Members Reelect Four Incumbents to NHEC Board of Directors by NHEC | Jun 16, 2021 | Board of Directors, UncategorizedPLYMOUTH, NH – Members of New Hampshire Electric Cooperative (NHEC) have reelected four members to the company’s Board of Directors. A total of six candidates were running for election to four open seats on the Co-op’s 11-member Board of Directors. As a member-owned cooperative, NHEC is governed by Directors who are elected by the membership. The four candidates elected by NHEC’s members were Jeffrey Morrill of Holderness, Brenda Boisvert of Campton, Daniel Senie of Charlestown and Edward French of Raymond. All four winning candidates are incumbent Board members and will serve three-year terms. Below are the full results of the 2021 Board of Directors election. Jeffrey Morrill 5,548 Brenda Boisvert 4,582 Daniel Senie 4,419 Edward French 3,833 John Goodrich 3,791 Carla Muskat 3,710 At NHEC’s Board Organizational Meeting on June 16, 2021 the Board of Directors elected the following officers to serve one-year terms: Chair of the Board – Jeffrey Morrill Vice Chair of the Board – Daniel Senie Treasurer – Edward French Assistant Treasurer – Carolyn Kedersha Secretary – Brenda Boisvert
NHEC, ENGIE Announce Completion of Battery Storage Project by NHEC | May 17, 2021 | Energy Efficiency, UncategorizedPLYMOUTH, NH (May 17th, 2021) – New Hampshire Electric Cooperative (NHEC) announced the completion of its first utility scale energy storage project. The 2.45 megawatt (MW) battery project was developed in partnership with ENGIE North America (ENGIE), a leading provider of energy storage services. ENGIE will own and operate the battery unit, which is located on the site of NHEC’s 2 MW solar array in Moultonborough, NH. The battery unit will charge from NHEC’s distribution system during times of low demand and discharge during periods of peak regional electricity use. By discharging during hours of peak electric usage, the battery will save NHEC’s members on regional market and delivery charges while reducing demand on the grid. As part of the innovative partnership agreement with ENGIE, NHEC will discharge the battery to supply energy to its members up to 70 times per year. These discharges will be used to reduce NHEC’s transmission charges and regional capacity payments. The battery project will provide NHEC with insight and direct experience into how battery storage technologies respond to price signals and interact with its electrical system. NHEC estimates these discharges will save its members $2.3 million over the next 12 years. “Energy storage is a rapidly evolving technology that has a key place in our strategic vision for our business model of the future. It’s important for NHEC to gain firsthand experience with batteries so we can better understand the benefits they have to offer our members and the operation of our system,” said Steve Camerino, President and CEO of NHEC. “As more Co-op members install their own batteries, NHEC needs to be ready to support them with a flexible, responsive grid. We are excited to make significant progress on our strategic vision through this innovative partnership with ENGIE, which will provide benefits to all NHEC’s members.” “We are delighted to have completed this leading-edge storage project alongside NHEC,” said Laura Beane, Chief Renewables Officer of ENGIE North America. “The addition of battery storage systems such as these are not only delivering real value to customers today, but also helping to accelerate the energy transition. NHEC’s leadership in commissioning this project reflects their commitment to innovation in supporting cost effective, clean energy for their members,” she continued. The battery storage unit is the largest in New Hampshire and can fully charge or discharge within two hours. The battery is housed in a pre-fabricated 40 foot container located within the fence line of NHEC’s solar facility in Moultonborough, New Hampshire. The battery unit has on-site fire suppression equipment and will be monitored 24 hours a day, year-round. About New Hampshire Electric Cooperative NHEC is a member-owned electric distribution cooperative serving 85,000 homes and businesses in 118 New Hampshire communities. Headquartered in Plymouth, NH, our business is to maintain and service our 6,000 miles of energized line in order to provide our members with the highest level of service. About ENGIE North America ENGIE North America Inc. offers a range of capabilities in the United States and Canada to help customers decarbonize, decentralize and digitalize their operations. These include comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense; clean power generation; energy storage; and retail energy supply that includes renewable, demand response, and on-bill financing options. Nearly 100% of the company’s power generation portfolio is low carbon or renewable. Globally, ENGIE S.A. relies on their key businesses (gas, renewable energy, services) to offer competitive solutions to customers. With 170,000 employees, customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress. For more information on ENGIE North America, please visit our LinkedIn page or Twitter feed, www.engie-na.com and www.engie.com
2021 Annual Meeting of Members Is June 16 by NHEC | May 14, 2021 | Annual Meeting, UncategorizedThe 82nd Annual Meeting of the Members of New Hampshire Electric Cooperative, Inc. will be held Wednesday, June 16, 2021. Given the current restrictions imposed by the coronavirus pandemic, this will be a virtual meeting with no fixed location. A live stream of the meeting will commence at 10 a.m. Members will be asked to take action on the items listed below. Secretary’s report of members present Reading of the notice of meeting by the Secretary Reading of the minutes of the 2020 meeting for approval by the members and taking necessary action on those minutes Presentation and consideration of, and actions upon, report of officers, directors and committees Presentation of results of the Board of Directors’ election Unfinished business New business Adjournment TO JOIN THE MEETING, PLEASE REGISTER HERE
