Board Meeting Summary January 24, 2023

January 24, 2023

Board Action

City of Keizer Franchise Agreement: The ten-year City of Keizer franchise agreement was extended by four months to April 30, 2023. The City is proposing changes to the agreement and Salem Electric plans to provide input during a comment period.

Bylaw Updates: The Board approved proposed updates to Bylaw 7.8 Capital Reserve Refunds, and Bylaw 2.2(a) Application and Acceptance. Members will be able to vote on the proposed updates on the 2023 ballot. 

2023 Board Meeting Dates: The Board voted to move the March, September, and December 2023 board meetings to earlier in the month to avoid conflicts with spring break, the National Rural Electric Cooperative Association’s regional meeting, and the Christmas holiday.

2022 Year-End Report Highlights

Member Services noted an increase in solar inquiries and accounts signing up for paperless billing. Payments by check continue to decline, while over 80% of payments were submitted in an electronic format. The kWh savings from Salem Electric’s energy efficiency programs in 2022 was enough to power 165 homes for a year.

Engineering & Operations reported that there were no lost time injuries in 2022, and the yearly average outage time per member was 48 minutes. After severe weather events in 2022, Salem Electric crews were able to help Central Lincoln and Consumers Power restore power to their members.

Salem Electric's financial reports showed that our net margin was larger than anticipated. Power costs and revenue were both higher than budgeted, and operating expenses were lower. Several factors impacted the net margin including supply chain issues, colder-than-anticipated weather in the spring and fall, a heat wave in late summer, and a billing adjustment from our power supplier.