Click here to download the 2010 Financials from our 2010 Annual Report.

Message from the General Manager

May 2011

I am pleased to present a summary of your cooperative’s 2010 financial statements on pages 28 and 29 of this issue.  First of all, in spite of recessionary impacts, NLI continues to be in a healthy financial position.  The members’ ownership in the cooperative grew by approximately $700,000.  Although requests for new services remained low for 2010, over 200 new services were completed.  In addition, $75,000 was returned for the early retirement of capital credits for estates and senior member who are age 80 and over.

Due to increased costs, including fuel, cable, and wholesale power, it was necessary for NLI to raise retail rates in January of this year.  Although our original analysis indicated an 8% increase was necessary, it was very important to the board to keep rates as low as possible.   NLI’s board and staff worked to revise budgets, reducing the rate increase to an average of 5%. 

As mentioned last year, NLI signed a new long-term power supply contract with Bonneville Power Administration which will begin in October 2011.  This contract will assure NLI will receive its fair share of the power generated by the region’s hydro system and sold by BPA.  BPA’s lowest cost power will provide most of what NLI needs for the next two years, but because this low cost power is limited, NLI will be purchasing a small amount of power at near market rates.

Fortunately, there are ways to control energy costs.  Members can manage increasing electric bills through energy efficiency and conservation.  NLI offers a number of programs to help our members save energy.  Through BPA, funding is available to help members improve insulation, install energy efficient windows, seal leaking heat ducts, purchase efficient appliances and more.  If you have not already done so, I encourage you to call the office and take advantage of these programs. 

After several years of effort, we have successfully received a 30-year new license to continue to operate the Lake Creek Hydroelectric project near Troy, MT.  The operation of the Lake Creek Hydroelectric project allows us to generate our own low cost power.  This has been a tremendous accomplishment for NLI and will help to keep rates as low as possible.

The board and management will continue to do all they can for NLI and its members.  As always, low cost power and reliable service will remain our number one focus. 

 

Sincerely,

 

Annie Terracciano

General Manager