Three Senior Leaders Join NHEC by NHEC | Jul 7, 2023 | UncategorizedPLYMOUTH, NH – New Hampshire Electric Cooperative (NHEC) welcomed three new leaders to the company’s senior management team in Member Engagement, Information Technology, and Finance. PETER GLENSHAW Peter Glenshaw is the Vice President of Member Engagement. For the past nine years, Glenshaw served as the Vice President for External Affairs at Alice Peck Day Memorial Hospital in Lebanon, New Hampshire, where he was also a member of the Senior Leadership Team. Glenshaw is the former Chair of the Lyme (NH) School Board and the Lyme Foundation, and the co-founder and current board member of the Upper Valley Business Alliance. His work experience also includes 25 years in higher education with responsibilities in administration, research, development, communications, and community relations. Glenshaw received his undergraduate degree from the College of William and Mary and his master’s degree from Georgetown University. “Peter brings extensive community relations, communications, and leadership experience to this role,” said Alyssa Clemsen Roberts, President & CEO of NHEC. “We are delighted to have someone with his unique set of skills in this position.” SONJA GONZALEZ Sonja Gonzalez is named Vice President of IT/Chief Information Officer. She comes to NHEC most recently from the City of Rochester, NH, where she served as Chief Information Officer. After earning her bachelor’s degree in Mechanical Engineering at Rensselaer Polytechnic Institute, Gonzalez began her career at Polaroid Corporation, and has spent over 20 years building stable, secure, scalable, and resilient networks. As the new Vice President of IT/Chief Information Officer, she brings with her a diverse range of experience working with private and public organizations across various business models, compliance and privacy requirements, and emergency services environments. “Sonja has worked with people of all technology skill levels to improve their efficiency through training, applications that work best for them, and an understanding of the core needs of the organization,” said Clemsen Roberts. “With the increasing occurrence, complexity, and cost of cyber-attacks, Sonja has focused her efforts on increased training and security measures to ensure that NHEC and its members remain successful and secure.” KRISTEN TAYLOR Kristen Taylor is the Chief Financial Officer (CFO)/Vice President of Financial Services. Taylor joined the NHEC Finance team in April 2018, became the Manager of Financial Services in 2020, and has been serving as the interim CFO since December 2022. Taylor is responsible for the financial performance of the company, which involves the development of distribution rates, oversight of cash management, creation of financial forecasts and budgets, support to member billing and completion of internal and external audits. She earned her Bachelor of Science degree in Accounting from Providence College and is a member of the National Society of Accountants for Cooperatives (NSAC). “We’re so pleased to welcome Kristen to her new role at NHEC,” said Clemsen Roberts. “Since stepping up as interim CFO during an important time of transition in the organization, Kristen has demonstrated that she is the best person for this position. I’m especially glad to have her expertise available as we begin a series of Strategic Planning sessions that will set the course of the organization for years to come.” About NHEC Founded in 1939 and headquartered in Plymouth, NHEC is a nonprofit electric distribution cooperative that is owned by the members it serves. NHEC provides energy and energy solutions to more than 88,000 homes and business in 118 New Hampshire communities. Through its wholly-owned subsidiary, NH Broadband, NHEC is building fiber-optic networks to provide high-speed internet access to its members, regardless of their location. Learn more at www.nhec.com, or www.nhbroadband.com.
Second Consecutive Rate Cut Coming for NHEC Members by NHEC | Jun 30, 2023 | Rates, UncategorizedPLYMOUTH, NH – The Board of Directors approved this week the second consecutive rate cut in a year for most New Hampshire Electric Cooperative (NHEC) members. Beginning August 1st, the rate change will result in an overall bill decrease of 7% (or $10.03 per month) for the typical member using 500 kWh of electricity per month. The typical 1,000 kWh member will see a total bill decrease of 8% ($20.27 per month). This most recent decrease comes on the heels of a February 2023 rate reduction that resulted in a total bill decrease of 9.3%. It is also a welcome sign that wholesale electricity prices continue to ease in New England, following a turbulent period of sharp increases in 2022. The August 2023 change includes a decrease to the Co-op Power rate, which reflects the actual cost of power that NHEC purchases for use by its members. The new Co-op Power rate will be 11.42 cents per kWh and will be in effect through January 31, 2024. While there will be a slight increase to the Regional Access Charge, the overall bill will decline for most members. “One of the best things an electric cooperative can do for its members and communities is to keep electric rates affordable,” said NHEC President/CEO Alyssa Clemsen Roberts. “That’s been a challenge in New Hampshire recently, and we’re very pleased to be able to offer another rate decrease to our members.” For more information about NHEC’s rates, including a current table of rates, please visit our website: https://www.nhec.com/rates-tariffs/
