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Special Board Meeting
Notice To Members of Alger Delta Cooperative Electric Association
A special board meeting is scheduled for August 30, 2010 at 1 PM (EDT) at the Comfort Suits in Escanaba, MI.
The Alger Delta Board of Directors will consider several changes to the cooperatives service charge, energy rates and special fees at a Special Board Meeting to be held on August 30, 2010 at 1 PM Eastern Daylight Time at the Comfort Suits - 3600 Ludington St. - Escanaba, MI 49829. For directions to the Comfort Suites call 906-786-9630. This meeting is open to all members of Alger Delta Cooperative Electric Association. Members will have the opportunity to address the board on the proposed changes prior to board action.
The following items shall be considered:
1. A revenue increase approximately nine percent (9%) to achieve a target TIER of 1.75. Revenue increase to be achieved through adjustments to service charges and / or energy rates. (TIER = Times Interest Earned Ratio - an interest coverage ratio needed to assure adequate financial strength to borrow funds for improvements to the utility system.)
2. Establishment of a Power Supply Cost Recovery Factor.
3. Adjustment of various other fee's and charges to reflect current costs.
Notice of changes to the cooperative's rates or service rules shall be sent via first class mail to all members as required by P.A. 167, or by publication in Michigan Country Lines at least 30 days prior to their effective date. Any interested member may attend and participate in this Special Board Meeting. The location is accessible, including handicapped parking. Persons needing special accommodation to participate should contact Alger Delta Cooperative Electric Association at 906-428-4141, between 8 AM and 5 PM Eastern Daylight Time, one week in advance to request mobility, visual, hearing or other assistance. Comments may also be submitted by calling 906-428-4141 or by email to algerdelta@algerdelta.com (please write "rate change" in the subject line) or by regular mail to Alger Delta Rate Change Comments - 426 N. 9th St. - Gladstone, MI 49837.
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