE?
Digital video recorders (DVRs), TV and HD set-top boxes have made great strides in energy reduction in recent years; however, they can still use a noticeable amount of power over a year’s time. We estimate 11-26 watts of power used for a typical HD-DVR and 8-15 watts for a non-DVR HD-client, with a 10% reduction in power use during sleep mode. Game consoles have become a standard entertainment device in many homes, allowing people to play games, go online, watch movies or stream videos. But how much energy does a game console use? We estimate that an average video game console will use around 90 watts when it’s being actively used for gaming and 1-2 watts during standby mode when the console is off but plugged in. For other uses like video streaming and downloads, most consoles use 50-70 watts. Wi-Fi routers are typically solid-state devices and do not have moving parts, so their energy consumption is very low, even though they’re usually left on 24 hours a day for uninterrupted internet access. We estimate that a Wi-Fi router uses 2-20 watts, with 6 watts being average use.
WHAT MODERN DEVICES DO NOT MAKE THAT BIG OF AN IMPACT ON OUR ELECTRIC BILLS?
Cellphones, smartphones and tablets are very energy efficient because they’re designed to run on a battery for a long time. Cellphones use about 2-6 watts when charging, while a charger left plugged in without a phone will consume 0.1- 0.5 watt. Charging a smartphone under normal use will typically cost under a dollar for a full year.
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WHY IS MY ENERGY USE HIGH EVEN WHEN I HAVE ALL LED LIGHTBULBS?
LED, or light-emitting diode, lightbulbs are a good energy-efficient option for lighting, often beating out CFL bulbs in power efficiency and longevity at a similar price. It’s important to remember, however, that lighting is a very small piece of your overall electric bill.
HOW CAN MEMBERS VERIFY THEIR HOUSE IS NOT “LEAKING ENERGY”?
Duct system leakage can cause high utility bills, poor comfort and indoor air quality, and pressure imbalance problems, which, under extreme conditions, could cause back drafting of fireplaces and combustion appliances. Many heating and cooling contractors and energy auditors can use special equipment to test for duct leakage. A visual inspection may also find problems. Try to trace each duct run from the register inside the home back to the air handler. If a building cavity is used as a duct, it should be sealed at all joints with mastic—a thick paste— or lined with an appropriate duct material, such as metal or duct board that is then sealed. Look for ducts that have become detached at connections. These should be reattached with foil tape and mastic that completely covers the tape and both metal components. After sealing, make certain all duct surfaces are insulated. Caulking cracks and gaps around windows, doors, and spaces around wires (telephone, electrical, cable and gas lines), water spigots and dryer vents can also pay off with big energy savings.
SEAL AIR LEAKS WITH CAULK
Did you know heating and cooling accounts for roughly half of your home’s energy use? Caulking cracks and gaps around windows, doors and spaces around wires (telephone, electrical, cable and gas lines), water spigots and dryer vents can pay off with big energy savings. *Approximate cost: $5-$30 *Energy savings: Approx. 5-10 percent – Source: U.S. Dept. of Energy
MATERIALS YOU WILL NEED CAULK • CAULK GUN • KNIFE OR TOOL TO CUT • RAGS • WATER
1. PREP Clean the area where you will be applying the caulk. Remove any dirt, loose paint or old, cracked caulk. Be sure the area is dry before applying new caulk appropriate for your application. 2. LOAD You will need to pull the plunger all the way back to load the tube of caulk into the barrel of the caulking gun. Next, squeeze the trigger a few times until the plunger makes contact with the tube. Squeeze once or twice more to fill the tip with caulk. 3. APPLY To figure out the right amount of caulk needed, experiment with an out-of-the-way section. You may find that you need less caulk than you thought. Hold the gun at a slight angle. Apply steady pressure on the trigger to create a solid stream from the tip, which should be placed 1/2 inch or less from the intended destination of the material. Use just enough caulk to do the job. Use your finger to gently press the caulk into the corner, crack or space. 4. RELEASE Once the trigger is fully depressed, allow it to spring back and depress it again. Keep the gun moving while caulk is still coming out of the tip. 5. CLEAN Use a damp cloth or rag to clean off most of the excess caulk. Use a dry cloth to clean off the rest.
