CADDO ELECTRIC & KIWASH ELECTRIC

Caddo Electric & Kiwash Electric

News Release
May 22, 2015
For Immediate Release

Electric Cooperatives
Considers Consolidation

Caddo Electric Cooperative, located in Binger, Okla., and Kiwash Electric Cooperative, located in Cordell, Okla., are excited to announce that they have begun discussions on how the two cooperatives can work together to create a more efficient electric distribution system.

The CEC and KEC boards of trustees are reviewing possible operational efficiencies of the cost sharing of cooperative and utility services, inventory management, equipment sharing, joint utility management and/or consolidation. The boards of trustees have hired C.H. Guernsey to review the rates individually and jointly as well as the cost of service for both cooperatives. Preliminary in house reviews have indicated increased value for economies of scale, increased financial strength, rate stability, elimination of duplicate services and additional operating efficiencies.

“The future of the electric industry is faced with environmental, regulatory and operational changes. The boards of trustees and management of both cooperatives believe that a potential consolidation will offer stronger solutions to face the challenges ahead,” said Clint Pack, CEO of Caddo Electric.

An extensive review is currently underway and is being done with diligence and the best interests of both memberships in mind.

“It’s our promise to bring safe, reliable electric power to our member-owners at the lowest cost possible,” said Dennis Krueger, Kiwash Electric CEO. “As we move forward to a possible consolidation with our neighbor, this premise will remain our top priority.”

CEC and KEC are working on a new website to post updates as they become available. Please watch for new updates on www.caddokiwashtogether.com Members may refer to CEC and KEC’s facebook page or contact the member service department of each cooperative for more information.

 

For Additional information Contact:

Boyd Lee at Caddo Electric Cooperative – 405.656.2322
Dennis Krueger at Kiwash Electric Cooperative – 580.832.3361