Voting Opens in NHEC Board Election by NHEC | May 12, 2021 | Board of Directors, UncategorizedPLYMOUTH, NH (May 12, 2021) – Voting is underway in the New Hampshire Electric Cooperative (NHEC) annual Board of Directors election. NHEC members vote each year on the organization’s Board of Directors. This year NHEC members are voting to fill four seats on NHEC’s Board of Directors. NHEC members have until Thursday, June 10, 2021 to return their completed paper ballot or cast their electronic ballot via a secure, online portal. Election results will be announced at the 82nd Annual Meeting of Members, to be held at 10 a.m. on Wednesday, June 16, 2021. Due to ongoing restrictions on public gatherings, the annual meeting will be conducted online, with no physical location. To register to attend the online meeting, please visit https://www.nhec.com/2021-annual-meeting/. All NHEC members are welcome to attend and will be able to interact with presenters. Six candidates are seeking election this year to four seats on NHEC’s 11-member Board of Directors. All six candidates were selected by the NHEC Nominating Committee, which reviews the qualifications of each candidate and recommends those it feels would best contribute to the successful operation of NHEC. This year’s candidates selected by the Nominating Committee include Brenda Boisvert of Campton, Edward French of Raymond, John Goodrich of Littleton, Jeffrey Morrill of Holderness, Carla Muskat of Center Sandwich and Daniel Senie of Charlestown. NHEC members are receiving written statements from the candidates in support of their candidacies, along with a ballot. All members will have the opportunity to vote online instead of returning a paper ballot, using unique login codes provided in their ballot mailing.
NHEC Board Approves First Capital Credit Payments to Members by NHEC | May 5, 2021 | Capital Credits, UncategorizedPLYMOUTH, NH – For the first time in New Hampshire Electric Cooperative’s (NHEC) 82-year history, the company will begin returning a portion of its equity back to current and former members. Current NHEC members will receive their portion of these payments, called capital credits, as a direct bill credit later this summer. NHEC is a not-for-profit, rural electric cooperative, which means it is owned by the people and businesses it serves. When NHEC takes in more revenue than it spends in a given year, the Co-op builds equity that is used to fund capital projects, which keep the electric distribution system safe and reliable, and helps keep electric rates affordable and stable. NHEC’s member-owners are allocated their portion of the equity generated each year based on their electric usage. Members’ accrued equity in NHEC is represented by capital credits that are accounted for in NHEC’s financial records and are returned to members when the Co-op’s finances allow. At its April meeting, NHEC’s Board of Directors carefully reviewed the organization’s financial standing and determined the Co-op can begin returning capital credits to members without negatively impacting its finances. The Board authorized the return of nearly $4 million of equity back to NHEC’s members, beginning in July 2021. “Cooperatives are different than other organizations, we exist only to serve our member-owners,” said NHEC Board Chair Tom Mongeon, “and returning equity back to them is a tangible example of that difference. Because of the financial stability that NHEC has achieved over the years, we expect to be able to return equity to our members on a regular basis as we go forward.” “This is a significant milestone for the Co-op and our members,” said NHEC President and CEO Steve Camerino. “Returning capital credits is one of the fundamental tenets of a nonprofit cooperative. It has taken years of careful management to reach the point where we can return equity to our member-owners. I want to recognize the efforts of all NHEC employees today and over the last several decades in bringing us to this significant point in our history.” In July 2021, NHEC members who received electric service in the year 2020 will see credits on their electric bills reflecting the return of their first capital credits. Past Co-op members will receive checks based upon their portion of equity accrued between the years 1971 – 1982. The Co-op’s goal is to continue to return capital credits to members on a regular basis. Each year, the NHEC Board of Directors will review the Co-op’s finances and determine whether to return additional capital credits at that time. For additional information, please visit www.nhec.com/capital-credits.
NHEC Announces Summer Rates by NHEC | Apr 30, 2021 | Rates, UncategorizedPLYMOUTH, NH (April 30, 2021) – New Hampshire Electric Cooperative’s (NHEC) Board of Directors has approved rate changes that will result in a 1% total bill increase for most residential Co-op members. The Co-op Power rate and Regional Access Charge are both increasing by 1%, effective May 1. 2021. The Co-op Power rate reflects the cost NHEC pays to purchase electricity from the New England power market on behalf of its members. The price NHEC pays for this power is directly passed through to NHEC members who do not purchase electricity from a competitive supplier. The Regional Access Charge reflects the cost NHEC pays transmission companies to have high voltage power delivered to its distribution system. This charge also includes a credit from revenue associated with the Regional Greenhouse Gas Initiative. The changes to the Co-op Power rate and Regional Access Charge will add an average of 60 cents to the monthly bill of a typical residential member using 500 kWh of electricity per month. The May 1, 2021 rate changes will result in an average residential bill that is 2.9% higher than the same period in 2020. In February, NHEC reduced the Co-op Power rate to pass regional electricity market savings back to members as quickly as possible. Click here for NHEC rates, charges and fees.