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Summer Energy Use Weather can have a major impact on energy bills, and when the outdoor temperatures become extreme, your heating and cooling equipment works harder to keep your home comfortable. To help you prepare, The Energy Cooperative uses degree-days to anticipate your heating and cooling needs. Degree-days measure the amount of heating or cooling needed for a building, based on the difference between the average daily temperature and 65 degrees, which is the standard U.S. temperature. The assumption is that we don’t need heating or cooling to be comfortable when the outdoor temperature is 65. Positive values are cooling degree-days and negative values are heating degree-days. The more extreme the outdoor temperatures, the higher the number of degree-days. And the higher the number of degree-days, the higher the amount of energy used for space heating and cooling. Summer is in full swing, so let’s look at cooling degree-days. Cooling degree-days are a measurement of how hot the temperature was on a given day or during a period of days. With summer temperatures rising, you’ll likely require more cooling for your home or business, which results in more
cooling degree-days. Variations in electric bills often follow closely with degree-days, which is why utilities use this data to anticipate future energy demand. Degree-days are tracked for a variety of other reasons. Farmers can better plan the planting of crops and timing for pest control, and weather experts can better assess climate patterns. Here are a few tips to help you save on energy bills this summer: • Set your thermostat as high as comfortably possible. The smaller the difference between the indoor and outdoor temperatures, the lower your cooling costs will be. The Department of Energy recommends setting your thermostat to 78 F when you’re home and a higher setting for when you’re away. • Turn off ceiling fans when you leave a room. • Close window coverings, like curtains and blinds, during the day to block sunlight. • Use caulk and weatherstripping to seal air leaks around doors and windows. If you have questions about your energy use or to learn more ways to save, give us a call at 800-255-6815.
IMPORTANT MESSAGES FOR NATURAL GAS MEMBERS In accordance with Federal Pipeline Safety Regulations 49 CFR, Part 192.16 The Energy Cooperative is required to inform members that the member shall be responsible for their gas service lines.
HERE’S WHAT YOU NEED TO KNOW • • • • •
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The member is responsible for the maintenance and repair of all gas piping from the gas meter to all gas appliances. The member is responsible for the repair/replacement of the gas service line located on the member’s property from the buried curb valve to the inlet of the gas meter. Buried gas piping that is not maintained may be subject to the potential hazards of corrosion and leakage. For your safety, all buried pipe should be periodically inspected for leaks. If the buried piping is metallic, it should also be periodically inspected for corrosion. If an unsafe condition is found, the gas piping will need to be promptly repaired. When digging near buried gas piping, the piping should be located in advance and the excavation done by hand. As a reminder, any time you are excavating, OHIO811 should be called by simply dialing 811 or 1-800-362-2764 at least 48 hours prior to digging. OUPS will notify various utility companies to locate utilities lines in the area. Plumbing and heating contractors can assist in locating, inspecting, and repairing the member’s buried piping. The Federal Department of Transportation (DOT) requires that a DOT-qualified plumbing contractor must be used to repair or replace a member’s buried piping upstream of the meter, including the gas riser attached to the meter set. While this is not required for piping downstream of the meter, The Energy Cooperative strongly recommends a DOT-qualified plumber be used for all buried gas piping.
THE ENERGY COOPERATIVE TIMES • JULY & AUGUST 2019
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FINANCIAL CORNER TREASURER’S REPORT BY JOHN KLAUDER, CCD, BL, BOARD TREASURER
For the year ended December 31, 2018, the Board of Directors engaged GBQ Partners LLC to perform an audit of the cooperatives’ books and records. GBQ has extensive experience in auditing both utilities and cooperatives. On March 26, 2019, GBQ issued the audit report for the year ended December 31, 2018. The audit report contained John Klauder an unmodified opinion, which in accounting terms is a clean opinion from the auditor.
was for purchased energy. Operating expenses for 2018 were $52.3 million. Net income for 2018 was $10 million. Consolidated comprehensive income for the year was $12.4 million. The cooperative has equity of $46.7 million as of the end of 2018. Equity for the combined entities has grown to 15.94 percent. Our lender, CFC, will consider allowing the payment of capital credits once a cooperative reaches an equity position of 20 percent.