Members Reelect Four Incumbents to NHEC Board of Directors by NHEC | Jun 8, 2023 | Annual Meeting, Board of Directors, UncategorizedPLYMOUTH, NH – Members of New Hampshire Electric Cooperative (NHEC) have returned four incumbents to the company’s board of directors. A total of seven candidates were running to fill four seats on the 11-member board of directors. Five candidates ran for election to three, 3-year terms on the Board, while two candidates ran for election to one, 1-year term. Election results were announced at NHEC’s Annual Meeting, held June 7 in Plymouth. Reelected to three-year terms on the board were William Darcy of Benton, Madeline McElaney of Plymouth and Harry Viens of Center Harbor. Reelected to a one-year term on the board was incumbent member Leo Dwyer of Sandwich. Additionally, NHEC members approved one proposed amendment to the NHEC Code of Bylaws, but a second proposed amendment failed to reach the required supermajority approval of 66% of the votes cast. The first proposed amendment gives the board additional flexibility to efficiently receive, process and count NHEC membership votes that are cast electronically. The second proposed amendment would have eliminated the use of gendered language when referring to individuals in the bylaws. As a member-owned cooperative, NHEC relies on the active participation of its members to govern and sustain the business. NHEC wishes to thank all members who voted or stood for election. Below are the full results of the 2023 Board of Directors Election. FOR THREE-YEAR TERM (*elected) *William Darcy 4,478 *Madeline McElaney 4,270 *Harry Viens 3,712 Patricia Barbour 3,266 John Simonelli 2,953 FOR ONE-YEAR TERM (*elected) *Leo Dwyer 4,439 Leon (Lee) Pierhal 2,392 BYLAW AMENDMENT #1 (requires two-thirds majority for passage) YES 5,373 (77.9%) NO 1,521 (22.1%) BYLAW AMENDMENT #2 (requires two-thirds majority for passage) YES 4,017 (57.9%) NO 2,924 (42.1%) At NHEC’s Board Organizational Meeting on June 7, 2023 the Board of Directors elected the following officers to serve one-year terms: Chair of the Board – Sharon Davis Vice Chair of the Board – Madeline McElaney Treasurer – Edward French Assistant Treasurer – Carolyn Kedersha Secretary – Brenda Boisvert
NHEC Annual Meeting of Members Is June 7 by NHEC | May 31, 2023 | Annual Meeting, UncategorizedPLYMOUTH, NH – The New Hampshire Electric Cooperative (NHEC) 84th Annual Meeting of Members will be held at 10 a.m. on Wednesday, June 7, 2023 at Merrill Place Conference Center on the campus of Plymouth State University in Plymouth. All NHEC members are welcome to attend the business meeting in person or via a live stream of the meeting online. If you plan on attending either online or in person, please let us know by registering HERE on our website. For those attending in-person, please join us before the meeting for light refreshments. Doors open at 9 a.m. Can’t make it to Plymouth but want to join online? Register HERE to attend the live Zoom Webinar. Annual Meeting is a cooperative tradition that offers NHEC members the opportunity to hear about the performance of the cooperative, its accomplishments, and goals for the future. The NHEC Board of Directors and senior officers encourage participation from members and will be available for questions. Additionally, the results of the 2023 Board of Directors election will be announced.
NH PUC Order Nisi Granting Waiver of Portions of PUC 2200 Rules by NHEC | May 30, 2023 | Regulatory, UncategorizedIn this order, the New Hampshire Public Utilities Commission approves a settlement agreement and grants New Hampshire Electric Cooperative, Inc. (NHEC)’s request to waive identified substantive provisions of N.H. Admin. R. ch. Puc 2200 on a nisi basis, affording notice and opportunity for hearing to interested persons. VIEW PUC ORDER HERE
NHEC to return $2 million in capital credits to members, former members by NHEC | May 12, 2023 | Capital Credits, UncategorizedPLYMOUTH, NH – The New Hampshire Electric Cooperative (NHEC) Board of Directors has approved the return of over $2 million in capital credit payments to members and former members. The 2023 capital credit retirement will result in the payment of all remaining capital credits from 1984, all of 1985, and part of 1986. Approximately 10,000 current members who had service with NHEC during that time will receive a credit on their July 2023 bills. Former members who no longer take service from NHEC will receive checks for their patronage. This is the third consecutive year NHEC will be returning capital credits to its current and former members. NHEC is a nonprofit 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 cooperative builds equity. Unlike investor-owned utilities, however, nonprofit cooperatives return this equity back to the member-owners who created it. The equity NHEC builds over time is used to fund capital projects, which keeps the electric distribution system safe and reliable, and helps keep electric rates affordable and stable. NHEC’s member-owners are allocated their portion of NHEC’s 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 returned to members when the NHEC’s finances allow. Following a Financial Soundness Review in 2023, the NHEC Board of Directors determined that NHEC is in a good position to return equity to members for the third consecutive year. Current and former NHEC members have the opportunity to donate their capital credit payments to the NHEC Foundation or Project Care. Project Care and the NHEC Foundation are nonprofit 501(c)(3) organizations that provide bill assistance to NHEC members and support to local community nonprofit organizations. DONATE YOUR CAPITAL CREDIT PAYMENT HERE