Board Meeting Summary September 28, 2021

October 01, 2021
Board Meeting Summary

Board Action

Facility Plan

The Board of Directors passed a facilities plan to proceed with Cooperative Business Solutions as the design/build firm for the renovation of the existing Salem Electric office and warehouse space in West Salem, and the concurrent construction of warehouse space at Salem Electric’s eastside property adjacent to the Alumina Substation. The Board action approves acquiring borrowing authority in the form of a project-financing loan that will be accessed to cover actual project costs, currently estimated at $15 million. The renovation includes additional covered storage for line trucks and material inventory, development of a Salem Electric property in northeast Salem to be used for material storage to increase resiliency, and upgrades to mechanical, building, and electrical systems on Salem Electric’s 40-year-old building.

Strategic Plan

The Board of Directors adopted a strategic plan that focuses on the following objectives.

  • Facility Improvements: To ensure the resiliency, capability, and longevity of Salem Electric facilities and its contents.
  • New Rate Structures: Design rate structures that influence usage patterns and support a shift in demand peaks while meeting operational and member needs and addressing member equity.
  • Load Growth: Increase energy sales while continuing to encourage efficient use of electricity.
  • Revenue Streams: Evaluate the feasibility of generating revenue outside the electrical distribution market.

Capital Credits

The Board authorized the refund of 5% of all outstanding allocated margins, totaling $2,098,649, to be returned to members as capital credits. 

General Manager's Report

Salem Electric Member Assistance Program funds have been expended for 2021. Staff are assisting members in need of financial assistance by directing them to assistance agencies and programs that may be available to them, including Salem Electric’s Round-Up program.