As of December 31, 2018, your cooperative had total assets of $292.9 million, which includes $226.1 million in net plant assets. At the end of 2018, the company had $40.7 million of patronage capital in other cooperatives, including generation and transmission provider Buckeye Power and lender National Rural Utilities Cooperative Finance Corporation (CFC). Included in total assets was over $1.8 million in cash and short-term investments. Total liabilities were $246.2 million as of year-end. In 2018, total combined revenues for the cooperatives were approximately $119 million. Gross margin for 2018 totaled approximately $58 million. Total expenses for the year were $113.6 million, of which $61.3 million MYENERGYCOOP.COM
Individual results by entity are as follows: Licking Rural Electric recorded comprehensive income of $6.4 million for the year. National Gas finished 2018 with comprehensive income of $5.1 million, while NGO Transmission had comprehensive income of $845,000. NGO Development showed a comprehensive loss of $326,000. NGO Propane had comprehensive income of $339,000. The cooperatives invested $19.2 million in new plant assets during 2018. As of December 31, 2018, The Energy Cooperative served more than 64,000 members. During 2018, we paid approximately $6.9 million in taxes and retired over $61,000 in patronage capital credits to estates. If you have questions about this financial report, please contact The Energy Cooperative at 1-800-255-6815.
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NO-BAKE SUMMER RECIPE Cooking in the summer can be unbearable, and the last thing you want to do on the hottest, most humid days is turn on the oven. Your air conditioner works extra hard on those days to keep your home cool, so why not give it a break with easy, efficient, no-bake recipes. Make a delicious treat for your family without breaking a sweat! .
LEMON TRUFFLES
These quick and easy lemon truffles are sure to satisfy any sweet tooth! 2 1/2 cups Lemon Cake mix 8 Tbsp melted butter (1 stick) 2 Tbsp lemon juice Zest of one large lemon
ENTER OUR RECIPE CONTEST!
Win a $100 credit on your bill by submitting your favorite FALL RECIPE! Email your recipe to feedback@theenergycoop.com, or mail it to: The Energy Cooperative Attention Editor PO Box 4970, Newark, OH 43058
FOR LEMON CAKE MIX: 2 3/4 cups cake flour 1 3/4 cups fine white sugar 2 tsp baking powder 3/4 tsp salt Zest of two lemons
Combine the cake mix ingredients into a large bowl and stir gently to combine. Add the melted butter, lemon juice and lemon zest. Use your hands to combine until the flour is moist and flakey. Roll dough into two-inch balls, roll in sugar and serve!
The Operation Round Up Foundation awarded $36,267 in June to the following community organizations: • • • • • • •
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West Muskingum Elementary School for guided reading books. ForeverDads toward HVAC upgrade. Transitions Inc. for fencing. Hebron Elementary School for Lancer little libraries. Friends of the Licking County Library toward Dolly Parton Imagination Library. Village of Philo toward shelter construction. United Way of Knox County for exercise balls for elementary students.
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Harrison Township – Muskingum County toward splash pad. Y Bridge Arts Festival for cooling tent and fans. Abbot Senior Living for AED. Bryn Du Arts Center for easels. Heart of Ohio Trail Inc. toward Eagle Scout project. Morgan Grange #829 toward cook stove.
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WHY CAN BIRDS SIT ON POWER LINES WITHOUT BEING ELECTROCUTED?
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1500 Granville Road P.O. Box 4970 Newark, Ohio 43058-4970 (800) 255-6815 myenergycoop.com
WE RESPOND TO OUTAGES AND EMERGENCIES 24/7/365. • If you are experiencing an outage OR have some other emergency situation call us at (800) 255-6815. • If you smell gas or suspect a leak, leave the area immediately. Call 911. Then call us at (800) 255-6815.
Chat with Member SErvice Monday-Friday 7:30 a.m. - 4:30 p.m. myenergycoop.com
